Portable dialysis machine manufacturer Outset Medical Inc. saw its shares soar after the opening of its Nasdaq IPO. The stock rose as high as $61.60 before closing at $60.68, finishing the day with a market cap of nearly $2.5 billion. Trading under the ticker symbol OM, the company priced 8.95 million of its shares at $27 apiece, upsizing its previously reported plans to offer 7.6 million shares between $22 and $24. The offering is set to close Sept. 17.

Athira Pharma Inc.’s proposed $100 million IPO, along with a filing by Virios Therapeutics LLC to raise $35 million on Aug. 28, helped propel a supercharged amount of investment in 2020 that shows no sign of slowing. The pace is unusually swift this year despite hindrances from COVID-19. The total value of IPOs so far in 2020 is $12.95 billion, with 54 completed, easily outpacing 2019’s $8.64 billion.

Annexon Biosciences Inc.’s handsome $250 million IPO this summer verified the mounting interest in its two front-running C1q inhibitors: ANX-005, which has turned up promising phase Ib data in Guillain-Barre syndrome (GBS), with a phase II/III effort planned for next year, and ANX-007, due to enter a phase II experiment in geographic atrophy (GA) during 2021 as well.

Kymera Therapeutics Inc. debuted on NASDAQ Friday by pricing its upsized IPO of 8.68 million common shares at $20 each as it eyes gross proceeds of $173.3 million. By the end of the day, Kymera stock (NASDAQ:KYMR) had soared 66.3%, with shares closing at $33.26 each.

Fresh off raising $640 million in private financing earlier this summer, Germany's Curevac BV burst onto the public market Friday with a $213.3 million Nasdaq IPO. Priced at a top-of-range $16 per share (NADAQ:CVAC), the company's stock rose more than 249% to close at $55.90 Aug. 14, buoyed by enthusiasm for its mRNA vaccine program against SARS-CoV-2. Majority shareholder and longtime Curevac backer Dievini Hopp Biotech Holding GmbH & Co. KG invested €100 million (US$118.3 million) in the company through a concurrent private placement.

HONG KONG – Venture capital investment into most sectors in China has generally plunged throughout the COVID-19 pandemic but biotechnology has been a noticeable exception. China’s biotech industry has continued to attract investors, not only because of its importance in dealing with the pandemic but also as a result of increased maturity and a growing list of government incentives.

Despite the ongoing pandemic, Acutus Medical Inc. (NASDAQ:AFIB) decided to go down the IPO route. It officially started trading today after reporting its offering of more than 8.8 million shares of its common stock at $18 per share, with expected gross proceeds of $158.8 million. Last month, the Carlsbad, Calif.-based company estimated that the IPO price per share would be between $16 and $18.

HONG KONG – Venture capital investment into most sectors in China has generally plunged throughout the COVID-19 pandemic but biotechnology has been a noticeable exception.

The biopharmaceutical sector welcomed a further 11 new IPO graduates in July, bringing the number to 39 that have started to trade on the U.S. markets this year. The companies going public last month collectively raised more than $2.5 billion and most of them made a favorable impression following their first day of trading, with the group increasing their share values by an average of 16%.

HONG KONG – Looking to boost its R&D capacity, China’s Sunshine Guojian Pharmaceutical (Shanghai) Co. Ltd. launched an IPO on July 22 that raised ¥1.7 billion (US$240 million) on Shanghai’s STAR market. Shares (SSE:688336) almost doubled in value on the first day of trading, closing at ¥54.10, for a gain of 92%.