ARTICLE | Finance
Upsized deals by Sagimet, Apogee latest sign of thawing IPO market
Apogee’s $300M raise NASDAQ’s second largest IPO of the year, first significant preclinical debut on exchange since last fall
July 15, 2023 12:04 AM UTC
Upsized deals by Sagimet and preclinical biologics play Apogee kick off the second half by marking the first time in a year-and-a-half that two biotechs priced upsized IPOs on NASDAQ in a single day, signaling a more receptive market for new biotech listings.
Thursday night’s deals by Apogee Therapeutics Inc. (NASDAQ:APGE) — the second-largest IPO on NASDAQ this year — and Sagimet Biosciences Inc. (NASDAQ:SGMT) come during a dry spell that’s spanned months as the biotech bear market has grinded on. ...