Finance

Oct. 15 Financial Quick Takes: Phathom, Galera, J&J earnings, RTW Investments, Azitra, MaveriX

Phathom, Galera move toward listings  Phathom Pharmaceuticals Inc. proposed terms for an IPO on NASDAQ. The GI company proposed to sell 7.9 million shares at $18-$20; at the mid-point, it would raise $150.1 million at...

Cyteir synthetic lethality compound prompts Novo to lead $40M investment

After bringing its lead candidate to the clinic, Cyteir raised $40.2 million in a series B extension to propel the first-in-class RAD51 inhibitor to clinical proof of concept and enable the development of a second...

Woodford flagship fund implodes as star fund manager axed

Neil Woodford’s struggles have come to an acrimonious end as the once vaunted British investor has been removed as fund manager of his firm’s flagship fund, Woodford Equity Income Fund, which is to be shuttered...

Abalos launches with €12M for arenavirus-based cancer therapies

Abalos launched Tuesday with a €12 million ($13.2 million) series A round to advance its arenavirus-based cancer therapies -- an alternative to oncolytic viruses that rely on prolonged immune responses to clear tumors. Boehringer Ingelheim...

Mogrify raises $16M, outlines plans to advance cell therapy platform

After raising $16 million in the first close of a series A round, Mogrify unveiled more of its cell therapy pipeline and laid out goals to enhance its cell reprogramming platform. Existing investor Ahren Innovation...

As newly public biotechs stumble out of gate, 89bio, Centogene join IPO queue

89bio and Centogene B.V. filed on Friday to go public on NASDAQ in a week that saw two high profile offerings encounter headwinds after their debuts on the exchange. NASH company 89bio Inc. proposed to...

Vir’s aftermarket weakness adds to skittishness for IPO queue

The tepid performances of two high-profile IPOs late in the week added to a widening body of evidence that investors’ demand for new biotech listings has begun to weaken, despite a long queue of companies...

Beyond diabetes: T1D Fund’s new remit broadens venture base

The JDRF T1D Fund’s investment in ImmunoMolecular Therapeutics this week is the latest example of how the venture philanthropy fund is leveraging new insights around autoimmune biology and the fund’s growing capital base to expand...

As IPO queue swells, BioNTech underwhelms in NASDAQ debut

Shares of BioNTech sagged 5% to $14.24 in its first day of trading Thursday after the company priced its IPO amid diminished expectations. The German biotech had hoped to obtain a valuation well above $4...

Oct. 9 Financial Quick Takes: BioNTech, DBV, MiroBio, Hrain, Beijing Gene+, Ginkgo

BioNTech cuts IPO terms   BioNTech AG now plans to sell fewer shares at a lower price range in a move that could shave nearly $1 billion off the biotech’s postmoney valuation. The company’s latest...

Woodford fire sale continues with Irish investment firm Malin

New disclosures came Tuesday on Woodford’s latest fire sale as Malin disclosed that on Oct. 1, Woodford had sold the majority of its stake in the Irish investment vehicle to a U.S. fund. The move...

Seeking bright spots in 4Q19 amid continued underperformance

Biotech watchers are hoping a busy fourth quarter of data readouts, regulatory actions and IPOs will provide some bright spots to counteract the sector’s continued overall underperformance, which is not expected to improve in 2020....

Oct. 4 Financial Quick Takes: Innovent raises $300M in Hong Kong's first biotech follow-on; plus Oyster Point, Heron, Molecular Assemblies and Geneoscopy

Innovent brings in first follow-on of HKEX's biotech chapter  A year after going public on the Hong Kong stock exchange, Innovent Biologics Inc. (HKEX:1801) raised HK$2.4 billion ($299.8 million) through the sale of 97 million...

Biotech down again in 3Q19

Biotech stocks are continuing a downward trend, with all market cap tiers losing value in 3Q19, leading to a total quarterly loss of $88.8 billion. Companies valued at $1-$4.9 billion, $5-$9.9 billion and above $10...

Biotechs likely to flood IPO market ahead of 2020 election

Buysiders and bankers expect a flood of IPOs and a stock picker's market in 4Q19 amid a continued run of sector underperformance that is only expected to get worse in 2020. As macro pressures continue...