Continuing biopharma’s IPO resurgence in 2026, Hemab Therapeutics Holdings Inc. priced an upsized offering of 16.75 million shares at $18 per share, the high end of its proposed price range, for gross proceeds of $301.5 million. Another $45 million could come if underwriters exercise their full overallotment.
Seaport Therapeutics Inc. joined Nasdaq May 1, raising gross proceeds of $254.9 million, as its parent, Boston-based Puretech Health plc moved to exit the market, opting for a sole listing on the London Stock Exchange (LSE) in order to reduce its cost base and cut bureaucracy.
The memory of Merck & Co. Inc.’s $10 billion takeover last year of inhaled respiratory drug specialist Verona Pharma plc may not have been far from the minds of Wall Street speculators as Avalyn Pharma Inc. priced its IPO, selling about 16.6 million shares at the high end of the targeted range, or $18 each, to reap about $300 million. The stock (NASDAQ:AVLN) came out of the gate strong on the first day of trading and closed April 30 at $29.49, up $11.49, or 64%.
