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Finance Watch: Signs Of Life? A Small Offering, Three New Filings And Galderma Hints At An IPO

Azitra Raised $7.5m In First US IPO Since Acelyrin In May

 
• By Mandy Jackson

Public Company Edition: Private Galderma raised $1bn but said its next likely financing will be an IPO. Also, Azitra went public while Turnstone, Apogee and Sagimet initiated the process; Sutro signed a royalty deal for up to $390m; and despite a follow-on offering mini-surge, cost cuts continue.

Finance Watch Public Company
• Source: Alamy

The market for initial public offerings in the US looks like it might be waking up from a month and a half nap with one biopharmaceutical company making it through the IPO window in mid-June and three others filing to go public with more sizeable offerings. Also, Galderma S.A. – a large privately held, commercial-stage, dermatology-focused firm – has signaled that it may pursue an IPO soon.

Azitra Inc., which is developing precision dermatology therapeutics using engineered proteins and topical live biotherapeutic products, grossed $7.5m when it went public on 15 June through the sale of...

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