Moderna’s Long-waited IPO Filed, Raising $500+ Million

Moderna filed S-1 with SEC last Friday and will become the largest biotech IPO in history.

The record amount of raise ($500 million in current version of documents; I will expect more) just surpassed $421 million (HK$3.3bn) IPO by Innovent. In the past years, the typical size of the largest biotech IPO is around $200-300 million.

Since October, we have seen a series of large biotech IPOs that might also contribute to the money pulled from other biotech companies.

Here is the list of ever-increase IPOs in size since October:

– Guardant Health $238 million

– Allogene $324 million

– Innovent (in HK) $421 million

– Moderna (proposed) $500 million