Coya Therapeutics, Inc. launched the final biopharmaceutical initial public offering in the US in 2022 on 29 December, raising $15.25m from the sale of 3.05 million shares at $5 each, which brought the year’s total to 22 IPOs – just 20% of the record-breaking 107 drug developer IPOs that launched in 2021. But while several companies sputtered onto the stock market with small offerings, many other drug developers opted to stay private a while longer, waiting for better market conditions.
Finance Watch: VC Round Extensions Attractive While Stock Market Wobbles
2022 Ended With Just 22 Biopharma IPOs
Private Company Edition: While Coya Therapeutics raised $15.25m in the final initial public offering in the US last year, Apnimed stayed private raising $80m in a series C extension and Metagenomi extended its series B by $100m to total $275m.
More from Finance Watch
• By
Private Company Edition: The latest group of drug developers to announce venture capital financings is remarkable for its geographic diversity, from Character Biosciences’ $93m series B round in the US to Augustine’s $85m series B in Belgium to a $29.2m series C for Aculys in Japan.
• By
Public Company Edition: Cargo suspended development and cut 90% of its workforce to focus on strategic alternatives, while Pyxis and Kiromic laid off or furloughed employees. Also, Pfizer sold its remaining Haleon shares for $3.3bn, Galderma sold $1bn in bonds and other financings.
• By
Private Company Edition: There have been five $100m-plus VC rounds so far this month, up from three in all of February. Flagship unveiled Lila Sciences with $200m, while Curevo and Insilico raised $110m in series B and E rounds, respectively. Also, Arbor Biotech garnered $73.9m.
• By
Restructuring Edition: Biopharma companies used fourth-quarter updates to reveal job and program cuts to conserve cash, including Sutro, Agenus, Coherus, Inozyme and Atea. Also, Vincerx’s reverse merger was terminated and Vaccinex, Oncternal, Syros plan to voluntarily delist.