Four drug companies went public this week—Agomab, Eikon, Spyglass and Veradermics—raising about $350m on IPO days and approaching nearly $1bn combined in recent public offerings, according to BioCentury. The renewed demand for biotech IPOs accompanied filings from other firms and revived public‑market appetite. Separately, BioCentury’s review of Series A rounds for 2025 found funding roughly flat versus 2024, suggesting the earlier downturn may be stabilizing rather than accelerating. Investors are signaling selective risk tolerance for well‑capitalized platforms and near‑term clinical assets. The twin signals—successful IPO closings and a steady Series A market—suggest improved liquidity for biotech developers, but aftermarket volatility and selective investor scrutiny of pipelines and cash‑runway remain central to deal success. Companies planning exits should triangulate public reception, clinical milestones, and capital needs before listing.