Stock Watch: Funding Biotech In A Hostile Environment
All-Stock Mergers On The Up As Financing Options Dwindle
When the traditional fundraising window closes and clinical, regulatory or commercial success eludes, other routes to raise cash emerge. But these have also become more scarce recently, leaving all-stock consolidations.
You may also be interested in...
Acquisitions usually depress the stock price of the buyer to reflect the dilution and propel the shares of the acquired to reflect the premium. But not always.
Mid-sized M&A, collaborations, creative financing, and biotech consolidation will feature in 2023. IPOs and follow-ons play bit-parts.
Aesther Healthcare Acquisition extended the deadline to merge with Ocean Biomedical, while Intrinsic Medicine no longer plans to go public by merging with a SPAC. In restructuring news, Otonomy begins liquidation, Celyad cuts last clinical program with cash running out and Clovis files for bankruptcy.