Obesity drugmaker Rivus to weigh IPO as soon as this year, Bloomberg says

Rivus Pharmaceuticals, a drug developer focused on obesity treatments, is considering a US initial public offering as soon as 2024, Bloomberg’s Bailey Lipschultz reports, citing people familiar with the matter. The company is working with banks on a listing, said the people. Rivus, which counts RA Capital Management among its investors, may target raising more than $25M, one of the people said. An IPO would look to build on momentum for the biopharmaceutical industry after September was the biggest month for U.S. listings since 2021, data compiled by Bloomberg show. BioAge Labs (BIOA), which is also developing drugs for obesity, raised $228M in an expanded offering last month and has climbed 25% from a Sept. 26 debut.