Highly unusually most of the cash raised via IPOs in 2017 came via offerings outside the US.
Biotechs raised $3.9bn in IPOs across 2017, signalling that investor interest in new issues has returned.
Another billion dollar quarter for biotech IPOs signals that investor appetite for high-risk offerings is strong.
The biotech IPO market records its first billion dollar quarter in two years as demand for new issues recovers.
Only six IPOs have gone out so far in 2017, and three of them have been in Sweden.
Demand for new issues remains sluggish - only eight private biotechs managed to pull off an IPO in the first quarter of 2017.