Pub­lic biotechs rais­ing funds? In this econ­o­my? A trio of com­pa­nies brings $1.5B+ to bat­tered sec­tor af­ter PhI­II wins

Over the last 24 hours, some­thing strange has hap­pened in biotech: Pub­lic com­pa­nies are rais­ing mon­ey — and quite a lot, at that.

Fol­low­ing Nas­daq’s clos­ing bell Wednes­day af­ter­noon, three biotechs an­nounced nine-fig­ure rais­es in As­cendis Phar­ma, ar­genx and Apel­lis Phar­ma­ceu­ti­cals, at a time where a bear mar­ket con­tin­ues to blud­geon the sec­tor. While un­ex­pect­ed, the cash sent a sig­nal that com­pa­nies can still pull to­geth­er funds at the right op­por­tu­ni­ty, in­de­pen­dent in­vestor Brad Lon­car told End­points News.

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