While Windward kept its IPO on track, Rezera had second thoughts. The biotech—formerly known as NodThera—outlined last week that it was aiming for a $181 million offering to take its NLRP3 inhibitor into phase 3 trials for a cardiovascular disease.
But a spokesperson confirmed to Fierce on Friday that the Boston biotech has decided to delay the proposed IPO “due to current market conditions.”
“Rezera will continue to evaluate all financing options, including a future public offering, as conditions warrant,” they added.
While biotech IPOs have remained resilient in recent months, there have been a few clouds to trouble market observers, including continuing high oil prices and a recent slump in AI stocks.
In a general note on the biotech sector this morning, investment bank Raymond James pointed out that out of the seven drug developers that IPOed in October, five ended the month with their stock below the offer price. This suggested that “greater access to the public markets has not translated into sustained aftermarket support,” the firm said.
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