US IPO Market In 2022 Even Underperformed Normal Years

Outlier Kept Average Return In The Black

03 Mar 2023

INFOGRAPHIC: The number of biopharma offerings in 2022 was far below records set in 2020 and 2021, but also below more normal years of 2018 and 2019. The IPO class of 2022 eked out a positive average return, however.

Words IPO (Initial public offering) with the trading data on the background — 22 drug developers went public in the US in 2022 raising $2.5bn • Source: Shutterstock

Last year saw just 22 biopharma initial public offerings in the US, down markedly from the record-breaking 107 first-time offerings in 2021, but also well below the prior record set in 2020 and the more normal years of 2018 and 2019.

Another way in which last year stood out is that, despite the rocky performance of the US stock market in general and biopharma stocks in particular, the IPO class of...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

Start your 7-day free trial
Explore trusted news, analysis, and insights
Access comprehensive global coverage
Enjoy instant access – no credit card required

Start Free Trial

Already a subscriber?

Angelini Advances Brain Health Ambitions With GRIN Pact

27 May 2025

• By Kevin Grogan

The Italian drugmaker gets rights to Phase III-ready asset radiprodil.

GlycoEra’s Series B Cash Will Fund Efforts To Take On FcRn Inhibitor Class

27 May 2025

• By Joseph Haas

GlycoEra unveiled a $130m series B financing, saying the proceeds would enable it to take its first clinical candidate through proof-of-concept in autoimmune diseases.

Finance Watch: Public Company Fundraising Sank Across The Board In Q1

23 May 2025

• By Mandy Jackson

Public Company Edition: Biomedtracker’s first quarter 2025 financing report shows follow-on offerings, IPOs and PIPEs fell sharply from Q1 of 2024. In recent transactions, Teva sold $2.3bn worth of notes, Regenxbio executed a royalty deal for up to $250m and Aura’s FOPO grossed $75m.

Finance Watch: SV Closes Second Dementia Discovery Fund, Exceeding $250m Goal

22 May 2025

• By Mandy Jackson

Private Company Edition: SV Health Investors revealed the final closing of its second Dementia Discovery Fund. Also, Eikon cut nearly 15% of its staff, Pathos AI raised $365m in series D venture capital and CellCentric completed a $120m series C round, among other financings.

Regeneron Buys Tirzepatide-Like Product With Eye On Muscle-Preserving Combinations

02 Jun 2025

• By Jessica Merrill

Regeneron is bringing in its own GIP/GLP-1 agonist, establishing a path to develop proprietary obesity drug combinations with its internal muscle-sparing drugs.