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.
MBX, Zenas And Bicara IPOs Generate Big First Day Returns, But Will They Last?
Most New 2024 Biopharma Offerings Trade Lower Later
MBX, Zenas and Bicara delivered positive returns in their first days of trading, but that has not always translated to good long-term results for drug developers that launched US IPOs this year.
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