Initial public offerings in the biotechnology sector have been occuring at a snail’s pace in 2023, prolonging a downturn that’s now lasted nearly two years.
Since January, only nine biotech companies have gone public, putting new stock offerings in the industry on the slowest trajectory in at least six years, according to BioPharma Dive data. Fourteen drugmakers had priced offerings by this time last year, but only 22 made it to Wall Street by the end of 2022.
