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Initial Public Offerings (IPOs) Historical Tracker - Six IPOs so far in 2023!

Updated: Jun 29, 2023

Originally posted 5/3/2023; last updated 6/29/23


  • IPOs occur when private companies go public (offer shares to the public for the 1st time)

  • The last several years have seen a hot biotech IPO market, however 2023 is off to a slower start (6 IPOs as of 6/29/23)

  • See below for a breakdown of IPOs by quarter since 2021 as well as two companies that have begun discussions about IPOs in 2023

  • continuously adds newly IPOd companies and their clinical assets to our database

  • We will update this blog when more IPOs occur in 2023!

  • See our forum for a table of all IPOs in 2021 and 2022 as well as clinical trial stage


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Initial public offerings (IPOs) occur when private companies "go public", which means they offer stock shares to the public for the first time and at least some of the shares of stock in their company are publicly traded on the public stock markets. At, our focus is on companies that are publicly traded on the U.S. stock markets. There are many U.S. government rules and regulations that apply to a company that is publicly traded on a U.S. stock market. provides data on biopharma companies with market caps below $5 billion that are already publicly traded on the U.S. stock markets. To keep this as updated as possible, we continually add companies that recently became public, usually through an IPO, to our database of over 500 companies and their clinical stage or approved assets. While our database is mostly composed of companies with a market cap of at least $100M, some of these recently added companies have a lower market cap; however, we add some companies with market caps under $100M that have recently gone public if they have ongoing Phase 1, 2, or 3 clinical trials.

There has been a huge drop-off in IPOs since the middle of 2022, and there have only been 6 IPOs in the first 2 quarters of 2023. While there is no way that 2023 can compare to 2021 for IPOs, we might start to see an uptick for the rest of this year. See Table 1 for IPOs by quarter since 2021 and become a Pro subscriber for a list of all of these IPOs we have added to the BPIQ database, as well as if the company is currently in clinical trials. While we do not add assets into our database until they are in Phase 1 trials, we will still add these recently IPOd companies with preclinical trials so we can track their pipeline progress.

Table 1. IPOs per quarter since 2021

So far 6 companies have IPOd in 2023 and an additional company initiated filing in late June 2023.

See below for info on two of these companies and see our forum for all 2023 IPOs.


  • Closed in May 2023 under the symbol "SLRN"

  • Sold 34.5M stocks at $18 each

  • Currently three ongoing programs in 6 indications

  • Three Phase 3 trials for Izokibep

CytoMed Therapeutics (GDTC)

  • CytoMed IPO was closed on 4/18/2023 for $9.7M

  • Multiple preclinical programs going on in a broad range of cancers (solid tumors)

  • Pipeline includes cell therapies including CAR-yd T cell therapy, unmodified yd T cell therapy and iPSC-derived yd NKT cell therapy

See our BPIQ forum for a list of all smid-cap biopharma IPOs since 2021.


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