Monday, August 12, 2013
Even though this year's class
of newly public biotechs is showing a stellar performance in the aftermarket,
some IPO candidates have been forced to limp out or shelve their plans
altogether. This suggests investors continue to evaluate new stories
selectively despite the allure of the most robust IPO market in more than five
As of last week, 25 of the 33
companies to price an IPO this year were trading at or above their offer price.
The group is up a median of 26%. Indeed, 20 companies have outperformed an
already strong biotech market, as measured against the performance of the
BioCentury 100 index (see "2013 IPO Performance," A3).