Sana among 10 biotechs set to flood market for IPOs

With a queue of biotechs swelling, the dam is set to burst this week as at least six biotechs are likely to price NASDAQ offerings among 10 that have proposed terms for their listings.

Although most of them have reached the clinic, two have not, including the company that has proposed the largest offering: cell and gene therapy company Sana Biotechnology Inc. Backed by Arch Venture Partners and Flagship Pioneering, Sana could raise close to $400 million at a valuation around $4 billion if it prices within expectations and fulfills its greenshoe option...