TLDR:
- Biopharma IPO market heating up with companies setting terms and filing plans.
- Actuate Therapeutics and Alumis are two companies with high hopes for successful IPOs.
The biopharma IPO market is showing signs of growth, as companies like Actuate Therapeutics and Alumis prepare for upcoming initial public offerings. Actuate Therapeutics, a clinical-stage biopharmaceuticals company focusing on therapies for difficult-to-treat cancers, recently set terms for its IPO, planning to offer about 5.6 million shares between $8 and $10 per share. With venture capital firms Bios Partners and Kairos Ventures owning the majority of shares, Actuate aims to raise around $50 million. Alumis, another clinical-stage biopharma company working on oral therapies for immune-mediated diseases, also filed initial plans to go public, following a successful $259 million Series C financing round. Both companies are likely encouraged by the recent success of Rapport Therapeutics, which saw a 43 percent increase in share price since its IPO. Hedge funds like Cormorant Asset Management have shown interest in these biopharma companies, participating in financing rounds and possibly owning shares.
