Can biotech maintain its breathless IPO pace?
There have been 43 biotech IPOs in 2018, with another five expected this month, putting the industry on pace for its biggest year of Wall Street debuts since the waning days of the last boom.
And, perhaps most important, they’re doing pretty well. The share prices of 2018’s IPO class are up about 25 percent in aggregate and 9 percent at the median. All the while, investors’ appetite for risk appears to be at an all-time high, as six of 2018’s successful IPOs come from companies that were yet test their therapies in human trials. Only one such company managed to go public in 2017.
This all sets the stage for Moderna Therapeutics, a $7.5 billion private firm that is said to be preparing what would be biotech’s biggest-ever IPO.
Read more.
And, perhaps most important, they’re doing pretty well. The share prices of 2018’s IPO class are up about 25 percent in aggregate and 9 percent at the median. All the while, investors’ appetite for risk appears to be at an all-time high, as six of 2018’s successful IPOs come from companies that were yet test their therapies in human trials. Only one such company managed to go public in 2017.
This all sets the stage for Moderna Therapeutics, a $7.5 billion private firm that is said to be preparing what would be biotech’s biggest-ever IPO.
Read more.
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