The biotech unicorns are back: Alector burnishes its $1.3B valuation in an IPO that generates $176M in cash
The biotech IPO window is open again, and Alector has taken the leap in style, raising $176 million at a $19 midpoint price and backing up its unicorn valuation of $1.3 billion.
The news should offer considerable solace to a long lineup of biotechs either in the queue for Nasdaq or prepping their S-1. At the head of that list is Gossamer, which had to adjust course a couple of times after the government shutdown shuttered the SEC review process for IPOs. Now that the shutdown is over, at least until mid-month, the rush is on to continue to reap a rich harvest of cash from a still receptive market. And Gossamer is one of 5 other biotechs ready to punch the IPO ticket soon.
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