ARTICLE | Finance
Plus: Follow-ons for Sagimet, Tourmaline and Adicet, and PIPEs for Kura, ORIC and CalciMedica
By Paul Bonanos, Director of Biopharma Intelligence
January 27, 2024 12:30 AM UTC
New listings from CG Oncology and ArriVent provided hopeful signs for a 2024 rebound in the biotech IPO market, while cash continued to flow into biopharmas via follow-ons and PIPEs.
Enthusiasm for the listing by CG Oncology Inc. (NASDAQ:CGON) gained momentum during the week, as the company first upsized its proposal, then priced above expectations and gained value in the aftermarket. An initial 11.8 million-share proposal swelled to 17 million shares; CG then sold 20 million shares at the top of its range, raising $380 million — the most for a new-to-NASDAQ biotech since the $621 million offering by Acelyrin Inc. in May 2023…
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- Source: https://www.biocentury.com/article/651272/public-equity-roundup-cg-arrivent-ipos-stoke-optimism-for-growing-queue