A record number of biotechs are going public. Here's how they're performing.

Initial public offerings have fueled biotech's boom. Keep track of them as they happen with this database.
A stylized illustration of test tubes in front of a red line on a chart going up and to the right.
Adeline Kon/BioPharma Dive

Initial public offerings are the lifeblood of the biotech industry. Stock listings give young companies access to the vast amount of cash necessary to advance their drugs through clinical development, and their venture backers a crucial opportunity to earn a return and form new biotechs.

At the start of the last decade, the IPO markets weren't receptive to biotech companies. But by 2013, public investment was pouring into the industry, drawn by scientific advances and boosted by the newfound interest of a broader range of investors.

Ever since, biotechs and their backers have ridden a multi-year boom. Many young drugmakers, including those still years from human trials, have gone public at valuations never thought possible in the 2000s. Records have been made, and broken, several times over. Last year, a new high water mark was set during the deadliest pandemic in a century.

But a lucrative IPO doesn't mean the company will thrive. Which biotechs create value over time, and which fail? What types of companies are generating the best returns? Who are their top investors?

Biopharma Dive is tracking these details in the database below, which will be updated regularly. U.S. biotech IPOs of $50 million or higher from the past 2018 and after are included. We will add stock offerings as they happen in the months and years ahead.

Click on a company to pull up more information, and scroll to the bottom of the page to read how this information was collected and organized. If there's anything we've missed, or any additional information you'd like to see, please reach out and let us know.

Editor's note: If tables or values do not display, please try clearing your browser's cache and reloading the page.

Summary tables
IPO queue
IPO date
Total proceeds
IPO price
Current price
Change in price
Current maket cap
*FTSV is a ticker that is also used by a company that trades on the London Stock Exchange
Total proceeds 2021 2020 2019 2018
Development stage 2021 2020 2019 2018
Therapeutic focus 2021 2020 2019 2018
"Other" includes liver, eye, heart, gastrointestinal, metabolic, ear, skin and kidney.
Treatment type 2021 2020 2019 2018
"Biologic" includes biologics, antibodies and microbiome drugs. "Other" includes antibiotics, vaccines, radiopharmaceuticals and drug delivery.
IPO filing date


For this story, BioPharma Dive included biotechnology companies that raised at least $50 million in an initial public offering on a U.S. stock exchange. We defined biotechs as developers of human medicines. IPOs by special purpose acquisition companies, as well as by diagnostics and medical device makers, aren't included.

Company and investor information was collected from the Form S-1 companies file with the Securities and Exchange Commission before an IPO.

Shareholder names are listed by firm, rather than the specific fund that invested in a company. Individual trusts or holdings that own 50% or more of a company are also noted.

The equity raised before an offering typically consists of both stock and convertible securities, and was collected from the "liquidity and capital resources" and "financing activities" sections of an S-1.

Figures for current share price, percent change and market capitalization are pulled from Google Finance. For companies with a "-" under market capitalization, the figures returned by Google Finance do not reflect the correct value and are omitted.

Equity percentages and money raised are rounded to the nearest whole number.

Companies running multi-phase trials, such as a Phase 1/2 study, are listed by the earlier phase.

The category for "biologics" encompasses several types of protein drugs, while antibody-based drugs are listed as their own category.