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Finance Watch: Alto, Fractyl Bring IPO Count To Four, So Far, In 2024

Mixed Performance In First Trading Days

 
• By Mandy Jackson

Public Company Edition: Alto Neuroscience and Fractyl Health grossed $128.6m and $110m, respectively, while FibroBiologics went public in a direct listing. Also, Vaxcyte grossed $862.5m in a follow-on offering, Immunocore grossed $350m in a note sale and Vera raised $287.5m.

Finance Watch Public Company
• Source: Alamy

The number of biopharma initial public offerings in the US in 2024 grew to four with IPOs by Alto Neuroscience Inc. and Fractyl Health, showing that investors continue to be supportive of certain first-time offerings this year. However, the mixed performance of the two firm’s stocks showed that investor confidence remains shaky.

Alto grossed $128.6m from the sale of 8.04 million shares at $16 each on 1 February, upsized from the 6.7...

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