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Finance Watch: The Biggest Biopharma IPO Of 2024 May Not Happen In The US

Follow-Ons, Private Placements Remain Active

 
• By Mandy Jackson

Public Company Edition: Galderma proposed pricing for its $2.6bn Swiss public market debut. Also, Apogee and Akero lead follow-on offerings with $483m and $366.9m, respectively, and Lexicon’s private placement brings in $250m, while Spruce reveals a 21% workforce reduction.

Finance Watch Public Company
• Source: Alamy

Biopharma initial public offerings may be on the rise in 2024 – and not just in the US, where much of the industry’s IPO-tracking attention is focused. Galderma S.A. revealed on 6 March that it intended to go public on the SIX Swiss Exchange and a week later revealed the potential terms of the IPO in its home country, which could gross up to CHF2.3bn ($2.6bn).

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