MyoKardia's $75M IPO pitch could be the next big test of biotech's meddle

MyoKardia, expected to go public this week, is poised to become the next barometer of biotech's status on Wall Street, angling for a $75 million debut as investors take a tepid approach to drug developers. The company, founded by Third Rock Ventures, is at work on treatments for rare cardiac disorders, planning to spend its IPO haul on accelerating its top prospects into clinical development. MyoKardia's planned offering comes amid weeks of sluggish returns for biotechs going public, as the once-bullish market has gradually soured, forcing most recent debutantes to accept cheaper shares and smaller valuations.

Suggested Articles

German researchers uncovered 28 antibodies that neutralize COVID-19 and are working with Boehringer Ingelheim to advance them into clinical testing.

Oragenics is ending a phase 2 study of its oral mucositis drug, yanking its IND application and switching its focus to a COVID-19 vaccine.

The vehicle, which Blackstone claims is the largest life sciences private fund, has committed close to $1 billion to companies including Alnylam.