BioCentury
ARTICLE | Finance

3Q Financial Markets Review: Happy Birthday

October 2, 2000 7:00 AM UTC

The IPO window that opened exactly one year ago has given birth to many publicly held companies that are promising to provide value from the genetic code, as well as more traditional product-oriented companies. In the past 12 months, 55 U.S. companies have gone public, raising $5.3 billion, while 24 European companies have raised $1.8 billion in IPOs. This sheer proliferation raises the question of whether the market can continue to feed all of these mouths until they turn the corner on profitability.

But industry players aren't too concerned with oversupply because in their eyes the demand for biotechnology investments - both on the primary and secondary markets - has never been stronger...