Finance Watch: CARGO Gets A Lukewarm Reception After Stock Market Debut
Offering Is 21st Biopharma IPO In The US In 2023
Executive Summary
Public Company Edition: CARGO Therapeutics grossed $281.3m, giving it the fifth-largest biopharma IPO this year. Also, Alkermes completed its cancer business spinout as Mural Oncology, which launched with $275m, and Xencor sold Ultomiris and Monjuvi royalties for $215m.
You may also be interested in...
Pipeline Watch: Six Approvals And 19 Phase III Updates
Pipeline Watch is a weekly snapshot of selected late-stage clinical trial events and approvals announced by pharmaceutical and biotech companies at medical and industry conferences, in financial and company presentations, and in company releases and statements.
Finance Watch: Lexeo Launches 20th US Biopharma IPO In 2023
Public Company Edition: Lexeo raised $100m to advance its genetic medicines. Also, Blue Owl Capital acquired funds managed by Cowen Healthcare Investments, gaining about $1bn in life science assets, BMS priced $4.5bn in notes to fund its Mirati purchase and Viridian raised $185m in a private placement.
Cellectis Soars On Transformative Tie-Up With AstraZeneca
The French biotech’s money concerns are over after a lucrative gene editing deal with AstraZeneca brings in an initial cash commitment of $245m and the possibility of many millions more.