Biotech’s run of successful initial public offerings is showing no signs of fatigue. Five companies are queued up to go public before the month is out, and the industry is on an IPO pace not seen since its most recent boom resulted in a painful correction.
Forty-three biotech companies have gone public in 2018, raising about $4.2 billion in the process. If all six of September’s planned IPOs succeed, biotech will be on pace for 60 Wall Street debuts on the year, which would be the most since 2015, when there were 68.
A market downturn that year sent the industry reeling and cooled investor interest in early-stage drug developers. Only 36 biotechs went public in 2016, followed by 40 in 2017.