Four recent biotech IPOs have soared more than 100% in the last 30 days, while four others have seen their stock prices halved.
The highest flyer is June 2019 IPO Karuna Therapeutics (KRTX), up 282% over the past 30 days. In mid-November, Karuna disclosed positive results from its Phase 2 trial for schizophrenia drug KarXT, causing the stock to initially soar 601% over two days before it completed a follow-on and gave back some of its gains. It is currently up 309% from IPO.
The biggest loser is resTORbio (TORC), which is developing immune system-boosting therapies for the elderly. resTORbio has underperformed since its January 2018 IPO, and it had traded at about half of its IPO price since the start of the year. The stock plummeted even further in mid-November after its lead candidate failed a late-stage trial. It is currently down 92% from IPO.
Interestingly enough, the lead pre-IPO investor on both Karuna and resTORbio is biotech incubator PureTech Health (LSE: PRTC); these are the only two PureTech-backed IPOs over the past 10 years.
Below we show the IPO market’s winners and losers for the last 30 days, only available on IPO Pro.
