Three’s a crowd? MBX follows Bicara, Zenas into IPO queue

An IPO filing late Friday made MBX Biosciences the third biotech to file for a NASDAQ listing within a two-day period, closely following prospectuses from Bicara and Zenas late Thursday.

The three companies’ entry into the queue comes late in a slow summer season for new listings by biotechs. Investors have told BioCentury in recent months that the risk appetite for IPOs is relatively meager, and that activity may not pick up until 2025, although a potential rate cut in September could stimulate activity. Aftermarket activity for newly listed biotechs has been fairly weak as well...