Windward Bio reaches $1.07 billion valuation in Nasdaq debut
Biotech listings continue to draw investor interest even as the wider IPO market faces pressure from an AI-driven tech selloff and higher-for-longer interest rates. Windward Bio joins a run of healthcare offerings in New York after its shares opened above the IPO price, giving the Swiss company a market value of about $1.07 billion.
Highlights
- Windward Bio opened at $18.35 on Nasdaq after pricing its IPO at $17, raising $175 million and reaching a $1.07 billion valuation.
- Sanofi agreed to invest $50 million in Windward Bio through shares and pre-funded warrants via a private placement.
- Despite a weak overall IPO market, over six biotech companies, including Windward Bio, debuted in New York since September, showcasing sector resilience.
IPO pricing and debut trading
As reported by Reuters, shares in Basel, Switzerland-based Windward Bio opened at $18.35 on Friday after the company priced its initial public offering at $17 each, within its marketed range of $16 to $18. The listing raised $175 million.Windward develops antibody medicines for patients with serious respiratory and dermatologic diseases, including asthma, chronic obstructive pulmonary disease and atopic dermatitis. French drugmaker Sanofi has also agreed to buy $50 million of shares and pre-funded warrants in a private placement.
Biotech sector stands out in weak IPO market
The debut arrives as the broader IPO market struggles, but biotech offerings continue to show resilience. More than half a dozen biotech companies have gone public in New York since September, setting the sector apart from weaker sentiment elsewhere in equities.Jeff Zell, senior research analyst at IPO Boutique, told Reuters that biotech is sometimes not materially affected by broader IPO slowdowns because order books often contain large institutional demand and transactions tend to be smaller and easier to complete. Windward is led by Chief Executive Luca Santarelli, who previously ran VectivBio and Therachon, two biotech companies that later sold for $1.2 billion and $810 million, respectively.
We have also looked at PDS Biotechnology results, which outlined the company’s third-quarter financial and operational performance.
Latest Biotechnology News
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
