The market for biotech IPOs is red hot — here are the top 10 of 2018

The stock market has become a debutante ball for the biggest, flashiest, and buzziest biotech companies – some with the hopes of being courted by big pharma.

There have been a total of 47 biotech IPOs in the first nine months of the year, which is already more than both the full years of 2016 and 2017, according to Renaissance Capital, a provider of institutional IPO research. In fact, biotechs accounted for 30% of the total IPOs so far this year, up from 23% a year prior.

In total, these biotechs have raised $US4.6 billion in capital, with an average first day return of 14%.

Summer in particular brought on a hotbed of activity, with 20 biotechs entering the market between June and August.

Matt Kennedy, a senior IPO market strategist at Renaissance, told Business Insider that the biotech IPO boom can be attributed to a few key reasons: the explosion in pre-IPO funding for biotech companies, the FDA prioritising fast-tracking drug development and approval, and advances in science that have improved the success of several programs and improved manufacturing abilities.

Here are the 10 biotech IPOs that made the biggest splash.

Rubius Therapeutics (RUBY)

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IPO Proceeds: $US241.1 million

Date of IPO: 7/18/18

Rubius Therapeutics uses reprogrammed red blood cells to treat conditions like cancer. It’s also developing enzyme replacement therapies for rare conditions where a person can’t make a particular enzyme in their body. The Cambridge-based company recently opened a manufacturing facility in Smithfield, Rhode Island.

Get the latest Rubius Therapeutics stock here.

Tricida (TCDA)

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IPO Proceeds: $US222.3 million

Date of IPO: 6/18/18

Tricida is developing therapeutics to treat renal, metabolic and cardivascular disease. Its lead product is an oral drug designed to treat metabolic acidosis in patients with chronic kidney disease.

Get the latest Tricida stock here.

MorphoSys AG (MOR)

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IPO Proceeds: $US207.8 million

Date of IPO: 4/19/18

MorphoSys is developing antibodies for cancer, Alzheimer’s Disease, infectious diseases, cardiovascular diseases, and inflammation. MorphoSys has collaborated with partners and developed more than 100 product candidates, of which 29 are currently in clinical development.

Get the latest MorphoSys AG stock here.

Kiniksa Pharmaceuticals (KNSA)

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IPO Proceeds: $US152.6 million

Date of IPO: 5/24/18

Kiniska Pharmaceuticals develops drugs targeting autoinflammatory and autoimmune disease. Its atopic dermatisis drug KPL-716 showed positive results in a phase I trial.

Get the latest Kiniksa Pharmaceuticals stock here.

Autolus Therapeutics (AUTL)

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IPO Proceeds: $US150 million

Date of IPO: 6/22/18

Autolus Therapeutics develops CAR-T cell immunotherapies for blood and solid tumour cancers. It expects to report proof-of-concept data from five programs in 2019.

Get the latest Autolus Therapeutics stock here.

Homology Medicines (FIXX)

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IPO Proceeds: $US144 million

Date of IPO: 3/18/18

Homology Medicines wants to treat genetic diseases using viruses instead of CRISPR. Its human hematopoietic stem cell-derived adeno-associated virus vectors (AAVHSCs) is designed to deliver genetic medicines through a gene therapy or nuclease-free gene editing modality across a broad range of genetic disorders.

Get the latest stock Homology Medicines here.

Urovant Sciences (UROV)

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IPO Proceeds: $US140 million

Date of IPO: 9/26/18

Urovant Sciences develops therapies for urologic conditions. Its lead product is vibegron, an oral drug for overactive bladder, overactive bladder in men with benign prostatic hyperplasia, and pain associated with irritable bowel syndrome. The drug is currently in a phase III trial, and results are expected in 2019. The company has support from its parent firm, Roivant.

Get the latest Urovant Sciences stock here.

Allakos (ALLK)

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IPO Proceeds: $US128.4 million

Date of IPO: 7/19/18

Allakos develops antibodies that act against immune cells involved in allergic, inflammatory, and gastrointestinal diseases. Its lead product AK002 is being tested in a phase II trial for the treatment of eosinophilic gastritis. It’s also being tested in the treatments of chronic urticaria, indolent systemic mastocytosis, and severe allergic conjunctivitis.

Get the latest Allakos stock here.

ARMO BioSciences (ARMO)

IPO Proceeds: $US128 million

Date of IPO: 1/26/18

ARMO Biosciences was acquired by Eli Lilly and Co. in May for $US1.6 billion just a few months after going public. ARMO has a pipeline filled with immuno-oncology products in various stages of development. Its lead product is Pegilodecakin, which is in phase III trial for treating pancreatic cancer.

Get the latest Eli Lilly stock price here.

Solid Biosciences (SLDB)

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IPO Proceeds: $US125 million

Date of IPO: 1/26/18

Solid Biosciences develops treatments for Duchenne muscular dystrophy. It’s focused on developing treatments to address four different aspects of the disease: Corrective Therapies, Disease-Modifying Therapies, Disease Understanding and Assistive Devices.

Get the latest Solid Biosciences stock here.

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