Finance Watch: Biopharma Public Offerings Fell In Q4, But Activity Is Booming In Q1

Biomedtracker’s latest report on biopharmaceutical company fundraising shows a 25.1% decline in year-over-year dollars raised, from $17.5bn in the fourth quarter of 2022 to $13.1bn in Q4 of 2023. Follow-on public offerings (FOPOs) had a similar Q4 decline of 24.2% from $6.09bn to $4.61bn, while initial public offering dollars nearly doubled from $343m to $639m despite the number of global IPOs declining from eight in Q4 2022 to five in Q4 2023.

However, the slowdown in FOPOs and IPOs in the fourth quarter appears to be reversing in the first quarter of 2024. Already this year, there have been seven biopharma IPOs through the first half of Q1, including Kyverna Therapeutics Inc.’s $319m offering on 7 February