BioNotebook: Five public company financings; TherapeuticsMD, La Jolla, Biodel, AGTC, CymaBay
This article was originally published in Scrip
Executive Summary
It's difficult to be a biotechnology company that's trying to launch an initial public offering right now, but already public companies, including some that recently completed IPOs, continue to find a market for follow-on offerings.
You may also be interested in...
First Phase III Depression Data For Intra-Cellular’s Caplyta Exceed Expectations
With positive results from the first Phase III trial of lumateperone in major depressive disorder and a second readout expected later this quarter, the company plans a supplemental filing in late 2024.
Finance Watch: Ten IPOs So Far In 2024, But Returns To Date Are Subpar
Public Company Edition: This year’s newly public companies are trading an average of 9.7% below their IPO prices, including the two most recent debuts, Boundless Bio and Contineum. Also, Nkarta, Praxis and Nurix grossed $240m, $200m and $175m, respectively, in follow-on offerings.
Venture Capital Fundraising Rebounds In Q1 As Mega-Rounds Dominate
Biopharma firms raised $6bn in the first quarter of 2024, the most of any quarter since Q2 2022. But without an increase in the number of companies raising funds, the rebound remains uneven.