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Hemab Therapeutics and Seaport Therapeutics are the newest biotech companies to join the public markets, each with an upsized IPO. According to IPO research firm Renaissance Capital, April was the biggest month for biotech IPO proceeds in more than five years.
The biotech IPO window looks like it’s reopening. This past week closed with three biotech companies joining the public markets, a flurry of activity that helped make April the biggest month for biotech IPOs since March 2021, according to Renaissance Capital.
Hemab Therapeutics and Seaport Therapeutics began trading Friday. Those companies followed respiratory disorder biotech Avalyn Pharma, which began trading Thursday after its own upsized IPO. Earlier in the month, obesity drug biotech Kailera Therapeutics raised $625 million in its IPO. The four companies raised $1.5 billion combined. There was strong investor interest in these clinical-stage biotechs. Each one was able to upsize its deal and each saw its stock price surge during its first day of trading.