In 2014, biopharmaceutical IPO set a record

Source: the financing of US $6.3 billion from 2015-1-12 of new Kangjie in 2014 was also surprising However, despite major setbacks, the investment market seems to be gradually controlled by financing companies, and biopharmaceutical companies will almost certainly continue to go public, which will make 2015 another strong year for IPO As biopharmaceutical companies received an incredible $1.81 billion in financing in the fourth quarter of 2014, any fear of the year-end cold of the IPO that exceeded expectations has dissipated This unexpected strong consolidation throughout the year has made 2014 the best year for companies to list since the 2000 bubble of genomics In 2000, only US biopharmaceutical companies had raised $5 billion 500 million The $1.805 billion in the fourth quarter of 2014 dwarfs the $1.44 billion in the third quarter, making the fourth quarter the best performing quarter since the start of the biotechnology bull market, second only to $2.141 billion in the first quarter But what is impressive overall is that this achievement was achieved only through the listing of 17 companies, which is slightly lower than the 24 companies in the third quarter This suggests that, although the number of candidates for investors has declined, investors still have a good appetite for biotechnology, especially for companies like Juno therapy Of course, the $6.3 billion financing in 2014 was also surprising However, despite major setbacks, the investment market seems to be gradually controlled by financing companies, and biopharmaceutical companies will almost certainly continue to go public, which will make 2015 another strong year for IPO However, this paper is not only to show the success of biopharmaceutical companies to obtain a large number of funds More importantly, it analyzes the trend of IPO improvement in 2014 from the perspective of epvantage In the fourth quarter of 2014, the average discount between the listing price and IPO price of companies that successfully listed on Nasdaq was 12%, lower than 15% in 2013, and significantly improved compared with the 24% discount forced to adopt in 2012 The trend shows that while there is still a disconnect in the prices biopharmaceutical companies want to reach, investors and bankers are increasingly realistic in their expectations of the company's value However, the above average is not the whole story; for example, the discount between the listing price and IPO price of the Israeli biotechnology company vassilar biogenics for listing is as high as 57%, but this discount has been offset by the IPO of Juno treatment, the most successful one this year Juno treatment successfully made its IPO price exceed 45% of the IPO price, and raised a financing demand of $304 million, which was only surpassed by the record of $332 million raised by Circassia earlier this year Bellicum pharmaceutical also exceeded expectations, mainly due to the fact that the company, like Juno therapy, is currently conducting research in the field of hyperthermia chimeric antigen receptor recombinant T cell (car-t) therapy On January 7, 2015, Amgen advanced $60 million to kite pharmaceutical, showing the interest of investors and large pharmaceutical companies in this field What's interesting about Europe's strength is that the fourth quarter of 2014 finally saw an increase in IPO activity outside the United States, with four of the 17 Listed Companies originated in Europe Traditionally, with the US IPO window open, the final decision to list in Europe has increased, but the trend is gradually slowing down It will be anyone's guess whether this emerging move will continue, especially given the lack of professional investors in the European region and the fact that the return on investment in biotechnology is less than in the star industry in history But there should be some hope for companies like molecular partners with strong R & D pipelines The Swiss group has submitted a $117 million new financing package in the Swiss securities market European biotechnology companies seeking to go public, but worried about the risk appetite of the stock market, will continue to follow the trend of seeking to go public in the United States Forward, a Danish biopharmaceutical company, made an impressive net profit of $235 million using this strategy Keep positive throughout the fourth quarter, and even the whole year, not only did the company get a lot of money with a lower average price discount, but also their shares have been rising since they went public In addition to the four companies listed in the fourth quarter whose stock prices traded at more than their listed prices, most of the other companies' shares have at least doubled their IPO prices Calithera's share price rose 102% due to the pre clinical research results of cb-839, the company's phase I clinical research breast cancer project, and Juno treatment has again benefited from the car-t field, which seems to never meet the appetite of investors Perhaps, not only the average share price of all listed companies in the fourth quarter of 2014 has increased by 37% compared with that since the listing, but also no listed company's share price has fallen after the listing in the whole year, which can best illustrate the strength of the current investment market in the field of Biotechnology Will this rebound continue in 2015? Logically, there should be some form of correction, but investment in biotechnology has proved time and again that logic is not a limiting factor, despite recent fluctuations