Four biotech IPOs raised $1.5B in April, the biggest monthly tally in more than five years, according to Renaissance Capital. The new listings included Hemab Therapeutics and Seaport Therapeutics, each with upsized offerings. The month’s volume suggests renewed appetite for public-market biotech risk as investors prioritize companies with credible pipelines and near-term value catalysts. For issuers, the strong reception can translate into broader capital-raising flexibility, while for the sector it reinforces that market liquidity remains a key lever for pipeline execution.