Double-Clicking into BioPharma IPOs

I compiled a list of IPOs and related data since 2018 and cut the data every which way to tease out some trends and insights - hope you enjoy!

Introduction

This week, the recent IPOs of Rayze Bio and Neumora caught my interest, with the companies raising ~$311M and $250M, respectively. With the pall that has seemingly been over the entire sector over the last several years, these massive fundraising returns made me feel like perhaps our sector is about to turn a corner.

I decided to build an IPO database starting in 2018 until the present. Much of this data was taken from BioPharma Dive’s free IPO tracker as well as data on fundamentals from Yahoo Finance. BioPharma Dive specifically has some really nice summary heatmaps that are worth taking a look at if you get time. Please note that some of the data from both sources was incomplete, so I had to dig through press releases, company filings, and other databases to fill in the gaps. **Pro/Industry Tier subscribers will be able to download this database and all supporting charts from the Documents Library on the Big Pharma Sharma Homepage.**

Below I’ve created a few charts that I thought were fairly telling about the recent history and current state of the Biotech IPO markets. Underneath each chart I try to summarize my takeaways, thoughts, and insights.Without further ado, let’s get into it.