IPO TRACKER

A real-time look at every biotech IPO filed and the amount raised in all the world's indexes. Compiled by editor Max Gelman.

COMPANIES
RAISED
Traditional IPOs

20

2.74B

SPACs

0

0

TOTAL

20

2.74B

IPO Tracker Logo
Explore: 202120222024
Q1
Ca­dren­al Ther­a­peu­tics
Genelux
Struc­ture Ther­a­peu­tics
Min­eralys Ther­a­peu­tics
Q2
Cy­toMed Ther­a­peu­tics
Ace­lyrin
Az­i­tra
In­ten­si­ty Ther­a­peu­tics
Q3
60 De­grees Phar­ma­ceu­ti­cals
Apogee Ther­a­peu­tics
Sagimet Bio­sciences
Turn­stone Bi­o­log­ics
Mi­ra Phar­ma­ceu­ti­cals
Rayze­Bio
Neumo­ra Ther­a­peu­tics
Ad­lai Nortye
Q4
Abi­vax
Lex­eo Ther­a­peu­tics
Car­go Ther­a­peu­tics
Car­mot Ther­a­peu­tics

FILED

Car­mot Ther­a­peu­tics

Type & Stage
IPO: Filed
CEO
Heather Turner
ticker
CRMO
exchange
NASDAQ
Filed Date
17 November
Est Raise
Unknown

snapshot ▲

The car­diometa­bol­ic biotech ran a dual-track process in fall 2023 and had filed for a po­ten­tial IPO that was ex­pect­ed in De­cem­ber, but Roche’s $2.7 bil­lion up­front buy­out was too en­tic­ing for Car­mot Ther­a­peu­tics to pass up. Roche got its hands on oral GLP-1 can­di­dates as al­most every Big Phar­ma looks to en­ter the obe­si­ty and di­a­betes field. Car­mot’s pri­vate fi­nanc­ing jour­ney was long, go­ing all the way to a $150 mil­lion Se­ries E in sum­mer 2023 af­ter ear­li­er in the year spin­ning out Kimia Ther­a­peu­tics.

coverage

PRICED

Car­go Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Gina Chapman
ticker
CRGX
exchange
NASDAQ
IPO Date
10 November
Total Raised
$281M
Priced at
$15
Current Price
$22.5

snapshot ▲

The CAR-T biotech was one of the few cell and gene ther­a­py star­tups to land on Wall Street in 2023. CAR­GO is test­ing a CD22 au­tol­o­gous cell ther­a­py in pa­tients with large B-cell lym­phoma who have failed on pre­vi­ous CD19 CAR-T ther­a­py, and the biotech hopes the study will sup­port a quick ap­proval. It emerged ear­ly in 2023 with a $200 mil­lion Se­ries A.

coverage

Lex­eo Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
R. Nolan Townsend
ticker
LXEO
exchange
NASDAQ
IPO Date
3 November
Total Raised
$100M
Priced at
$11
Current Price
$16.81

snapshot ▲

New-York based gene ther­a­py de­vel­op­er Lex­eo Ther­a­peu­tics pulled in $100 mil­lion in its IPO, pric­ing 9.09 mil­lion shares of its com­mon stock at $11 per share on Nov. 2. The com­pa­ny’s pric­ing was $2 low­er than it had orig­i­nal­ly pro­posed. Lex­eo ex­pects to have Phase I/II da­ta for its gene ther­a­py for Friedre­ich’s atax­ia car­diomy­opa­thy in the mid­dle of next year and Phase I/II da­ta for its Alzheimer’s gene ther­a­py in the sec­ond half of 2024.

coverage

Abi­vax

Type & Stage
IPO: Priced
CEO
Marc de Garidel
ticker
ABVX
exchange
NASDAQ
IPO Date
20 October
Total Raised
$235.8M
Priced at
$11.6
Current Price
$13.17

snapshot ▲

The Paris-list­ed biotech al­so joined the US stock ex­change in fall 2023 as it runs a Phase III tri­al of its in­flam­ma­to­ry bow­el dis­ease pill. The decade-old Abi­vax priced at the low end of its range to “rec­og­nize that the gen­er­al mar­ket is not easy,” CEO Marc de Garidel told End­points News.

