NASDAQ IPOs near $20B raised in ‘20, as Kinnate prices deal

Two years after its launch, precision oncology company Kinnate has become at least the twenty-second preclinical biotech to go public on NASDAQ this year, building upon a record the 2020 IPO class broke months ago.

Its shares nearly doubled in their first day of trading, rising 95% to $39.03 to provide further evidence of investors’ ravenous appetite for fresh biotech paper this year. According to BioCentury’s BCIQ database, it is at least the seventy-eighth life sciences company to go public on NASDAQ this year, with the deal bringing the amount raised in these IPOs to just shy of $20 billion, also a record...