The biopharmaceutical industry cheered Third Harmonic Bio’s sizeable initial public offering in mid-September but the IPO market in the US has gone quiet since then as broader stock indices – including biotechnology indices and exchange-traded funds – have faltered due to macroeconomic concerns, such as inflation and rising interest rates. Therefore, an alternative to a traditional IPO seems to be gaining momentum once again.
Finance Watch: SPAC Deals Emerge As IPO Market Goes Quiet Again
Three Firms Seize Opportunity To List Via Mergers
Public Company Edition: Direct Biologics, YishengBio and Estrella Biopharma will go public by merging with special purpose acquisition corporations. Also, Vir lands a government contract worth up to $1bn, Idorsia raises CHF164m ($167.4m) in a real estate deal and Adamis reviews alternatives.
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