New listings push IPO pace ahead of last year’s

A spate of biotech IPOs this week in which five companies raised nearly $620 million helped push the biopharma sector’s total haul from NASDAQ listings ahead of 2018’s record pace.

Of the five to price this week, four companies were biopharmas. In that category, 24 companies have raised more than $2.4 billion via NASDAQ listings thus far in 2019. Last year through June 20, 23 companies raised almost $2.3 billion via NASDAQ IPOs (see “Paper Chase”)...