Finance Watch: VC Round Extensions Attractive While Stock Market Wobbles

2022 Ended With Just 22 Biopharma IPOs

 
• By Mandy Jackson
  
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Private Company Edition: While Coya Therapeutics raised $15.25m in the final initial public offering in the US last year, Apnimed stayed private raising $80m in a series C extension and Metagenomi extended its series B by $100m to total $275m.

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Coya Therapeutics, Inc. launched the final biopharmaceutical initial public offering in the US in 2022 on 29 December, raising $15.25m from the sale of 3.05 million shares at $5 each, which brought the year’s total to 22 IPOs – just 20% of the record-breaking 107 drug developer IPOs that launched in 2021. But while several companies sputtered onto the stock market with small offerings, many other drug developers opted to stay private a while longer, waiting for better market conditions.

Last year was expected to be a more muted year for IPOs as investor sentiment soured regarding biopharma investments –...

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