After a two-year dry spell, initial public offerings by biotech companies showed signs of life during the first three months of 2024. But it’s too early to say that the biotech IPO market has fully recovered. Biotech IPOs appeared to reach pre-pandemic levels during the first quarter, with nine companies collectively raising more than $1.3 billion, according to a database from BioPharma Dive. That is more than three times the roughly $375 million raised from biotech IPOs in the first quarter of 2023. But the last few biotech companies to price IPOs in the quarter “haven’t traded so well,” Mike Perrone, Baird’s biotech specialist, told CNBC.
Read the full article: Biotech IPOs Ramped Up to Start 2024, but the Market Hasn’t Fully Recovered Just Yet //
Source: https://www.cnbc.com/2024/04/23/healthy-returns-biotech-ipos-heated-up-but-havent-fully-recovered.html