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6 min read Milestone Monday

Milestone Monday: Biopharma IPOs Are Playing To A Friendly House

ADARx, the year's 22nd US drug developer IPO, closed Oct. 1 above its offer price. The bigger story is life after opening night: one hair loss developer ended Oct. 1 near seven times its offer price, and listed companies are finding new money on terms that need a careful read.

A reddish-brown retriever wearing black-framed glasses rests its chin on an open magazine, looking up at the camera.
Some term sheets need those glasses. Photo by Jamie Street / Unsplash.