Abstract
SMALL DRUG DISCOVERY firms are capitalizing on the positive momentum that's returned to the market for biotechnology stocks. A dozen have announced plans this quarter to launch initial public stock offerings (IPOs), while nearly as many more hope to raise money through follow-on bids. The upturn, if it persists, may help rescue a sector where limited cash flow has precipitated major cutbacks and consolidation. The number of IPO announcements began to rise dramatically in late August. The shift was easy to see since biotech has been in an acute drought: The last IPO occurred back in the second quarter of 2002. And, whereas biotech IPOs raised less than $450 million in all of 2002, the 12 announced this quarter already target more than $850 million. After two years of declines, better stock market conditions, a run of regulatory approvals, strong clinical data, and better than anticipated earnings are driving a recovery in biotech stocks, says ...
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a call
