The Neuer Markt's fall from grace is more than a reflection of the global market slump. Having soared faster and higher than most other markets, Germany's growth exchange is now suffering the worst. And its recovery is likely to take longer.

Public Company Edition: Cancer-focused Adlai Nortye launched a concurrent initial public offering and private placement, while four other drug developers announced or completed SPAC mergers. Also, Sobi grossed $540m in a rights issue and Immunovant followed early data with a $450m FOPO.

The company anticipates potential sales in excess of $1bn for the late-onset Pompe disease drug by the end of the decade.