A slow season for biotech IPOs may be coming to an end. In September, four biopharmas have completed NASDAQ listings in which each raised more than $100 million, including Bicara with $315 million IPO. Most recently, Upstream Bio filed for IPO seeking to raise $100 million.
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Slow IPO season may be coming to an end, as four biotechs completed IPO of $100+ million
Monthly market moves of selected competitors compared to NASDAQ Biotechnology Index (NBI)
|
Area |
Company |
Ticker |
Price range $ |
Δ Price |
MktCap $m |
Δ MktCap $m |
|
|
ADC |
ADC Therapeutics |
ADCT |
2.70 – 3.33 |
9 |
% |
304 |
24 |
|
Elevation Oncology |
ELEV |
0.58 – 0.73 |
-23 |
% |
35 |
-11 |
|
|
Mersana Therapeutics |
MRSN |
1.35 – 2.19 |
20 |
% |
216 |
35 |
|
|
Sutro Biopharma |
STRO |
3.32 – 4.61 |
-24 |
% |
284 |
-91 |
|
|
IL15 / 2 |
ImmunityBio |
IBRX |
3.32 – 3.93 |
-6 |
% |
2 591 |
-160 |
|
Mural Oncology |
MURA |
3.03 – 3.46 |
-6 |
% |
53 |
-3 |
|
|
Nektar Therapeutics |
NKTR |
1.11 – 1.31 |
2 |
% |
239 |
4 |
|
|
Werewolf Therapeutics |
HOWL |
2.00 – 2.40 |
-2 |
% |
93 |
-2 |
|
|
CAR-T |
Allogene Therapeutics |
ALLO |
2.41 – 2.96 |
6 |
% |
586 |
36 |
|
Arcellx |
ACLX |
65.46 – 86.61 |
21 |
% |
4 489 |
794 |
|
|
Autolus Therapeutics |
AUTL |
3.45 – 4.44 |
-8 |
% |
966 |
-80 |
|
|
Mustang Bio |
MBIO |
0.21 – 0.29 |
-16 |
% |
9 |
-2 |
|
|
Other |
Arcus Biosciences |
RCUS |
15.27 – 17.95 |
-11 |
% |
1 398 |
-167 |
|
Immutep |
IMMP |
2.21 – 2.64 |
-16 |
% |
197 |
-38 | |
|
MacroGenics |
MGNX |
3.00 – 3.70 |
-6 |
% |
206 |
-14 | |
ADC Therapeutics
ADCT’s CEO Ameet Mallik participated and presented in two investor conferences in September: HC Wainwright Annual Global Investment Conference and Cantor Global Healthcare Conference.
Elevation Oncology
Elevation announced that FDA has granted Fast Track designation to EO-3021, a differentiated ADC, for the treatment of patients with advanced or metastatic gastric and gastroesophageal junction cancer expressing CLDN18.2 that has progressed on or after prior therapy.
Mersana Therapeutics
Short interest of Mersana increased by 21 % to 10,306,527 reported on September 15, compared to 8,487,549 on August 15.
Sutro Biopharma
Sutro announced updated data from the ongoing Phase 1b study of luveltamab tazevibulin (luvelta) in combination with bevacizumab for patients with epithelial ovarian cancer (EOC) in a poster presentation at the 2024 ESMO Congress. The 4.3 mg/kg of luvelta in combination with standard dose of bevacizumab (15 mg/kg) every 3 weeks resulted in a 56% ORR in patients with late-stage ovarian cancer and was selected to be the recommended phase 2 dose.
ImmunityBio
ImmunityBio announced positive results from its QUILT 3.055 trial demonstrating long-term extended survival of 14 months to as much as five years for patients with advanced NSCLC being treated with checkpoint inhibitors. An oral presentation of the data was presented at the World Congress on Lung Cancer in San Diego. The phase 2b study of Anktiva in combination with Keytruda or Opdivo in multiple tumor types including NSCLC who failed CPI showed long-term overall survival of 57 % and 34 % at 12 and 18 months respectively.
Mural Oncology
Mural hosted a virtual Investor Day and provided new clinical insight into the trial design, statistical assumptions, and progress of the company’s late-stage trials of nemvaleukin. Key data readouts for the company’s late-stage, potentially registrational trials of nemvaleukin are expected in late Q1/early Q2 2025 for platinum-resistant ovarian cancer and Q2 2025 for mucosal melanoma.
Nektar Therapeutic
Nektar announced several presentations for rezpegaldesleukin at the 2024 European Academy of Dermatology and Venereology Congress. In addition to two trial-in-progress posters, new proteomic analyses were presented that showcases a unique serum proteomic profile in patients with atopic dermatitis.
Werewolf Therapeutics
Werewolf’s CEO Daniel J. Hicklin and CMO Randi Isaacs participated in a fireside chat at the HC Wainwright Global Healthcare Conference.
Allogene Therapeutics
Allogene presented preclinical data for its next-generation investigational AlloCAR T candidate for autoimmune indications, ALLO-329, at the American College of Rheumatology's annual meeting. ALLO-329 is a CD19/CD70 dual AlloCAR T product and is the first CAR T designed to both reduce or eliminate the need for lymphodepletion while also targeting CD19+ B-cells and CD70+ activated T-cells, both of which are likely to play a role in autoimmune diseases.
Autolus Therapeutics
Autolus announced the appointment of Matthias Will MD as Chief Development Officer, effective September 30, 2024.
Arcellx
Short interest of Arcellx decreased by 6 % to 4,752,245 reported on August 15, compared to 5,026,797 on July 15.
Mustang Bio
Short interest of Mustang decreased by 59 % to 656,396 reported on August 15, compared to 1,616,915 on July 15.
Arcus Biosciences
Arcus announced a clinical trial collaboration agreement with AstraZeneca to evaluate casdatifan, Arcus’s investigational HIF-2a inhibitor, in combination with volrustomig, AZ’s investigational PD-1/CTLA-4 bispecific antibody, in patients with RCC.
Immutep
Immutep announced positive efficacy and safety results from the TACTI-003 Phase 2b evaluating efti in combination with pembrolizumab as first-line treatment of recurrent or metastatic head and neck squamous cell carcinoma patients, which led to a high durability of response of 17.5 months in patients with any PD-L1 expression.
MacroGenics
MacroGenics presented updated efficacy and safety results from the TAMARACK Phase 2 study of vobramitamab duocarmazine (vobra duo), an ADC targeting B7-H3, for patients with metastatic CRPC. Encouraging antitumor activity demonstrated with vobra duo as measured by 6-month landmark rPFS rate and ORR. Company expects to have mature median rPFS in early 2025.
