Lucky No. 13? Artiva Goes Public, Rises In First Day Of Trading

Average Biopharma Return Is -22.3% So Far In 2024

 
• By Mandy Jackson
  
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Artiva grossed $167m by selling more shares than previously planned, but at a significantly lower price per share than it proposed earlier in the week, to fund its NK cell therapy programs.

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Artiva launched the 13th biopharma IPO in the US in 2024 • Source: Shutterstock

Artiva Biotherapeutics, Inc.’s initial public offering late on 18 July reflected the mixed bag that the IPO market has become. To get the offering through the IPO window at a time when first-time offerings by biopharmaceutical companies are generating a negative average return, Artiva needed to sell a higher number of shares than planned at a lower price than it proposed earlier in the week.

Key Takeaways

  • NK cell therapy developer Artiva grossed $167m in the 13th biopharma IPO in the US in 2024, but had to increase the number of shares and lower its share price to get its offering into the market.

San Diego-based Artiva was the 13th drug developer to launch an IPO in the US so far this year with...

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