The thing about having 11 bankers ...
... is it's hard to keep tabs on them all.
One of the 11 underwriters tasked with managing Moderna Therapeutics' $500 million IPO made some "unauthorized communications" about the offering, according to a company filing, and those communications might have run afoul of the law.
Moderna didn't name the underwriter in question, but, as The Wall Street Journal pointed out, the only name subtracted from the latest IPO filing is that of Bryan Garnier & Co, a European investment bank.
It's unclear what those "unauthorized communications" were. Moderna declined to comment, citing SEC rules, and Bryan Garnier didn't respond to questions from STAT. But the entire affair is a reminder that while running biotech's biggest-ever IPO requires a lot of hands on deck, there's no guarantee none of those hands will go astray.