CureVac Launches IPO, Adds To Big 2020 Cash Haul
CureVac raised hundreds of millions of dollars this year before its $213m initial public offering as its mRNA vaccine technology moved into the COVID-19 spotlight. Its stock price tripled on its debut.
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Public Company Edition: Among other recent large financings, BridgeBio Pharma launched a $650m note sale, CureVac closed a $517.5m follow-on offering and Revolution Medicines raised $260.9m.
Pfizer and Moderna have set a high bar, but CureVac's mRNA contender is buoyed by a big EU procurement deal and a favorable stability profile as it heads into pivotal trials.
The average return for companies that went public in the US through the end of September was 49.4% as of 5 October. The fourth quarter started with three additional initial public offerings on 1 October.