In 20, respectively 14 and 13 companies raised sums of $250m or more, whilst in 20, the numbers were 3 and 2.Ītreca Inc ( NASDAQ: BCEL) IPOd in June 2019, raising ~$114m at $17 per share, but its share price has sunk to just $2 at the time of writing. One of the reasons given for the biotech industry's surprising fall from grace in 2021 - its flagship XBI index is down by 45% over the past 12 months - is the record-breaking number of IPOs completed last year and the year before.Īccording to Biopharmadive there were 78 biotech IPOs in 2021, 71 in 2020, 39 in 2019, and 44 in 2018. Technotr/E+ via Getty Images Investment Thesis Looking for a portfolio of ideas like this one? Members of Haggerston BioHealth get exclusive access to our model portfolio.Atreca stock may have punished too severely in my view and I can see an upside opportunity here - although drug development is a hit and miss industry, I see the risk reward here as potentially attractive for those with an appetite.There are other preclinical assets and a development partnership with Xencor to co-develop two drugs, as well as a Malaria therapy being developed with the Bill and Melinda Gates Foundation.ATRC-101 targets various solid tumors and is in a Phase 1 trial - initial data has been underwhelming with some safety issues and only six partial responses in 20 solid.The biotech IPOd in June 2019, raising >$100m to fund development of drugs developed by studying the successful immune responses of patients.Atreca's share price performance has been abysmal over the past 12 months - the stock has lost >85% of its value.
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