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Gossamer Bio Adds $276M in Second Biotech “Unicorn” IPO of 2019

Xconomy

Gossamer Bio, the San Diego-based biotech founded by former Receptos executives, has raised $276 million in its initial public offering, a total that puts it in a rare class among biotechs that have gone public in recent years. The amount raised surpassed expectations. Read more » Reprints | Share: UNDERWRITERS AND PARTNERS.

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Pharma CEOs to Senate: We Will Lower Drug Prices if Rebates Go Away

Xconomy

Seven top pharmaceutical executives gathered today in Washington, DC, for a Senate hearing on drug prices, bringing face-to-face two groups held in the lowest esteem possible by the American public. By the end of the highly anticipated grilling before the Senate’s finance committee, their strategy for taking on two major.

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Trump Team Outlines Healthcare Agenda—No Mention of Drug Prices

Xconomy

There is no mention of drug pricing or what the administration might do about frequent price increases, such as Mylan’s EpiPen practice, that critics say are unsubstantiated and unethical. People will also be able to purchase insurance across state lines, even though the states will be in charge of regulating their markets.

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Uber Completes $8.1B Public Market Debut in Spite of Tumultuous Past

Xconomy

billion in new capital late Thursday as it priced an initial public offering that set its market capitalization at $82.4 That price is near the lowest end of the range Uber set at $44 to $50 in the amended prospectus it filed on April 26. Ride-hailing giant Uber secured $8.1

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Bio Roundup: Cerevel’s Shell, Thrive’s Rise, Drug Price Drama & More

Xconomy

The biotech IPO market is buzzing but Cerevel Therapeutics is showing that there’s more than one path to the public markets. This week the neuroscience drug developer reached a deal to merge with publicly traded Arya Sciences Acquisition Corp II.

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After Trump Sounds Off, Senate Has Adult Conversation on Drug Prices

Xconomy

In advance of an anticipated Senate hearing on drug prices, President Donald Trump once again denounced drug companies as “getting away with murder.” ” The first time he did so, using the same phrase just before his inauguration , the markets shuddered. This time, the markets shrugged.

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With SEC Reopened, Gossamer Bio Turns Back from Alternative IPO Path

Xconomy

Gossamer Bio is dropping its plan to pursue a little-used path to the public markets and will instead return to a conventional IPO that is reviewed by securities regulators. The company initially filed for an IPO as activity at the SEC ground to a halt during the partial federal government shutdown. Gossamer first.