coverage

Ad­lai Nortye

Type & Stage
IPO: Priced
CEO
Yang Lu
ticker
ANL
exchange
NASDAQ
IPO Date
29 September
Total Raised
$97.5M
Priced at
$23
Current Price
$9.13

snapshot ▲

The late-stage biotech joined the Nas­daq in the lead-up to a po­ten­tial ac­cel­er­at­ed ap­proval fil­ing in the sec­ond half of 2024. Its lead can­di­date is a PI3K in­hibitor li­censed from No­var­tis and in Phase III for squa­mous cell car­ci­no­ma of the head and neck. In 2021, it had filed for a Hong Kong Stock Ex­change list­ing.

coverage

Rayze­Bio

Type & Stage
IPO: Priced
CEO
Ken Song
ticker
RYZB
exchange
NASDAQ
IPO Date
14 September
Total Raised
$311M
Priced at
$18
Current Price
$62.13

snapshot ▲

Ra­dio­phar­ma start­up Rayze­Bio’s $311 mil­lion IPO was one of the biggest of the year. The Phase III biotech went pub­lic as ra­dio­ther­a­pies took off in biotech, and Bris­tol My­ers Squibb inked a $4.1 bil­lion deal to buy Rayze­Bio in late De­cem­ber.

coverage

Neumo­ra Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Henry Gosebruch
ticker
NMRA
exchange
NASDAQ
IPO Date
14 September
Total Raised
$250M
Priced at
$17
Current Price
$17.02

snapshot ▲

Clin­i­cal-stage bio­phar­ma Neumo­ra Ther­a­peu­tics, which is de­vel­op­ing drugs for brain dis­eases, priced its IPO at $17 per share, sell­ing 14.7 mil­lion shares for about $250 mil­lion. Neumo­ra cur­rent­ly has sev­en clin­i­cal and pre­clin­i­cal neu­ro­science pro­grams tar­get­ing a range of neu­ropsy­chi­atric dis­or­ders and neu­rode­gen­er­a­tive dis­eases. It was found­ed in 2019, with the back­ing of Arch Ven­ture Part­ners. Then in 2021, Am­gen made a $100 mil­lion eq­ui­ty in­vest­ment as part of a col­lab­o­ra­tion. In Ju­ly, the com­pa­ny start­ed a Phase III tri­al for nava­caprant, a monother­a­py for the treat­ment of ma­jor de­pres­sive dis­or­der, af­ter mid-stage stud­ies showed the drug had sta­tis­ti­cal­ly sig­nif­i­cant and clin­i­cal­ly mean­ing­ful changes in de­pres­sion symp­toms.

coverage

Mi­ra Phar­ma­ceu­ti­cals

Type & Stage
IPO: Priced
CEO
Erez Aminov
ticker
MIRA
exchange
NASDAQ
IPO Date
3 August
Total Raised
$8.9M
Priced at
$7
Current Price
$0.96

snapshot ▲

The Bal­ti­more-based biotech is de­vel­op­ing a syn­thet­ic THC ana­log and is look­ing at treat­ing anx­i­ety, cog­ni­tive de­cline and oth­er neu­ropsy­chi­atric dis­or­ders.

coverage

Turn­stone Bi­o­log­ics

Type & Stage
IPO: Priced
CEO
Sammy Farah
ticker
TSBX
exchange
NASDAQ
IPO Date
21 July
Total Raised
$80M
Priced at
$12
Current Price
$2.78

snapshot ▲

The sol­id tu­mor biotech went pub­lic to sup­port clin­i­cal tri­als of its lead tu­mor-in­fil­trat­ing lym­pho­cyte ther­a­py, a new­er class of ther­a­pies that have yet to re­ceive an FDA ap­proval. The biotech pre­vi­ous­ly had part­ner­ships with Ab­b­Vie and Take­da, but both phar­ma com­pa­nies dropped their pacts.

coverage

Sagimet Bio­sciences

Type & Stage
IPO: Priced
CEO
David Happel
ticker
SGMT
exchange
NASDAQ
IPO Date
14 July
Total Raised
$85M
Priced at
$16
Current Price
$10

snapshot ▲

The Phase IIb biotech went pub­lic as the NASH field (now some­times called MASH) tries to ride a turn­around af­ter years of de­vel­op­ment fail­ures. The biotech had ini­tial­ly sought to go pub­lic in 2021, but the chilled mar­kets led it to di­al back those am­bi­tions in spring 2022.

