Davis Polk partner and Northern California office co-head Alan Denenberg and partner Emily Roberts discussed Q1 IPO activity with Law360. 

“We are seeing companies using the IPO market opportunistically and getting a positive reception,” Emily noted.

Alan added that life sciences companies, especially later-stage startups with more developed therapies in their pipeline, are preparing to tap public markets. Medical technology and diagnostics firms that have begun to generate recurring revenue are in the queue as well.

When asked whether the upcoming election might affect IPO activity and cause some companies to accelerate their plans to go public, Alan said, “Either way, whether it’s Biden or Trump, that isn’t really going to have an impact on the market’s ability to do an IPO.” 

In Q1 2024, Davis Polk was again a leading advisor on IPOs, taking part in five IPOs that raised $2.7 billion. This includes the IPOs of Reddit and Auna, two of the three largest IPOs from March. 

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