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IPO Numbers Dipped In 2023, But 2024 Is Off To A Good Start

Funds Raised This Year Double The Like Period Last Year

 
• By Mandy Jackson

There were 21 biopharma initial public offerings in 2023, including J&J’s consumer health spin-out Kenvue, versus 22 in 2022. However, IPO proceeds are rising in 2024.

Initial public offering icon on dark background
The IPO market may rebound in 2024 from big dips in 2022 and 2023 • Source: Shutterstock

Initial public offerings in the US by biopharmaceutical companies dipped slightly to 21 in 2023, including Johnson & Johnson’s spin-out of its consumer health business as Kenvue Inc., from 22 IPOs in 2022, which was down from record-breaking levels in 2020 and 2021. But based on the amount of money raised and the number of companies still trading in positive territory, relative to prior years, 2024 seems to be off to a good start.

There have been eight biopharma IPOs so far in the US this year, the last of which launched in mid-February – the same number of first-time offerings seen through mid-February...

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