Stocks rise 65.9% post-IPO for newly public biotech companies
This article was originally published in Scrip
Biotechnology investment bubble or not, the average return on investment for 29 drug developers that launched initial public offerings during the first nine months of the year is 65.9%. That's a compelling figure for companies trying to decide if they should go public in 2013 and for investors considering whether to participate in biotech IPOs.
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Public Company Edition: The last biopharma initial public offering in the US was on 11 November, but follow-on and other offerings are generating hundreds of millions of dollars. Among RNA drug developers, Ionis issued more than $500m in new debt, while Arrowhead raised $266.8m.
Private Company Edition: Omega raised $438m for its sixth life science fund, while Perceptive and the accelerator Xontogeny partnered on a new $210m venture capital fund. In VC deals, Zentalis and Black Diamond raised $85m each.