Did Moderna break the biotech IPO market?

IPOs raked in record sums in 2018 helped along by unicorn listings such as Moderna, Allogene and Rubius. Perhaps the most electrifying of all public listings last year was that of Moderna $MRNA, a unicorn biotech that pulled off the biggest IPO in early December with a $604 million bounty that assigned it a market cap of about $7.5 billion after selling an upsized 26.2 million shares at $23 each — the mid-point on its range.