The stock market has become a debutante ball for the biggest, flashiest, and buzziest biotech companies — some with the hopes of being courted by big pharma.
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The market for biotech IPOs is red hot — here are the top 10 of 2018
There's been a total of 47 biotech IPOs in the first nine month of the year, which is already more than both the full years 2016 and 2017, according to Renaissance Capital, a provider of institutional IPO research.
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There have been a total of 47 biotech IPOs in the first nine months of the year, which is already more than both the full years of 2016 and 2017, according to Renaissance Capital, a provider of institutional IPO research. In fact, biotechs accounted for 30% of the total IPOs so far this year, up from 23% a year prior.
In total, these biotechs have raised $4.6 billion in capital, with an average first day return of 14%.
Summer in particular brought on a hotbed of activity, with 20 biotechs entering the market between June and August.
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Matt Kennedy, a senior IPO market strategist at Renaissance, told Business Insider that the biotech IPO boom can be attributed to a few key reasons: the explosion in pre-IPO funding for biotech companies, the FDA prioritizing fast-tracking drug development and approval, and advances in science that have improved the success of several programs and improved manufacturing abilities.
Here are the 10 biotech IPOs that made the biggest splash.
Rubius Therapeutics (RUBY)
Rubius Therapeutics (RUBY)
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IPO Proceeds: $241.1 million
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Date of IPO: 7/18/18
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Tricida (TCDA)
Tricida (TCDA)
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IPO Proceeds: $222.3 million
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Date of IPO: 6/18/18
Tricida is d
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MorphoSys AG (MOR)
MorphoSys AG (MOR)
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IPO Proceeds: $207.8 million
Date of IPO: 4/19/18
MorphoSys is d
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Kiniksa Pharmaceuticals (KNSA)
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Kiniksa Pharmaceuticals (KNSA)
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IPO Proceeds: $152.6 million
Date of IPO: 5/24/18
Kiniska Pharmaceuticals develops drugs t
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Autolus Therapeutics (AUTL)
Autolus Therapeutics (AUTL)
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IPO Proceeds: $150 million
Date of IPO: 6/22/18
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Homology Medicines (FIXX)
Homology Medicines (FIXX)
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IPO Proceeds: $144 million
Date of IPO: 3/18/18
Homology Medicines wants to treat genetic diseases using viruses instead of CRISPR.
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Urovant Sciences (UROV)
Urovant Sciences (UROV)
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IPO Proceeds: $140 million
Date of IPO: 9/26/18
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Allakos (ALLK)
Allakos (ALLK)
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IPO Proceeds: $128.4 million
Date of IPO: 7/19/18
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ARMO BioSciences (ARMO)
ARMO BioSciences (ARMO)
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IPO Proceeds: $128 million
Date of IPO: 1/26/18
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ARMO Biosciences was acquired by Eli Lilly and Co. in May for $1.6 billion just a few months after going public. ARMO has a pipeline filled with immuno-oncology products in various stages of development. Its
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Solid Biosciences (SLDB)
Solid Biosciences (SLDB)
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IPO Proceeds: $125 million
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Date of IPO: 1/26/18
Solid Biosciences develops treatments for
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