Could This Recent IPO Biotech Become the Next Moderna?
So far in 2020, no biotech has come close to pulling off a huge initial public offering (IPO) even close to what Moderna (NASDAQ: MRNA) did in late 2018. That's no knock against any of the biotechs listing their shares for public trading in the first half of this year, though, considering that Moderna's IPO was the biggest in biotech history.
But in the back of many investors' minds, every new biotech IPO that comes along raises the question: Could this one be the next Moderna? This question is really less about Moderna's IPO and more about what happened afterward, with the biotech stock tripling in value this year.
Pliant Therapeutics (NASDAQ: PLRX) held a successful IPO earlier this month, raising $144 million after originally planning to raise $86 million. While that upsized amount paled in comparison to Moderna's $604 million IPO, the question still lingers: Could Pliant become the next Moderna?
Source Fool.com
