Finance Watch: Prime Medicine Launches Second-Largest IPO In Second Half Of 2022

One Of Only Two $100m-Plus First-Time Offerings in H2

 
• By Mandy Jackson
  
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Public Company Edition: Prime Medicine raised $175m, making its offering the sixth-largest out of 19 biopharma IPOs in the US this year. Also, Oculis and AUM opted to go public via SPAC mergers, Insmed raised $775m from multiple financings and Dice capitalized on positive data with a $300m offering.

Finance Watch Public Company
• Source: Alamy

Prime Medicine, Inc.’s $175m initial public offering late on 19 October was only the second IPO in the US launched by a biopharmaceutical firm during the second half of 2022 that raised more than $100m. And in a notable feat for a preclinical company in a year when the number of first-time offerings have dropped sharply from the record high of 107 IPOs in 2021, Prime had the sixth-largest offering of the 19 drug developers that have gone public so far this year.

The Cambridge, MA-based company priced 10.3 million shares at $17 each, which was in the middle of a previously proposed...

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