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5 cash-hun­gry biotechs crowd in­to Nas­daq in search of a $600M-plus wind­fall

The queue to get in­to Nas­daq just got a lot longer.

On Fri­day af­ter the mar­kets closed 5 more biotech’s tossed their S-1s in­to the mix, mark­ing at least 22 IPO pitch­es for the year to date. That falls in line next to the 20 biotechs that had gone pub­lic by this time last year — which marked an­oth­er busy year for pub­lic mar­ket de­buts and the cash they spin for R&D work.

We broke it out on a case-by-case ba­sis:
Der­ma­vant

Ideaya wraps $50M IPO to fu­el clin­i­cal dri­ve on syn­thet­ic lethal­i­ty

Ideaya Bio­sciences has fol­lowed sev­er­al oth­er down­sized IPOs on­to the Nas­daq, be­gin­ning a new pub­lic life with a $50 mil­lion raise and the tick­er sym­bol $IDYA.

Led by CEO Yu­jiro Ha­ta, an ex­pe­ri­enced biotech ex­ec who built the South San Fran­cis­co com­pa­ny from scratch while an en­tre­pre­neur-in-res­i­dence at 5AM, Ideaya is all about tar­get­ed can­cer ther­a­pies and syn­thet­ic lethal­i­ty — the strat­e­gy of tar­get­ing two genes si­mul­ta­ne­ous­ly for a more po­tent ef­fect. It’s start­ing out with an ear­ly-stage drug picked up for a song from No­var­tis.

Ed Kaye is tak­ing his fledg­ling biotech to Wall Street, look­ing for a new in­jec­tion of cash

Ed Kaye should soon be back to run­ning a pub­lic biotech. 

The Stoke Ther­a­peu­tics CEO, who cut short a brief break af­ter his ex­it from Sarep­ta to run the fledg­ling start­up and un­veil a lean $40 mil­lion launch round pri­mar­i­ly from Ap­ple Tree Part­ners, has steered an S-1 to the SEC. And he’s pen­ciled in a $86 mil­lion raise, look­ing for Wall Street to fund their last steps through pre­clin­i­cal work on a lead pro­gram.

Tread­ing on Nas­daq turf, NYSE cuts list­ing fees to woo biotech

By cut­ting its fees for com­pa­nies with lit­tle to no rev­enue, the New York Stock Ex­change (NYSE) is lay­ing the ground­work to break Nas­daq’s strong hold on the biotech in­dus­try.

Cheap­er list­ing fees, rel­a­tive­ly lax list­ing stan­dards and the chance to be fea­tured on the Nas­daq Biotech­nol­o­gy In­dex has tra­di­tion­al­ly made Nas­daq the biotech list­ing venue of choice. The ra­tio­nale is sound: Drug de­vel­op­ment is not cheap, and ne­ces­si­tates pa­tience. Biotech firms are typ­i­cal­ly in the red for years be­fore they are ready to take their first drug across the fin­ish line.

Bi­cy­cle rais­es $61M in down­sized IPO, join­ing fel­low biotechs on Nas­daq who have hauled in $1.6B col­lec­tive­ly

A splashy syn­di­cate, some big name part­ner­ships and a tech­nol­o­gy de­signed to de­liv­er a ther­a­peu­tic pay­load more pre­cise­ly have en­ticed pub­lic in­vestors to Bi­cy­cle Ther­a­peu­tics’ Nas­daq de­but, which to­taled at $61 mil­lion.

The biotech priced its down­sized IPO $BCYC — in which in­sid­ers pur­chased up to $25 mil­lion — at $14, the low end of the range, a month af­ter pen­cil­ing in $86 mil­lion in the S-1.

