Biotech is awash in PIPEs.
The numbers behind these privately negotiated purchases of public-company stock are astounding. By my count, there have been 30 PIPE transactions involving public biotechs and institutional investors (mostly hedge funds) that have raised $4 billion in the first two months of the year.
advertisement
Just this week, five biotechs have brought in a combined $950 million via PIPEs, including Denali Therapeutics raising $500 million, the largest such financing this year. Crinetics Pharmaceuticals raised $350 million.
Get unlimited access to award-winning journalism and exclusive events.
Subscribe Log In
Previous article：
Mass General, Mayo Clinic look to monetize custom
Next article： ChatGPT in medicine: STAT answers readers' burning questions
Next article： ChatGPT in medicine: STAT answers readers' burning questions
