All articles tagged with #private market
Goldman Sachs plans to invest up to $1 billion in T. Rowe Price, acquiring about 3.5% of the firm, and will collaborate to offer private market products to retail investors, focusing on retirement solutions amid industry shifts and asset outflows.
While early-stage startups are seeing stronger valuations and smaller declines in total capital availability, late-stage investment has been in retreat, leading to a misconception that the startup ecosystem as a whole is struggling. Data from Carta shows that seed-stage startups have only experienced a 58% decline in capital raised in Q3 2023 compared to Q4 2021, while Series A, B, and C rounds have all seen declines of 80% or more. This challenges the notion that startups should stay private for as long as possible, suggesting that an early path to an IPO may be more beneficial.
Elon Musk's SpaceX is reportedly in talks to sell between $500 million and $750 million of its stock at a valuation of $175 billion or more, making it more highly valued than any IPO in U.S. history. This marks a substantial increase from the company's previous valuation of $150 billion in July. SpaceX is expected to bring in revenues of $9 billion in 2023 and has a dominant position in the space transportation market. Despite rumors of a potential IPO for its satellite business, Starlink, Musk has denied these reports and expects a public offering to happen in 2027.
Analysts believe that Moderna is likely to meet its sales target for this year as it only needs to tap a small portion of the private market with its COVID-19 vaccine. Around 20 million people need to be vaccinated with Moderna's updated vaccine for the company to reach $2 billion in 2023 sales from the private market. Moderna's sales forecast for its COVID-19 vaccine has been called into question after Pfizer lowered its outlook due to lower-than-expected vaccination rates. However, analysts expect Moderna to avoid a similar decline in sales outlook as it started off more conservative. Moderna's shares have fallen by 22% since Pfizer's warning. The company's broader mRNA-based respiratory pipeline, including flu and RSV vaccines, is expected to reach $10 billion to $12 billion in sales by 2025.
Covid-19 vaccines may soon be available for private purchase in the UK, as the UK Health Security Agency (UKHSA) has expressed its support for such a move. Manufacturers like Moderna and Pfizer, who already supply the UK government, are preparing to sell vaccines privately in the US. The UKHSA has stated that it will not prevent manufacturers from initiating a private market for vaccines, but rather welcomes the innovation. Currently, Covid-19 vaccines in the UK are only available through the NHS and to those who meet eligibility criteria. Private jabs are expected to be available in ready-filled syringes by spring at the earliest.