This week’s flurry of IPOs continued as Agomab Therapeutics and SpyGlass Pharma raised a combined $350 million in separate offerings, and Veradermics priced a $256 million IPO for its oral hair-loss candidate. Agomab sold $200 million in American depositary shares to fund immunology programs; SpyGlass raised $150 million for long-acting ocular therapies; Veradermics will use proceeds to complete pivotal trials for an oral minoxidil formulation. The cluster of listings follows a slow streak for biotech IPOs since 2022; recent public-market receptivity and successful post-IPO performances have encouraged more mature startups to pursue listings. Underwriters and investors are recalibrating expectations for near-term clinical milestones and cash burn. Market watchers say the quality of dealflow—companies with clearer clinical paths, experienced management and Big Pharma partnerships—will determine whether this week’s activity signals a durable rebound or a short-lived window.