Three biotechs raise $850M+ in upsized IPOs, gain in aftermarket: Public Equity Report

IPOs on NASDAQ by a trio of biotechs exceeded expectations this week, lifting hopes that the window for new listings is broadening and overall risk in the sector is on the wane.

Tepid aftermarket performances by some biotechs that conducted offerings this year, coupled with high volatility during the early days of the Iran war, had slowed the flow of offerings in March and early April. But with the CBOE Volatility Index (VIX) dipping below $20 in recent weeks, life sciences companies that have tested the market have seen warm receptions to their listings...