Haley Trethaway

speaker

70 appearances 1 recordings 1 series first heard Jun 2026 last heard 26 Jun

Haley Trethaway’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jun 2026 with 1.

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Making Sense · Dealmaking in healthcare: A mid-year pulse check · 26 Jun 2026 podcast

How are pharmaceutical and broader healthcare companies responding?

That's great, Jerry.

Thanks.

Great question, Jerry.

So the equity capital markets are having a banner year.

At the time of this recording, we're coming off a period where we just saw over 150 billion raised across sectors in the matter of 10 days between the Alphabet deal and the SpaceX IPO.

So it's a it's a very exciting time in ECM broadly.

But setting those jumbo deals aside, it's been incredible to see the continued momentum in biotech that you alluded to earlier.

And with that, we've seen a a strong level of activity both on the IPO and the secondary follow-on side.

It's already been the most active year for biotech IPO activity since 2021, which is exceptional.

And we're only halfway through the year.

And I think one of the things that's been particularly exciting for our team is just the prevalence of larger and larger raises that we're seeing get done.

As you mentioned earlier, we've seen the two largest IPOs.

Ever in the biotech space have both priced this year.

One is for Kylero, which we led.

We also saw the largest follow-on of all time for Revolutions Medicine, which was a great outcome as well.

We've been seeing certain issuers leverage the convert product to raise additional proceeds in these transactions.

And so seeing that broadening out of not just traditional follow-on capital, but seeing the convert market activated has been really exciting and encouraging.

Just to see the level of capital formation that we're having in the space.

You know, that being said, I don't want to over-index too much to what we're seeing in biotech, because it is a bit of a tale of two cities in ECM right now.

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