The VC-backed biopharma IPO scene is all but barren. The second quarter recorded a total of zero biopharma IPOs in the US, according to the latest PitchBook research. It was the first quarter since 2016 without a single one. Healthcare investors say M&A keeps the private biopharma markets moving and that public listings abroad have picked up some of the US slack. Still, new listings have been bogged down by elevated interest rates, overinflated private valuations, and some regulatory uncertainty. There are three main culprits, according to Rahul Chaudhary, head of equity capital markets at Leerink Partners.
Read the full article: The US Posted Zero Biopharma IPOs in Q2. That Hasn’t Happened Since 2016 //
Source: https://pitchbook.com/news/articles/the-us-posted-zero-biopharma-ipos-in-q2-that-hasnt-happened-since-2016