In the Media: Biopharma IPOs Show Early Signs of Rebound
There is cautious but growing momentum in the biopharma IPO market, as investor interest begins to return following a prolonged slowdown. While activity is increasing, companies and underwriters are moving deliberately, with a clear preference for later‑stage assets and stronger clinical data.
Our Accounting Advisory Partner Aric Johnstone spoke with Axios about the trends shaping today’s market and what’s top of mind across the industry:
“Back in 2021, you might have pre-clinical companies going out and demanding really high valuations, and that was a normal thing. We don’t see that happening anymore.”
— Aric Johnstone, Accounting Advisory Partner, WilliamsMarston
The article notes that today’s IPO environment reflects a more disciplined market, where valuation expectations, regulatory considerations, and long‑term fundamentals are shaping deal strategy. According to Johnstone, public investors are rewarding companies with more advanced development profiles, while broader macroeconomic and regulatory uncertainty continues to influence timing and structure.
Read the full article on Axios Pro Deals → Biopharma IPOs bounce back — cautiously