Curevac’s market cap has ballooned almost fivefold since floating, sending the mRNA company into the record books.
With a $3.2bn valuation ahead of its Nasdaq float – and a market cap that is now 50% higher – Legend Biotech enters the IPO record books.
Private drug developers raised less last year than in 2018, but cash remains plentiful and mega rounds abound.
A stock market rebound created a strong finish for biopharma flotations in 2019, with four $100m-plus floats, led by Phathom Pharmaceuticals.
A big valuation at float is no guarantee of ongoing investor support, as a look at the sector’s biggest IPOs reveals.
Mirati pulls a rabbit out of its hat, but the conference will serve up three new competitors too.
The UK biotech gets a big boost from the sale of a pan-Raf inhibitor to Jazz Pharmaceuticals, but Redx’s money worries are far from over.