Credit: Shutterstock photoModerna ( MRNA ) is scheduled to raise $500 million tonight at an $8.0 billion valuation. On both measures, that would make it the largest development-stage drug developer ever to go public.
Below we present the five largest biotech IPOs by deal size.
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After Moderna, the past four largest biotech IPOs generated a lot of hype at the time of their offerings and had a strong gain on day one. Three traded up from there, while Axovant's -88% return highlights the risk of awarding $1+ billion valuation to biotechs.
*Return from IPO to Jan 2018 acquisition
The article Moderna aims to top list of 5 largest biotech IPOs ever originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
