Finance Watch: Billions Of Dollars In Offerings Despite US Biopharma Stock Slump
Blueprint and Zymeworks raise $300m-plus in follow-on offerings. Also, Arcutis, Black Diamond and Annovis bring the 2020 US IPO count to four; Spring Bank, Surface Oncology and Decibel reveal strategic shifts; and Harmony’s $200m in venture debt leads recent VC deals.
Recent follow-on public offerings (FOPOs) defied the year-to-date decline in biopharmaceutical stock values with FOPOs as large as $325m for Blueprint Medicines Corp. and $320.8m for Zymeworks Inc., hitting the market in late January.
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