Summary
Biopharmaceutical companies dominate IPO activity.
78% drop in gross proceeds vs. 2H 2015.
As of 6/30/2016, nine of 17 IPO share prices were higher than IPO.
During the first six months of calendar year 2016, 17 venture capital-backed North American technology companies went public on US stock markets, raising a total of $1.26 billion in gross offering proceeds. This result represented a 78% sequential decrease in gross proceeds when compared to the second half of 2015.
The number of technology companies going public also dropped precipitously, from 29 in the second half of 2015 to 17 in the current period, a reduction of 41%.
IPOs by quarter totaled five in Q1 2016 and 12 in Q2. This was in line with my prediction in a previous article that the second quarter would show an uptick in IPO activity, mostly due to seasonal factors.
Life science companies continue to dominate the IPO market activity. Eight biotechnology and five pharmac
via seekingalpha.com