coverage

Apogee Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Michael Henderson
ticker
APGE
exchange
NASDAQ
IPO Date
13 July
Total Raised
$300M
Priced at
$17
Current Price
$27.99

snapshot ▲

Start­up Apogee Ther­a­peu­tics, which spun out of Paragon Ther­a­peu­tics, emerged from stealth last year with $169 mil­lion be­fore go­ing pub­lic in Ju­ly. The com­pa­ny pulled in $345 mil­lion for the com­pa­ny for  20.2 mil­lion shares. Apogee fo­cused on APG777, an un­der-the-skin mon­o­clon­al an­ti­body-tar­get­ing IL-13. The drug is ex­pect­ed to en­ter a healthy vol­un­teer study in Aus­tralia be­fore the end of the year, with plans for a Phase II in atopic der­mati­tis if all goes well in the first tri­al. In Au­gust, Apogee said it ex­pects to have ini­tial da­ta for APG777 in the mid­dle of 2024. Apogee’s al­so de­vel­op­ing a mAb tar­get­ing IL-4Rα for COPD, and it has two ear­li­er-stage pro­grams, APG990 and APG222, in atopic der­mati­tis.

coverage

60 De­grees Phar­ma­ceu­ti­cals

Type & Stage
IPO: Priced
CEO
Geoffrey Dow
ticker
SXTP
exchange
NASDAQ
IPO Date
12 July
Total Raised
$7.5M
Priced at
$5.3
Current Price
$0.29

snapshot ▲

The DC-based biotech cre­at­ed a malar­ia pre­ven­tion treat­ment and is at­tempt­ing to move in­to Covid-19 and oth­er in­fec­tious dis­eases.

coverage

In­ten­si­ty Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Lewis Bender
ticker
INTS
exchange
NASDAQ
IPO Date
30 June
Total Raised
$19.5M
Priced at
$5
Current Price
$4.99

snapshot ▲

The clin­i­cal-stage Con­necti­cut biotech is work­ing on can­cer ther­a­peu­tics and ex­pects to be­gin a Phase III study in the first half of 2024.

coverage

Az­i­tra

Type & Stage
IPO: Priced
CEO
Francisco Salva
ticker
AZTR
exchange
NYSE
IPO Date
16 June
Total Raised
$7.5M
Priced at
$5
Current Price
$1.2

snapshot ▲

The Bran­ford, CT-based biotech is work­ing on der­ma­to­log­i­cal prod­ucts for a rare pe­di­atric dis­ease, can­cer ther­a­py-as­so­ci­at­ed rash and oth­er in­di­ca­tions, and it has a col­lab­o­ra­tion with Bay­er.

coverage

Ace­lyrin

Type & Stage
IPO: Priced
CEO
Shao-Lee Lin
ticker
SLRN
exchange
NASDAQ
IPO Date
4 May
Total Raised
$540M
Priced at
$18
Current Price
$7.47

snapshot ▲

Im­munol­o­gy bio­phar­ma Ace­lyrin raised $540 mil­lion with an up­sized ini­tial pub­lic of­fer­ing of 34.5 mil­lion shares of com­mon stock. At the time of a $250 mil­lion Se­ries B in 2021, Ace­lyrin CEO Shao-Lee Lin, who pre­vi­ous­ly led R&D at Hori­zon Ther­a­peu­tics, told End­points News that her com­pa­ny would pon­der an IPO “with­in the con­text of 2022.” They raised an­oth­er $300 mil­lion last fall. The com­pa­ny is in­ves­ti­gat­ing izok­ibep, an IL-17a in­hibitor, in mul­ti­ple Phase IIb/III stud­ies for mod­er­ate-to-se­vere hidradeni­tis sup­pu­ra­ti­va (HS), uveitis and pso­ri­at­ic arthri­tis with ex­pec­ta­tions for a da­ta drop as soon as the sec­ond half of 2023. Ace­lyrin paid Af­fi­body $25 mil­lion up­front in 2021 and will dole out up to $280 mil­lion more in reg­u­la­to­ry and sales mile­stones and roy­al­ties for the drug. Ace­lyrin has a Phase I thy­roid eye dis­ease can­di­date, an an­ti-IGF-1R dubbed lonigutam­ab. A Phase I/II tri­al in pa­tients is on­go­ing. Ace­lyrin al­so has SLRN-517, a ful­ly hu­man mon­o­clon­al an­ti­body tar­get­ing c-KIT, in a Phase I/II tri­al in both healthy vol­un­teers and chron­ic ur­ticaria pa­tients. That study is ac­tive­ly en­rolling.

