LXEO News

Eleven US IPOs raised a combined $708 million in November, well below the month's historical 10-year average (16 IPOs, $4.2B). Deal flow was led by three sizable issuers, and remaining activity came from smaller companies, all of which raised $33 million or less. The month's IPOs averaged a weak -22% return from offer, and only two deals finished above issue, both of which raised...read more

Another large biotech IPO has joined the calendar, seeking to buck the trend of mostly negative returns from recent listings in the industry. CARGO Therapeutics (CRGX) launched on Monday, planning to raise $300 million in what would be the year's fourth-largest biotech IPO to date. Its proposed deal size would put it in the largest 5% of biotech IPOs in the past...read more

After ending October on shaky footing, the IPO market kicked off November with a fairly quiet week. Three new issuers began trading, two of which qualified for inclusion in our stats, while one deal was pushed back (SHIM). Four small Asia-based companies submitted...read more

Lexeo Therapeutics, a Phase 1 biotech developing gene therapies for cardio and neuro diseases, raised $100 million by offering 9.1 million shares at $11, below the range of $13 to $15. The company offered 91 thousand more shares than anticipated. Lexeo Therapeutics is a genetic medicine company focused on fundamentally changing how disease is treated by pioneering science. The...read more