Two biotechs launch public offerings; Vaxxinity shares safety data on its Parkinson’s vaccine

Two biotechs are turn­ing to pub­lic of­fer­ings to get more cash.

Cal­i­for­nia-based IGM Bio­sciences will be sell­ing some of its stock. The biotech an­nounced that it will sell $100 mil­lion of shares of its com­mon stock to some of its in­vestors and will grant un­der­writ­ers an op­tion to pur­chase an ad­di­tion­al 15% of shares of­fered.

This is not the on­ly time IGM has sought to gar­ner cash in 2023. In March, af­ter net­ting a deal with Sanofi worth up to $6.15 bil­lion, the biotech sought to raise $200 mil­lion in a pub­lic of­fer­ing.

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