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BIOTECH IPOS DOUBLE, REVENUES UP 9%: THE TOP 50

Biotech was mainly up in 2017. The Biotech IPO market was strong with AnaptsysBio, Argenx, Roku and SMART Global Holdings making up four of the top six best-performing. AnaptsysBio broke the records in the #1 position with a 571% gain, making it the best-performing IPO in the past 10 years. Biotech IPO s were the key component of the health care VC-backed IPO s with existing shareholders in on 25 of the 27 biotech deals.

The 2018 IPO market has started strong with Menlo Therapeutics ($403M), Eyenovia ($113M), ARMO Biosciences ($526M), resTORbio ($410M), SOLID Biosciences ($549M), Sol-Gel Advanced Topical Therapy ($224M), and more. Morphosys was the leading valuation winner with $3.1B on April 19.

Total 2017 revenues for the top 50 increased at a rate of 9%, for a total of $287B, more than double the increase of 4% in 2016. Revenue is still dominated by the top 10 companies, which remains at 75% of the total with the cut-off for the top 10 exceeding $10B.

Growth is still the mainstay for biotech, with 43 of the companies experiencing a revenue increase and only 7 a revenue decrease. This brings the percentage increase to 90% up from 70% in 2016.

Here’s a snapshot of where the Top 50 (based on revenue) were at year’s end. Companies are ranked by their 2017 revenue as furnished by their annual reports, earnings press releases and publicly available sources such as Edgar and Morningstar stock information websites. Figures of non-U.S. companies who did not report earnings in U.S. dollars were converted to U.S. dollars based XE currency data as of 12/31/17. Companies with fiscal year end dates in 2017 that are prior to 12/31/17 have their revenue listed as 2017 revenue. Additional company-specific notes for the compilation include: Actelion was acquired by J&J, Sci-Clone was acquired by GL Capital, MiMedx preliminary financials were used as their final numbers are under review.

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Written by hsandm

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