DRMT News

Dermavant Sciences, a Phase 3 biotech developing in-licensed therapies for dermatological diseases, officially withdrew its plans for an initial public offering on Friday. It had originally filed in June 2019 to raise $100 million by offering 7.7 million shares at a price range of $12 to $14, but it postponed later that month on the day it was set to price. The Phoenix,...read more

Slack's (WORK) widely-covered direct listing was hailed as a success. Slack opened on Thursday at $38.50, well above the NYSE's "reference price" of $26, and more than triple its last round less than a year ago. And yet, new public investors ended the week with losses. The stock closed Friday at $37.22, down 3.3% from the opening trade. With millions of users...read more

Dermavant Sciences, a Phase 3 biotech developing in-licensed therapies for dermatological diseases, postponed its IPO on Thursday. It had filed to raise $100 million by offering 7.7 million shares at a price range of $12 to $14. The Phoenix, AZ-based company was founded in 2015 and had planned to list on the Nasdaq under the symbol DRMT. Jefferies, SVB Leerink and Guggenheim...read more

A wave of biotechs are preparing to go public in June, with five on the IPO calendar for this week and four more scheduled for the week of June 24. Two others could soon launch June/July IPOs as well. Recent biotech IPOs have mostly underperformed, though 2 are up +100% ...read more