Initial public offerings are the lifeblood of the biotech industry. Stock listings give young companies access to the vast amount of cash necessary to advance their drugs through clinical development, and their venture backers a crucial opportunity to earn a return and form new biotechs.
At the start of the last decade, the IPO markets weren’t receptive to biotech companies. But by 2013, public investment was pouring into the industry, drawn by scientific advances and boosted by the newfound interest of a broader range of investors.
Ever since, biotechs and their backers have ridden a multi-year boom. Many young drugmakers, including those still years from human trials, have gone public at valuations never thought possible in the 2000s. Records have been made, and broken, several times over. Last year, a new high water mark was set during the deadliest pandemic in a century.
But a lucrative IPO doesn’t mean the company will thrive. Which biotechs create value over time, and which fail? What types of companies are generating the best returns? Who are their top investors?
Biopharma Dive is tracking these details in the database below, which will be updated regularly. READ MORE
By Ben Fidler
Decades ago, the founder-led biotech was rare and considered the tougher path to follow. Now there is a trend of founder-led biotechs that have risen in prominence in recent years, going from startup to well known with lightning speed. Scientists-turned C-suite occupants know their technology inside out. They’ve got credibility both at the bench working with their research teams and in the boardrooms selling their future products.
Pfizer’s revenue could reach $101.3 billion in 2022, with major contributions coming from the company’s BioNTech-partnered COVID vaccine and an antiviral therapeutic that has shown stellar clinical data, SVB Leerink analyst Geoffrey Porges projected in a Monday note to clients.
In a survey commissioned by GlaxoSmithKline’s consumer health division of 2,000 working people in the U.S., almost 70% admitted to clocking in while sick, often because they couldn’t afford to lose a day’s pay. Black and Latina women were 10% more likely than white women to shun taking sick time for fear of fallout from their boss, according to the company’s 2021 Temperature Check Report.