DISCOVER FINANCE

September is typically one of Wall Street’s busiest months for initial public offerings, but this year, it fell extremely short of expectations. The fall IPO market has stumbled out of the gate, with only three sizable companies entering the public market following Labor Day as of September 22. Many companies that planned to do the same in this fall window have begun to rethink their strategy. For example, Nuclear services company Holtec Nuclear and CVC-backed Bamboo Insuran

GRAIL shares surged this week as it received a major regulatory boost for Galleri, its blood test capable of detecting over 50 types of cancers from a single blood draw. On September 23, 2026, an FDA advisory committee voted 10-0 that Galleri is safe and 6-4 that it is effective. Maybe more critical for its future success, however, the panel voted 7-2 that the test’s benefits outweigh its risks for adults 50 years or older. The FDA is not required to follow these decisions m

A decade ago, large pharmaceutical companies looked to biotech hubs in the United States and Europe for their next blockbuster drugs. It appears that now, China has overtaken this role. On September 15, 2026, GSK agreed to a deal potentially valued at up to $750 million to acquire global rights to an experimental cancer drug from the privately held Chinese biotech company Chimagen Biosciences. The drug is a trispecific T-cell engager for multiple myeloma that has not even en

For generations, the path for young bankers entering Wall Street was, for the most part, similar. Late nights with heads buried in PowerPoint decks, analyzing numbers and spreadsheets that made heads spin, creating financial statements that stretched pages. But what OpenAI just created may mean humans no longer need to do this work. On September 10, 2026, OpenAI launched ChatGPT for Financial Services. In coordination with Morgan Stanley and Evercore, the system serves as a

After years of hesitation, Wall Street is pouring money back into biotechnology. On September 18, 2026, Electra Therapeutics went public, raising $350 million in one of the year’s largest biotech IPOs. Selling 23.3 million shares at $15 each, the company reached a market value of roughly $1 billion. This decision, however, is part of a much larger comeback. Electra is the 21st biotech company to go public this year. 11 of these companies have managed to individually raise ov

OpenAI has spent years racing to build the most powerful artificial intelligence. That race is now causing the company to put one of the most anticipated IPOs in history on hold. Earlier this year, OpenAI was preparing for an IPO that valued the company at around $1 trillion. Despite potentially being one of the largest listings ever, CEO Sam Altman has decided not to go public in 2026, arguing that current concerns over AI safety make this the wrong time to enter the public