Sorrento Therapeutics will acquire ACEA Therapeutics in a deal worth up to $488 million. Both companies develop novel cancer drugs, both are headquartered in San Diego and both have operations in China. 

Issuing stock in the public markets has been the rage this year. Whether through traditional initial public offerings (IPOs), direct listings, or special purpose acquisitions (SPAC deals), many companies made their stock market debuts in 2020.