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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]
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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.
In May 2014, Kite Pharma filed a registration with the SEC for an initial public offering (IPO) of its common stock. [45] In June 2014, Kite Pharma sold 8,625,000 shares of its common stock in their IPO at $17.00 per share, for gross proceeds of $146.6 million. [46] [47] [48] The company listed on the NASDAQ Global market under the symbol ...
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.
The following table lists the largest biotechnology and pharmaceutical companies ranked by market capitalization in billion US dollars. The change column indicates the company's relative position in this list compared to their relative position in the preceding year; i.e., an increase would be moving closer to rank 1 and vice versa.