MBX Biosciences, Inc., Bicara Therapeutics Inc. and Zenas BioPharma Inc. launched initial public offerings in the US late on 12 September that priced in the middle or at the top of proposed price ranges and still saw their valuations rise by single or double digits on 13 September, the first day of trading for all three companies. Unfortunately, first-day performance has not always been a sign of good things to come for biopharmaceutical companies that have launched IPOs in 2024.
Key Takeaways
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MBX, Zenas and Bicara launched IPOs late on 12 September and saw their stock prices spike on Friday the 13th, their first days of trading.
Ten of the 18 drug developers that priced first-time offerings so far this year gave their IPO investors stable to...
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