Monday, September 24, 2001
Finance: A winter of discontent
While the Sept. 11 attack has quickly spurred a frightening
market selloff, the long term impact on biotech will reflect the relative strength
of individual company balance sheets, coupled to the relative resolve of investors
to stay with defensive plays in the big and perhaps mid-cap groups.
For public companies, the already robust PIPE market looks
to be the vehicle of choice, while very early and very late stage plays may
find favor in the private equity space.