There’s New Hope for the IPO Market

At least five hedge funds have benefited from two biopharma stocks that went public in February and are currently doing well.

Nicky Loh/Bloomberg

Nicky Loh/Bloomberg

A pair of IPOs this month is generating some cautious optimism that the new-issues market may have finally emerged from its bear market slumber.

Both Mineralys Therapeutics and Structure Therapeutics are currently trading above their offering prices, with the latter up 62 percent.

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