Shares in Bavarian Nordic A/S fell sharply after its development partner Johnson & Johnson terminated collaboration and license agreements in hepatitis B virus (HBV) and human papillomavirus (HPV). Shares in the Danish company (OMX:BAVA) fell nearly 13% to DKK 115.75 (US$16.39) following the announcement. The partnerships, with J&J’s Janssen pharma unit, began with a $187 million tie-up in 2014, to develop an Ebola vaccine that is now approved in the EU. That led to an $171 million HPV vaccine research agreement in December 2015 and an $879 million deal covering HIV-1 and HBV research in 2017.

As many biopharmas rethink plans to go public on less-than-welcoming U.S. markets, Hillevax Inc. forged ahead, pricing an upsized IPO April 28, offering 11.8 million shares at $17 apiece, the midpoint of its previously proposed range, for gross proceeds of about $200 million. That’s the highest amount raised in a U.S. IPO so far in 2022, which saw only nine companies go public on Nasdaq during the first quarter.