The first IPO of 2024 is a greatly upsized one from CG Oncology Inc., which is selling 20 million shares (NASDAQ:CGON) of its common stock at $19 each. Shares closed Jan. 25 95.6% higher at $37.17 each. The company initially had looked to raise about $200.6 million by selling its shares somewhere from $16 to $18 each but adjusted its thinking before the Jan. 25 debut, now anticipating gross proceeds of $389 million. Read More
Despite a barely open IPO window in 2023, 27 biopharma firms went public in the year. It’s the lowest number since 2012 recorded 11 IPOs in the sector. However, encouraging news is that, overall, the U.S. IPO class of 2023 is up an average of 7.48%. Read More
In the face of the short supply of venture capital, the U.K. biotech sector weathered the storm in 2023, raising a total of £1.25 billion (US$1.6 billion) across 69 deals. That was 6% down on 2022, but has to be seen against the backdrop of U.K. VC investment across all sectors falling by a massive 43%. With follow-on financing by quoted companies, biotechs raised £1.8 billion overall. Read More
Wall Street got what it wanted from Vera Therapeutics Inc. with atacicept in IgA nephropathy (IgAN) and rewarded shares of the Brisbane, Calif.-based firm (NASDAQ:VERA), pushing them to close Jan. 25 at $25.31, up $8.29, or 49%. Read More
Be it viral, nucleic acid or protein vaccines, recent efforts that led to the first regulatory approvals for not only COVID-19, but also for malaria and respiratory syncytial virus, positioned infectious diseases in the headlines for much of the last four years. But despite that attention, or the threat of future pandemics, or the numerous infectious diseases for which there are no preventable vaccines and very little development activity, the level of private and public funding for biopharma companies working in the space is dismal – at least compared with that of oncology products, according to a new analysis report released by the Biotechnology Innovation Organization (BIO) on Jan. 25. Read More
Biopharma happenings, including deals and partnerships, grants, preclinical data and other news in brief: Karuna, Lava, Merck & Co., Prime, Repare, Roche. Read More
Regulatory snapshots, including global drug submissions and approvals, clinical trial approvals and other regulatory decisions and designations: Biosion, Cytomx, Harbour, Heron, Legend, Relive, Renexxion, Theratechnologies, Urogen. Read More
