Thornburg Investment Management Portfolio Manager Sean Sun in Reuters

Analysis: Biotech IPOs to bloom with spotlight on startups with human trial data

Feb 13 (Reuters) – Initial public offerings by small private biotech companies are poised to stage a comeback later in 2023 as the pace of interest rate hikes slows, but tougher economic conditions will make investors more inclined to pick firms which have drugs in human trials.

Globally, IPOs across all sectors nosedived last year after a blockbuster 2021, as aggressive interest rate hikes by central banks to curb inflation put an end to the era of cheap money.

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