DATA GRAPHICS | Data Byte
October marks year’s third-biggest month for biotech follow-ons
The group’s median market cap performance was positive
November 7, 2023 1:00 AM UTC
Biotechs raised $2.1 billion in 13 follow-on offerings in October, the year’s third-largest monthly total. The financings bring the amount raised in the first 10 months of 2023 to $17.1 billion, up from $14 billion in the same period last year.
Three companies raised over half of the month’s total. Cerevel Therapeutics Holdings Inc. (NASDAQ:CERE) brought in the largest offering at $517 million, followed by Ultragenyx Pharmaceutical Inc. (NASDAQ:RARE) at $345 million and Nuvalent Inc. (NASDAQ:NUVL) at $300 million. ...