A table that, using data compiled by JB Strategy Partners, lists nearly two dozen reverse mergers of biotech companies that took place by August 2026.

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*upfront investment, not including warrants or milestones. **not disclosed, deals were all-stock. Chart does not include mergers like NOMAD-Lixte Biotechnology, where the resulting company is not a drug developer. A fizzled deal between Candid and Rallybio was also excluded.

Chart: Jacob BellSource: JB Strategy PartnersGet the data