Drug developers that have raised more than US$10mil in US initial public offerings (IPOs) this year have largely faltered with six of the 11 firms diving below their debut prices and the median decliner trading 45% below the offer price. — Reuters
NEW YORK: After a string of lacklustre deals, the biotech industry is looking to four debutants expected to price first-time share sales in the coming weeks to see if they can reignite the sector.
Drug developers that have raised more than US$10mil in US initial public offerings (IPOs) this year have largely faltered with six of the 11 firms diving below their debut prices and the median decliner trading 45% below the offer price, data compiled by Bloomberg showed.
