Financial market conditions are beginning to improve for biopharmaceutical companies raising money to fund research and development programs, thanks in large part to an increase in mergers and acquisitions that have seen big pharma companies buy small firms at attractive valuations. But while deals are occurring across the preclinical through commercial-stage asset spectrum, the majority of financings – and particularly initial public offerings – still involve companies with drug candidates entering or in the clinic, where buyout valuations give investors the highest returns.
Key Takeaways
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Financial market conditions appear to be improving, according to panel discussions and interviews at the BIO International Convention, although maybe not fast enough for some biopharma firms.
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IPOs are on a good pace in 2024 for clinical-stage companies, helped by M&A activity, but interest rates and other macro factors will continue to impact investor interest in the industry
Investors and advisors as well as companies that recently completed successful funding rounds said in interviews with Scrip and in panel discussions during the BIO International Convention from 3 to 6 June in San Diego that capital is available for drug developers that are prepared to both tell their scientific story and outline upcoming
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