Alkermes submits long awaited NDA for schizophrenia, bipolar drug; Is a unicorn bubble dragging the IPO market?
→ The Alkermes $ALKS team — who back in July laid out their plans to add bipolar I disorder to their list of conditions for ALKS-3831 (olanzapine/samidorphan), which they planned to pitch to the FDA in Q4 — has announced that they have submitted an NDA for the drug as a treatment of schizophrenia and bipolar I disorder.
→ Private unicorns have been growing since the passage of JOBS Act in 2012, according to Renaissance Capital, from under 25 back then to over 200 today in the US alone. But the bubble of over-valued startups, enabled by a provision allowing for many more shareholders in a company before it goes public, are starting to have negative effects on the IPO market, the research firm said in a new report. As high-flying unicorns struggle to find more backers to buy into their valuations, unicorns have been applying to list at a relatively slow pace. While the report focused on the larger trends, biotech has seen its fair share of unicorn IPOs this year, some of whom had to trim their valuations at their public debuts, like BioNTech and Vir Biotechnology.