IPOs in the medical device sector are bigger than in biotech, but performance, at least of the biggest groups, is mixed.
Spacs still have their supporters, but SEC scrutiny and mixed post-deal performance mean that the story is losing its lustre.
IPOs of drug developers raised $9bn in the first half of 2021, a record amount that is hard to square with talk of moderation.
The first quarter of 2021 sets a new record, but the tide might be starting to turn.
The clock is ticking for the flood of blank-cheque companies that raised money last year, and competition is only getting hotter.
2020 was a bountiful year for medtechs making their public debut, with one group, Inari Medical, more than quadrupling in value.
Whether investor enthusiasm for drug stocks holds up this year is the burning question for IPO followers.
A look at how drug developers fare after floating in Europe suggests why many tread a path to the US and a Nasdaq listing.
Investors are piling into biotech IPOs, but the track record of previous years' new issues shows how hard it is to pick winners.