A biotech and a micro-cap ridesharing rental provider entered the public market this past week, and seven companies submitted initial filings.
After delaying its offering in the previous week, 89bio (ETNB) priced its upsized $85 million IPO at the midpoint and popped 30% on its first day, the second highest of the 4Q19 so far, before finishing the week up 69%. The company's target indication NASH represents a multi-billion-dollar market with no FDA-approved therapy, and 89bio's FGF21 analog showed positive Phase 1 data in healthy volunteers. That said, it has yet to demonstrate proof-of-concept in