Published on
Monday, July 2, 2012
Historically, public biotechs have a harder time
raising equity during times of high volatility. The average quarterly money
raised via IPOs, follow-ons, PIPES and other equity deals fell to about $1.2
billion during 4Q08-1Q09, 2Q10 and 2H11 when the Chicago Board Options Exchange
Market Volatility Index (VIX) traded above the 30 mark. In the less volatile
period from 2005-07, when the VIX traded on average at about 14, the average
quarterly money raised via equity financings was about $3 billion. Source:
BCIQ: BioCentury Online Intelligence
