IPO floodgates open up after summer lull as five more biotechs file for Nasdaq
It’s once again open season for biotech IPOs, as the summer drought has given way to an autumn flood.
Five companies filed to go public on Friday, including four penciling in $100 million fundraises: Evotec, Entrada Therapeutics, Aura Biosciences and Vaxxinity. The fifth biotech, Blue Water Vaccines, is estimating a more modest $24 million.
The combined industry raise surpassed $14 billion last week after two more biotechs priced, per the Endpoints News tally, and the sector remains on pace to eclipse last year’s record of $16.5 billion. It could come down to the wire, however, after a third quarter lull that saw the lowest levels of IPO numbers since the start of 2020.
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