Your (belated) big IPO week is here
Last week was expected to be a proving ground for biotech IPOs. It was not, and that brings us to this week. Five drug development startups are expected to make their Wall Street debuts in the coming days. Here, with some data from Renaissance Capital, is a quick look at what to expect
- Stoke Therapeutics, led by former Sarepta CEO Ed Kaye, is looking to raise $101 million at a $509 million valuation to support its work on therapies for rare disease.
- Akero Therapeutics, like seemingly half of the drug industry, is developing a treatment for the fatty liver disease NASH, and it's seeking $75 million at a $430 million valuation to do so.
- Among the preclinical entrants is Atreca, which is at work on a cancer immunotherapy it believes can work in harmony with checkpoint inhibitors like Keytruda and Opdivo. It’s raising $125 million at a $484 million valuation.
- Fans of etymology will discern that Dermavant Sciences hails from the Roivant family of biotech startups and focuses on dermatology. The company wants $100 million and would be valued at $323 million.
- Finally, Prevail Therapeutics is looking to raise $125 million to fund its work on gene therapies for neurological disorders including Parkinson’s disease and frontotemporal dementia. It would be valued at $672 million in the IPO.
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