From Luke Timmerman, a tale that the 9 biotech IPOs so far in 2012 are not only doing better than expected but are actually leading more prominent Tech company IPOs from this year. From his post this morning:
Regular readers of this column [Xconomy's BioBeat] know that I’ve long been skeptical about how much appetite investors have for biotech IPOs. But I did notice some “modest signs of life” in the IPO market a few months ago, and was curious to follow up and see what has happened. By my count, there have been nine biotech IPOs so far this year, compared with 12 in all of 2011. That still says to me there’s limited demand from investors for new drugs, devices, and diagnostics. But of those nine companies that made it through the IPO gauntlet, six are trading above their IPO price and none have crashed.
So all is not lost in the Land of the Biotech IPO.
Posted by Bruce Lehr Aug 13th 2012.