The latest firm to brave the rough IPO market, Lexeo Therapeutics Inc. made its Nasdaq debut after pricing about 9.1 million shares at $11 per share, raising proceeds of $100 million to advance its early clinical work on gene therapies for cardiovascular and neurological diseases.
Abivax SA’s debut on the U.S. market received a somewhat chilly reception Oct. 20, as the firm priced on the low end of its proposed range and ended the first day of trading in the red. But the company managed to pull in about $235.8 million in gross proceeds, the majority of which will support late-stage efforts for obefazimod, an oral candidate with a novel mechanism of action it hopes to advance in the lucrative inflammatory bowel disease space.
Hangzhou and New Jersey-based cancer biotech Adlai Nortye Ltd. – formerly Hangzhou Nuotai Pharmaceutical Co. Ltd. – announced plans to list on Nasdaq with its U.S. IPO filed on July 27.
Hangzhou and New Jersey-based cancer biotech Adlai Nortye Ltd. – formerly Hangzhou Nuotai Pharmaceutical Co. Ltd. – announced plans to list on Nasdaq with its U.S. IPO filed on July 27.
Nyxoah SA reported it successfully raised $3 million to ramp development of its Genio technology for the treatment of obstructive sleep apnea. This fundraising took the form of private placement of shares on the Nasdaq. They were acquired by Sydney-based Cochlear Ltd., an existing Nyxoah shareholder.
Leveraging a computational platform designed to exploit the full potential of a widely studied pharma target has proved successful in attracting venture investors in the last few years to Structure Therapeutics Inc. The company now is giving the public markets a go, aiming to raise up to $100 million in what marks the first biopharma U.S. IPO filing for 2023.
Equity investment in European biotechnology firms engaged in therapeutic discovery and development continued its downward slide during the third quarter. The total for the period, $1.106 billion, is down 39% on the second quarter of this year and down 41% on Q3 2021. The ongoing weakness of the public markets is the main driver of the trend. In Q3, listed firms raised little more than half of what they managed in Q1 of this year, while the IPO window remains firmly closed. At present, the sector is bumping along at investment levels last seen about five years ago.
Inspectors from the U.S. Public Company Accounting Oversight Board (PCAOB) have reportedly arrived in Hong Kong to inspect audit records for the Chinese companies listed by the U.S. SEC as being noncompliant with U.S. accounting standards.
Inspectors from the U.S. Public Company Accounting Oversight Board (PCAOB) have reportedly arrived in Hong Kong to inspect audit records for the Chinese companies listed by the U.S. SEC as being noncompliant with U.S. accounting standards.
As many biopharmas rethink plans to go public on less-than-welcoming U.S. markets, Hillevax Inc. forged ahead, pricing an upsized IPO April 28, offering 11.8 million shares at $17 apiece, the midpoint of its previously proposed range, for gross proceeds of about $200 million. That’s the highest amount raised in a U.S. IPO so far in 2022, which saw only nine companies go public on Nasdaq during the first quarter.
