IPOs abound in the time of coro­n­avirus, as For­ma Ther­a­peu­tics pen­cils in $150M Nas­daq de­but

The IPO en­gine is thriv­ing, nev­er mind the ram­page of the coro­n­avirus cri­sis on R&D time­lines.

On Fri­day, along with syn­thet­ic lethal­i­ty-fo­cused biotech Re­pare Ther­a­peu­tics, an­oth­er Bris­tol My­ers part­ner For­ma Ther­a­peu­tics al­so un­veiled its plans to vault on to the Nas­daq — pen­cil­ing in a tar­get of $150 mil­lion.

The Wa­ter­town, Mass­a­chu­setts-based com­pa­ny — which poached se­nior Genen­tech ex­ec­u­tive Frank Lee to take over the reins last year af­ter more than a decade un­der founder Steve Tre­gay — raised a plump $100 mil­lion late last year, while shep­herd­ing its sick­le cell dis­ease (SCD) drug through an ear­ly-stage tri­al.

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