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Biotech IPOs Get Bigger, But Not Necessarily Better

 
• By Elizabeth Cairns

The first $1bn quarter since 2021 suggests that biotech’s IPO window is opening once more. But times remain tough, and many recently listed groups have seen their valuations fall.  

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Biopharma is going public again. That is the unmistakable trend throughout the year so far – indeed it has been clear since the spring of 2022. And the third quarter has seen the most cash raised by floating biotech companies since the end of 2021, totalling $1.3bn.

Key Takeaways
  • Eight biopharma IPOs raised a total of $1.3bn in Q3 2023
  • But these eight groups have lost an average of 29% of their value since their debuts
    • ...

This is a rosy picture until you look at how these companies have done on the stock markets since their IPOs. The eight companies that went public in the third...

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