Na­tal­ie Holles tests the Nas­daq wa­ters with Third Har­mon­ic IPO

In an­oth­er year, the swift path Third Har­mon­ic Bio is tak­ing from a $105 mil­lion Se­ries B in Feb­ru­ary to an IPO now might on­ly seem nat­ur­al.

But com­ing amid a bru­tal bear mar­ket that’s de­pressed biotech stocks and forced many com­pa­nies in­to re­struc­tur­ing, the S-1 filed Tues­day comes al­most as a sur­prise — and how it fares on its pub­lic de­but could serve as a help­ful in­di­ca­tor for the in­dus­try, as some ob­servers be­gin to won­der whether a turn­around is loom­ing. Though Third Har­mon­ic did not pen­cil in a raise es­ti­mate in the S-1, Re­nais­sance Cap­i­tal re­port­ed the biotech would seek $150 mil­lion.

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