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U.S. Shutdown Halts IPOs, Biotech Startup Finds Workaround

10/8/2025

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Summary

Story summary

The U.S. government shutdown has halted Securities and Exchange Commission (SEC) reviews of IPO filings, slowing IPO plans.
Biotech startup MapLight is the first to use the '20-day registration rule' to bypass SEC approval.
Over 90% of SEC staff are furloughed, raising investor confidence and market concerns.
Some companies may withdraw IPOs and seek private funding until SEC reviews resume.

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Story summary

The U.S. government shutdown has halted Securities and Exchange Commission (SEC) reviews of IPO filings, slowing IPO plans.
Biotech startup MapLight is the first to use the '20-day registration rule' to bypass SEC approval.
Over 90% of SEC staff are furloughed, raising investor confidence and market concerns.
Some companies may withdraw IPOs and seek private funding until SEC reviews resume.