Novartis revealed detailed terms and a 4 October spin-off date for Sandoz’s standalone debut. Also, MIRA launched a small IPO, but two firms plan to go public in SPAC mergers. Also, Mirati’s $345m offering leads follow-ons offerings and Sangon Biotech raised $290m in venture capital.

When a small biotech company acquires a failed drug from big pharma and plans to repeat the clinical studies expecting a positive result, is that not a definition of insanity?

Public Company Edition: An IPO and three big follow-on offerings hit the market but other public companies revealed plans to cut costs or reprioritize their R&D pipelines, signaling that uncertainty remains. 

Public Company Edition: The last biopharma IPO in the US was on 17 February and none have been scheduled, so far, for March. Also, another SPAC merger is called off, Travere sells $275m worth of notes and Xeris secures $150m in new debt, while Ovid, Passage Bio and others are cutting jobs.