THOR News

Moderna (MRNA) was not the cure for the biotech industry, which has broadly sold off this quarter. Moderna upsized its offering to raise $604 million at a record-shattering $8.1 billion valuation. It is the largest biotech IPO by both deal size and proceeds raised. It also had one of the year's worst first-day returns, tumbling -19%, from $23.00 to $18.60....read more

Synthorx, a preclinical biotech developing immunotherapies for solid tumors, raised $131 million by offering 11.9 million shares at $11, the midpoint of the $10 to $12 range. The company offered additional shares to raise 31% more than anticipated. Insiders had indicated on buying up to $75 million of the IPO (57%). Synthorx plans to list on the Nasdaq under the symbol THOR....read more

Four companies plan to raise $689 million during the week ahead. Biotech giant Moderna (MRNA) continues this year's boom of large biotech IPOs. Developing a platform of messenger RNA, Moderna is raising $500 million at an $8.0 billion valuation. That would make it the largest biotech ever to go public, and the third most highly-valued VC exit in the 2018 IPO...read more

No companies went public this past week, during the post-Thanksgiving lull. Three healthcare deals joined the IPO calendar for next week. Messenger RNA developer Moderna (MRNA) is the week's largest offering, aiming to raise $500 million in the biggest biotech IPO...read more