The market for biopharmaceutical initial public offerings is still far from ramping up to the boom years of 2020 and 2021, but with 12 IPOs as of Parabilis Medicines’ record-breaking launch on June 9, drug developers have launched just as many first-time offerings in the US in 2026 as they did by year-end in 2025. And while the number of IPOs remains below the industry’s record of 107 offerings in 2021, companies are raising large sums to advance later-stage drug candidates and ex-US markets are becoming receptive to biopharma IPOs.
Parabilis grossed $670m initially, plus $75m from a concurrent private placement, but the cancer drug developer’s...




