Christmas came early for a number of biopharma companies this year as eight companies collectively raised $3.24 billion in public offerings. Both Structure Therapeutics Inc. and Terns Pharmaceuticals Inc. announced upsized offerings of $650 million each, and Kymera Therapeutics Inc. raised $602 million, placing all three in the top 10 follow-on offerings of the year.
The week closed out with two IPOs on their way in. Alto Neuroscience Inc. (NASDAQ:ANRO) and Fractyl Health Inc. (NASDAQ:GUTS) both debuted on Wall Street with offerings looking to raise combined $238.6 million.
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.
