The 2020 US biotech IPO class closed Wednesday with an 80% average return from the offering price, a historic run-up for the year's 23 development-stage drug developers. The group has averaged a 36% pop on day one, and then 35% from there. Biotechs make up 70% of the year's healthcare IPOs.
Every biotech IPO this year has either priced above the midpoint or upsized its share offering; Fusion Pharmaceuticals (FUSN) continued that trend on Wednesday by increasing the size of its proposed offering by 50%, followed by Akouos (AKUS) on Thursday, which upsized its offering and raised its proposed price.
Nine of the year's 23 biotechs...
The rest of the article is only available to members of IPO Pro.