As we start to close out 2019, the mixed signals regarding the appetite for IPOs are off from 2018’s strong finish. This year’s 33 offerings in the 1H have totaled $2.992 billion, compared to the $3.484 billion seen in the 35 offerings from last year. Large pharma M&A deals, however, continue to surprise and raise questions about a temporary market shift or a lasting trend. With market volatility also on the rise aided by continued global trade tensions, the second half of 2019 raises concerns about the endurance of high valuations. This session will examine the path forward while highlighting the availability of quality targets in the market.