Latest listing shows it's all systems go for biotech IPOs
Earlier this week, ArriVent Biopharma filed for an IPO, following several other young biotechs giving notice they planned to take the plunge in 2024.
The first of these to test the waters, CG Oncology (Nasdaq: CGON), has now completed its listing on the Nasdaq, raising a whopping $380 million in the process and reassuring its peers that the time is right for going public.
The turnaround follows a protracted chill in the market, with fewer than 20 companies following this route last year, a dramatic drop from the peak of activity in 2021.
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