BioCentury This Week Ep. 317 - Biotech IPOs, FDA-Stealth & Patent Threat
Aug 26, 2025
Steve Usdin, the Washington editor, dives into the rare IPO filing by LB Pharma on NASDAQ, amidst a quiet biotech market. He discusses the surge of interest in Hong Kong's biotech scene, contrasting it with challenges faced in the U.S. The podcast explores the FDA's surprising reversal on Stealth BioTherapeutics' Barth syndrome treatment, emphasizing the need for innovation. Usdin also highlights the growing threats to U.S. biopharma innovation posed by potential clashes over intellectual property and regulatory practices.
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NASDAQ IPO Drought And LB Pharma Test
- NASDAQ biotech IPOs remain scarce, with few substantial therapeutic offerings in over six months.
- LB Pharmaceuticals filed to fund a phase 3 for LB-102 after positive phase 2 data and limited cash runway.
Hong Kong IPO Momentum
- Hong Kong shows renewed biotech IPO momentum with recent listings performing strongly.
- Inogen nearly tripled in its first week, signaling investor appetite in the region.
Bear Market Pushed Creative Dealmaking
- Josh described how a previous Hong Kong biotech bear market forced companies into creative dealmaking.
- That dealmaking helped revive the Hong Kong exchange and attract fresh listings this year.