Werewolf, Vaccitech IPOs signal continued appetite for fresh biotech paper

A third of the way through 2021, appetite for new listings has allowed biopharmas to raise more than three times as much cash via NASDAQ IPOs as they did during the same period last year.

Making their debuts Friday were Werewolf Therapeutics Inc. (NASDAQ:HOWL) and Vaccitech plc (NASDAQ:VACC), which went in opposite directions after pricing at the midpoint of their proposed ranges. Werewolf ended the day with a modest $0.10 gain to $16.10 after briefly trading as high as $23.99, while Vaccitech’s ADSs were off $2.90 (17%) to $14.10, never having approached their offering price of $17 once the session began...