Memoire Ipo Nasdaq Biotech

Memoire ipo nasdaq biotech

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When we start­ed out this year, sev­er­al an­a­lysts re­marked that 2017 would ba­si­cal­ly be OK for biotech IPOs.

Noth­ing like the go-go days of 2014, of course, but equal to or slight­ly bet­ter than the so-so 28 that scored in 2016.

At this stage of the game, those ear­ly fore­casts ap­pear to be right on the mon­ey — with a shot at be­ing a bit con­ser­v­a­tive.

Memoire ipo nasdaq biotech

And some stand­out suc­cess­es on the IPO front are like­ly to con­tin­ue to dri­ve new of­fer­ings that are cre­at­ing bil­lions of dol­lars of share­hold­er val­ue in these fledg­ling drug com­pa­nies.

In­de­pen­dent biotech in­vestor Brad Lon­car as­sem­bled a look at the 22 biotech IPOs he’s tracked year-to-date, close to 8 months in, as a surge over the past few months has point­ed the in­dus­try to a like­ly fin­ish ahead of 2016.

I’d like to high­light here, though, that IPO fore­casts can be dev­il­ish­ly tricky, with the biotech IPO win­dow like­ly to fly open or shut fast based on fac­tors far be­yond any­thing in the in­dus­try’s con­trol.

But it’s def­i­nite­ly cracked open for some am­bi­tious play­ers, pro­vid­ed they un­der­stand what’s need­ed to make an IPO fly.

I asked Lon­car what he thought of the biotech IPO mar­ket so far in 2017.

Memoire ipo nasdaq biotech

He sized it up this way:

In gen­er­al, I think this has been a more dif­fi­cult year for IPOs than in pre­vi­ous years.  It seems that the deals that are get­ting done have re­quired a sig­nif­i­cant amount of in­sid­er par­tic­i­pa­tion to suc­ceed, or they are Eu­ro­pean com­pa­nies and/or spin-offs that the mar­ket is al­ready fa­mil­iar with.

 You aren’t see­ing in­vestors throw­ing mon­ey at new com­pa­nies blind­ly like you do in peak years, and I guess that is a good thing of course.

A to­tal of 16 of 22 biotech IPOs are now priced at a high­er mark than their de­but, a sol­id in­di­ca­tor of suc­cess.

Among the stand­outs:

Be­yond­Spring Phar­ma­ceu­ti­cal$BYSI : $20; $431 mil­lion val­u­a­tion: To­day – $38.41, up 92%

Akcea Ther­a­peu­tics$AK­CA: $8 $520 mil­lion val­u­a­tion: $15.08, up 88%

Bio­haven$BHVN: $17; $646 mil­lion val­u­a­tion: To­day — $30.33, up 78%

Do­va Phar­ma­ceu­ti­cals$DO­VA: $17, $447 mil­lion val­u­a­tion: To­day $26.33, up 55%

Athenex$AT­NX: $11; 655 mil­lion val­u­a­tion: To­day $16, up 45%

Among the worst:

Ovid$OVID: $15; $399 mil­lion val­u­a­tion: To­day: $6.64, down 56%

Ob­sE­va $OB­SV: $15; $444 mil­lion: To­day $7.74, down 48%

Zymeworks$ZYME: $13, $354 mil­lion: To­day $7.10, down 45%

Memoire ipo nasdaq biotech