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Although no clinical development took place, Axovant held its IPO in June 2015 and raised $315 million, [4] the largest biotech IPO ever, [9] based on new phase IIB trials that were more promising. [10] The lock-up period against reselling stock was reduced to an unusually short 90 days for hedge funds that showed interest in the IPO. [11]
Investment in biotech companies over the past two years has been a fraction of historical levels. After 108 IPOs in 2021, there were only 18 each in 2022 and 2023 as of mid-December.
In July 2015, Soon-Shiong initiated an IPO for NantKwest (formerly ConkWest) that represented the highest value biotech IPO in history, at a market value of $2.6 billion. [50] In April 2016, the Los Angeles Times reported that Soon-Shiong received a pay package in 2015 from NantKwest worth almost $148 million, making him one of the highest paid ...
[citation needed] Avalanche went public through an IPO in 2014, raising $102 million. [6] In 2015, co-founder Tom Chalberg stepped down as CEO following Phase IIa trial results that were labeled as "iffy". [7] In May 2016, Avalanche acquired Annapurna Therapeutics and changed its name to Adverum Biotechnologies. [8]
Leading U.S. exchange for healthcare, technology and biotech IPOs: Nasdaq maintained its strong track record in the healthcare, technology and biotech sectors. Further, 100% of eligible biotech companies listed on Nasdaq, including CG Oncology, the largest biotech listing so far this year.
This IPO Biotech Stock Could Be the Next Eli Lilly. Alex Carchidi, The Motley Fool. October 3, 2024 at 9:05 AM. Eli Lilly's (NYSE: LLY) stock is up by more than 736% over the last five years ...
The IPO raised $604.3 million and eclipsed the $373 million raised by Allogene Therapeutics in October, which is the largest biotech since Axovant Sciences' $363 million IPO in 2015.
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