With record listing prices, what the mid-year IPO market says about the current state of biopharma

17 July 2026

IPOs are back. The first six months of 2026 have seen a some of the biggest stock market debuts in biopharma history. With IPOs regularly topping the $200m mark, the amount of money raised in the first half of the year has eclipsed what the entire sector managed in the whole of 2025.

So far, 13 biopharma companies have listed in the first six months of the year in the US raising a combined $4.73bn, compared with nine companies raising $1.6bn in 2025, according to figures from JP Morgan.

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