Four biotechs haul in $303M+ from a fresh burst of IPOs

De­spite the longest-ever US gov­ern­ment shut­down sub­du­ing IPO ac­tiv­i­ty in the first-quar­ter — health­care IPOs dom­i­nat­ed, ac­count­ing for 70% of the 20 IPOs in the re­gion, ac­cord­ing to ac­count­ing firm Ernst & Young. In­ter­est in the sec­tor has far from cooled — with four drug de­vel­op­ers fo­cus­ing on a range of con­di­tions from the ever-pop­u­lar im­muno-on­col­o­gy to fail­ure-friend­ly Alzheimer’s — set to make their pub­lic de­buts on Thurs­day.

Co­di­ak Bio­sciences out­lines a new fo­cus for its ex­o­some plat­form in $86M IPO fil­ing

Ven­ture rais­es from mar­quee in­vestors? Check. Col­lab­o­ra­tion deal? Check. Clin­i­cal tri­al time­line? Check. For its next step, Co­di­ak Bio­sciences is head­ed for an IPO.

The S-1 re­veals lit­tle that we didn’t al­ready know about the Cam­bridge, MA-based biotech, which has a plat­form to re­pur­pose ex­o­somes as drug de­liv­ery ve­hi­cles to car­ry a range of ther­a­peu­tic pay­loads, from small mol­e­cules to pro­teins to nu­cle­ic acids. CEO Doug Williams has raised $168.2 mil­lion so far in his first gig since leav­ing the top re­search job at Bio­gen, and re­cent­ly brought in a fur­ther $56 mil­lion in up­front pay­ment from an al­liance with Jazz.

Three biotechs re­veal some se­crets about them­selves as they gun for $271M-plus in IPOs

Last week ended with another Friday night blitz of biotech S-1s as a fresh wave of new offerings forms to crash into Nasdaq. Entering the Wall Street spotlight now is one transatlantic operation that is out to develop a new class of meds, a Dallas biotech with a Phase III kidney cancer drug and a startup that in-licensed its lead drug from Novartis.

They are all oncology focused, highlighting the big money that continues to pour into all things cancer related.

Each of these 3 biotechs has been partial to the classic biotech startup game plan, where you flag incoming collaborations with the biggest names you can find to work with — while often staying mum about the cash involved and/or keeping the details about their lead programs under wraps.

Oncology, after all, is an intensely competitive field. But come the S-1s, secrets must be spilled.

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Nine list­ings and $3.8B lat­er, HKEX cel­e­brates one-year biotech an­niver­sary with $194M CRO IPO

So how is Hong Kong stock ex­change’s biotech board do­ing one year af­ter reg­u­la­tors opened up the list­ing regime to pre-rev­enue com­pa­nies in the field?

De­pends on how you look at it.

While on­ly nine biotech com­pa­nies — in­clud­ing one CRO gi­ant — have joined the HKEX this way in the past year, col­lec­tive­ly they have raised $3.8 bil­lion. By IPO pro­ceeds, that makes Hong Kong the sec­ond largest pub­lic biotech hub world­wide af­ter the leader Nas­daq, ac­cord­ing to Re­fini­tiv da­ta cit­ed by the lo­cal South Chi­na Morn­ing Post.

Gilead-part­nered Vi­en­na-based im­munother­a­py com­pa­ny Hookipa makes Nas­daq de­but with down­sized $84M IPO

Gilead-part­nered im­munother­a­py de­vel­op­er Hookipa has been work­ing on tech­nol­o­gy us­ing are­navirus­es — a fam­i­ly of virus­es typ­i­cal­ly host­ed by ro­dents — to tur­bocharge the hu­man im­mune sys­tem to fight in­fec­tious dis­eases and can­cers. The Vi­en­na-based com­pa­ny on Wednes­day priced a down­sized IPO at the low end of its range at $14, rais­ing gross pro­ceeds of $84 mil­lion.

Co-found­ed by Rolf Zinker­nagel — who was award­ed the 1996 No­bel Prize in Phys­i­ol­o­gy or Med­i­cine for his are­navirus-based work — the com­pa­ny will be­gin trad­ing un­der the tick­er sym­bol “HOOK” on Thurs­day.