Biophama's flotation haul creeps higher

The biggest quarter for biopharma IPOs since early 2022 raises hopes that a recovery is in motion. But make no mistake, improving public market sentiment will be a slow process, and prone to stalling.

The stats remain stark. Only four small developers listed in the second quarter, the same as in the opening three months of the year. It is the amounts being raised that are ticking higher, though with a fair wind the second half might look even better.