coverage

Cy­toMed Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Choo Chee Kong
ticker
GDTC
exchange
NASDAQ
IPO Date
14 April
Total Raised
$9.64M
Priced at
$4
Current Price
$3.54

snapshot ▲

The Sin­ga­pore-based biotech is work­ing on off-the-shelf cell ther­a­pies for can­cer in south­east Asia and was spun out of Sin­ga­pore’s Agency for Sci­ence, Tech­nol­o­gy and Re­search, or A*STAR, in 2018.

coverage

Min­eralys Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Jon Congleton
ticker
MLYS
exchange
NASDAQ
IPO Date
9 February
Total Raised
$220.8M
Priced at
$16
Current Price
$8.62

snapshot ▲

Drug de­vel­op­er Min­eralys Ther­a­peu­tics closed its IPO of 13.8 mil­lion shares of com­mon stock in Feb­ru­ary, col­lect­ing ag­gre­gate gross pro­ceeds of $220.8 mil­lion. The Penn­syl­va­nia-based com­pa­ny plans to use the mon­ey on de­vel­op­ment of its hy­per­ten­sion drug lorun­dro­stat, an al­dos­terone syn­thase in­hibitor. Min­eralys an­nounced in Ju­ly an ex­pand­ed, ex­plorato­ry two-part Phase II tri­al test­ing out lorun­dro­stat as a po­ten­tial treat­ment for stage 2 to 4 chron­ic kid­ney dis­ease. The com­pa­ny plans to start en­rolling pa­tients in the sec­ond half of 2023 while topline da­ta is ex­pect­ed be­tween the end of 2024 and the be­gin­ning of 2025. The biotech li­censed lorun­dro­stat from Japan’s Mit­subishi Tan­abe. Min­eralys first hit the scene in 2021 with $40 mil­lion in Se­ries A funds with its fo­cus on al­dos­terone, a hor­mone linked to in­creased blood pres­sure and a con­trib­u­tor to the de­vel­op­ment and pro­gres­sion of chron­ic kid­ney dis­ease.

coverage

Struc­ture Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Raymond Stevens
ticker
GPCR
exchange
NASDAQ
IPO Date
2 February
Total Raised
$161M
Priced at
$15
Current Price
$40.29

snapshot ▲

Struc­ture Ther­a­peu­tics pulled off a $161 mil­lion IPO thanks to a star sci­en­tist co-founder paired with the com­pu­ta­tion­al drug dis­cov­ery com­pa­ny Schrödinger. Struc­ture, known as ShouTi un­til last sum­mer, al­so pulled in $198 mil­lion in pri­vate fund­ing from blue-chip in­vestors and has years of re­search work on G pro­tein-cou­pled re­cep­tors (GPCR) and a port­fo­lio of oral, small-mol­e­cule drugs. Ray­mond Stevens, the co-founder and CEO, is cred­it­ed for map­ping the first hu­man GPCR in 2007 while at Scripps Re­search. The mon­ey raised from the IPO is go­ing to­ward Struc­ture’s small-mol­e­cule, oral drug GS­BR-1290 which “demon­strat­ed glu­cose-de­pen­dent in­sulin se­cre­tion and sup­pressed food in­take, re­sult­ing in weight re­duc­tion,” ac­cord­ing to the S-1 fil­ing. In May, Struc­ture start­ed a Phase IIa study of GS­BR-1290 in adults who are over­weight or obese and in pa­tients with type 2 di­a­betes who are over­weight or obese. Struc­ture is head­quar­tered in San Fran­cis­co and has a site in Shang­hai.

coverage

Genelux

Type & Stage
IPO: Priced
CEO
Thomas Zindrick
ticker
GNLX
exchange
NASDAQ
IPO Date
26 January
Total Raised
$15M
Priced at
$6
Current Price
$10.57

snapshot ▲

The West­lake Vil­lage, CA-based biotech is test­ing on­colyt­ic vi­ral im­munother­a­pies for can­cer in clin­i­cal tri­als.

coverage

Ca­dren­al Ther­a­peu­tics

Type & Stage
IPO: Priced
CEO
Quang Pham
ticker
CVKD
exchange
NASDAQ
IPO Date
20 January
Total Raised
$7M
Priced at
$5
Current Price
$1.41

snapshot ▲

The clin­i­cal-stage Flori­da biotech is work­ing on a car­diore­nal ther­a­py that has or­phan drug des­ig­na­tion.

coverage

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