PERTH, Australia – Radiopharm Theranostics Ltd. raised AU$50 million (US$36.4 million) in an oversubscribed IPO to advance its platform of radiopharmaceutical products for both diagnostic and therapeutic uses.

Shares of cardiac diagnostics company Heartbeam Inc. (NASDAQ:BEAT) are trading lower than expected after it opened on the Nasdaq on Nov. 11. The digital health company priced its public offering of 2,750,000 units at $6, but as of midday, shares were trading at $4.56. It’s a disappointing start for the Santa Clara, Calif.-based company, which is developing an ECG telemedicine technology to diagnose cardiovascular patients for ambulatory settings.

Vaxxinity Inc. priced its IPO below the targeted range, selling 6 million shares (NASDAQ:VAXX) at $13 each for proceeds of $78 million, but came out of the gate impressively, closing at $16.55, up $3.55, or 27%, after reaching $22.77 during the day.

Geninus Inc. endured a difficult debut on Korea Exchange’s Kosdaq board, but still raised ₩40 billion (US$33.83 million) through its listing. The 2 million shares on offer tumbled 25.56% at ₩13,400 (US$11.33) at the close of trading on Nov. 8, after Geninus priced them at ₩20,000.

Beijing Airdoc Technology Co. Ltd. raised HK$1.67 billion (US$214.8 million) with its IPO on the Hong Kong Exchange (HKEX) on Nov. 5, falling below its expectations of a $500 million raise. Share prices for the artificial intelligence-based (AI) medical imaging firm were priced at HK$75.10 apiece and dropped 3.5% to HK$72.50.

Shanghai Microport Medbot (Group) Co. Ltd. started trading its shares on the Hong Kong Stock Exchange on Nov. 2, with shares increasing over 6% in the middle of the day. It raised HK$1.56 billion ($201 million) with shares going at HK$43.2 apiece in an initial public offering. The firm plans to use 35% of the proceeds for the development and commercialization of its core product, the laparoscopic surgical robot Toumai.

Entrada Therapeutics Inc. is the largest of four biopharmas making new moves on IPOs as the company upsized its offer from 7.5 million to 9.07 million shares priced at $20 each. Last year saw $22.48 billion in biopharma IPOs, a record, according to BioWorld stats. Aside from a record-setting 2020, this year’s IPO total far outpaces every other year in the past decade. With the end of 2021 in sight, there have been 110 completed global biopharma IPOs totaling $18.13 billion.

Medical device maker PHC Holdings Corp. listed on the Tokyo Stock Exchange recently, raising around ¥20 billion (US$175 million). The listing was touted as the biggest IPO in Japan since 2018 but crashed spectacularly. The Tokyo-based company listed on the bourse’s First Section, and saw its shares slide 18% to ¥2,651 per share in their debut on Oct. 14. They were up 1.28% to ¥2,685 at the close of trade on Oct. 21. The 460 million shares that were issued priced at the bottom of a ¥3,250 to ¥3,500 range.