2/27/2024 0 Comments Medical device recent iposOther proposed deals include cannabinoid-based drug developer Mira Therapeutics ( MIRA), which is considering a $16M raise, and lab equipment maker Scientific Industries ( OTCQB:SCND), which is looking to uplist its shares and raise around $10M. NASH drug developer Sagimet Biosciences ( SGMT) refiled its IPO registration in June, this time looking to raise around $75M. The 22 acquisitions and 24 IPOs are both record figures, topping the high marks of 20 takeovers in 2018 and 21 stock listings in 2015. Other larger deals include Turnstone Biologics ( TSBX), which is eyeing an $86M raise, and Swiss biotech Biolingus ( SUBL), which is seeking $47M. Medical device M&A and IPOs hit new highs in 2021, with 46 companies securing exits for their investors in deals that valued them collectively at 27 billion, according to a new report from Silicon Valley Bank. Apogee Therapeutics ( APGE) indicated it was seeking to raise $100M, a figure that's probably a placeholder and subject to change. On the flip side, shares of dermatology drug developer Azitra Therapeutics ( AZTR) have sunk 20% since their debut on June 16. Oncology therapy developer Intensity Therapeutics ( INTS) was the big winner this month, with shares up 19% since last Friday's $20M IPO. June also saw a flurry of new filings and term updates, along with the debuts of two new stocks, Intensity Therapeutics and Azitra Therapeutics. Acelyrin was a distant second, raising $540M, followed by Structure Therapeutics with $161M. Kenvue has been far and beyond the biggest deal this year, with the consumer healthcare products company raising $3.8B, making it the largest IPO since 2021. How to Think About IPO Investing in 2023. Wealth manager and asset manager Prestige Wealth (PWN) has fallen 35 since going public at 5 a share in July. Also losing serious ground was Singapore-based biotech CytoMed ( GDTC), with shares sliding 21% from their IPO price. Here are the 6 monster IPOs to look forward to in 2023: Databricks. Those numbers still reflect a dramatically lower rate than in 2021. On the losing end, shares of psychotropic drug developer Lucy Scientific ( LSDI) have plunged 71% from their IPO price of $4 per share, while Cadrenal Therapeutics ( CVKD) shares have tumbled 70% and Mangoceuticals ( MGRX) 56%. Formal IPO filings are up in 2023, as well, with 139 IPOs filed through Oct. Diabetes drug developer Structure Therapeutics ( NASDAQ: GPCR ) is in second place with a gain of 177%, followed by Chinese wheelchair maker Jin Medical ( NASDAQ: ZJYL ) with 35%, J&J spinout Kenvue ( KVUE ) with 18% and dermatology drug developer Acelyrin ( SLRN ) with 13%. In terms of stock performance, immunotherapy developer Genelux ( NASDAQ: GNLX ) has been the hands-down winner, with shares up an impressive 417% from their IPO price as of Monday's close. Genelux, Structure Therapeutics and Jin Medical have been the best performing healthcare IPOs so far this year, with interest in new listings finally picking in June after a months-long deep freeze.
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