Eye­ing $86M, Galera leads a pack of three mod­est biotech IPOs push­ing past high pro­file stum­bles

Ex­act­ly one year af­ter kick­ing off a piv­otal Phase III study for its lead drug — a com­pan­ion for can­cer pa­tients re­ceiv­ing ra­dio­ther­a­py — Galera is look­ing to the Nas­daq for some new cash to com­plete the clin­i­cal work and fu­el its com­mer­cial dri­ve.

CEO Mel Sorensen has pen­ciled in an $86 mil­lion ask, which was filed on the same day as liv­er dis­ease com­pa­ny 89bio and rare dis­ease di­ag­nos­tics shop Cen­to­gene. The trio marks the first batch of IPO fil­ings in the wake of two high­ly an­tic­i­pat­ed but ul­ti­mate­ly dis­ap­point­ing pub­lic de­buts by BioN­Tech and Vir, sig­nal­ing dwin­dling biotech fer­vor on Wall Street. 89bio and Cen­to­gene are seek­ing $70 mil­lion and $69 mil­lion, re­spec­tive­ly.

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