FWP News

Five initial public offerings collectively raised $1.3 billion during the past week, bringing the year's total to 228 IPOs and $73.5 billion raised, a 35% increase over this time last year by deal count and an 84% increase by proceeds. The S&P 500 had the largest 3-day slide since 2011 while the VIX volatility index leapt above 25 and the IPO market responded with postponed...read more

One step Forward, two steps back Forward Pharma (FWP), which is developing an alternative to and challenging the IP of Biogen Idec's multi-billion dollar Tecfidera treatment for MS, raised $221 and finished its first day down 17%. It was the year's 7th-worst first-day performance out of 226 IPOs. The biotech first appeared to defy poor market conditions by pricing at...read more

Forward Pharma, which is developing an alternative to and challenging IP of Biogen Idec's Tecfidera for MS, raised $221 million by offering 10.5 million shares at $21, the midpoint of the range of $20-$22. Forward Pharma plans to list on the NASDAQ under the symbol FWP. Leerink Partners, Jefferies & Co. and RBC Capital Markets acted as lead managers on the deal....read more

Seven initial public offerings are expected to raise $1.7 billion in the upcoming week. Four IPOs are biotechs, including Forward Pharma, which could be the year's largest (and 60th), and three others in early stages of development. Consolidated fiber optic network Zayo Group is expected raise $650 million to be the week's largest deal. We should also see the IPOs of midstream...read more