Data Bytes: preclinical IPO performance trending up

IPOs by preclinical biotechs since 2013 had largely been hit or miss until the past 18 months, when a trend toward positive aftermarket performance has emerged. Sixty percent of the 53 preclinical IPOs on NASDAQ from Jan. 1, 2013 through June 30, 2020 were above their debut price at the close of 1H20. In the past 18 months, 17 of 22 (77%) new issues were in the black.

Ten of the preclinical plays were up more than 100% from their list price, and six of that group gained at least 300%: synthetic biology company Synthorx Inc., with a gain of 518%; gene editing company CRISPR Therapeutics AG (NASDAQ:CRSP), at 425%; bispecific mAb company IGM Biosciences Inc. (NASDAQ:IGMS), at 356%; precision cancer company Blueprint Medicines Corp. (NASDAQ:BPMC), at 333%; gene therapy company Krystal Biotech Inc. (NASDAQ:KRYS), at 314%; and Audentes Therapeutics Inc., at 300%. ...