Few Signs Of An IPO Slowdown Despite US Biotech Stock Slump
Executive Summary
Biotech stock valuations wavered in October with the average IPO return in the US nearing negative territory, but observers say there is still a healthy market for new biopharma offerings in 2018 and into next year.
You may also be interested in...
Finance Watch: VC Tally Hits $14.5bn For 2018, Beating 2017 With A Quarter Left To Go
US VC investment in biopharma totaled $14.5bn in the first three quarters of 2018, exceeding the full-year 2017 sum of $11.9bn. UK biotech cash also is rising, benefitting new companies like Sitryx.
Finance Watch: With The Year's Biggest IPO, CFO Says Allogene Is Ready To Go 'Full Throttle'
Allogene launched a $324m IPO to fund development of its allogeneic CAR-T pipeline, bringing its 2018 fundraising total to $744m. Also, GW Pharma's $345m offering tops recent follow-ons.
IPO Update: Returns Sag As Seven More Biopharmas Go Public In September
The average return for the 54 drug developers that went public in the US during first three quarters of 2018 was 13.6% as of Oct. 1 versus 16.9% as of Aug. 31 for the 47 biopharma firms that launched IPOs during the first eight months of this year. September had seven new offerings after just two in August.