Biopharma financing during the first quarter of 2024 totaled $30.1bn from 298 deals. The follow-on public offering (FOPO) category made up the greatest proportion (36%) of the aggregate Q1 financing dollars (see Exhibit 1). During Q1, there were 81 FOPOs in all, of which 36 deals totaled $100m or more.
Vaxcyte (vaccines to protect from bacterial diseases) raised the most in the category with its $817m January FOPO. The...