Third Harmonic, with an old Novartis drug in hand, braves frosty IPO waters in a quick-fire cash grab

Third Harmonic Bio is braving the frosty IPO waters. With the weakest quarter for biotech IPOs in years still fresh in the memory, and the proceeds of a $105 million series B still in its bank account, the allergy and inflammatory disease startup has filed to tap public investors for cash to run early-phase trials.