ARTICLE | Finance
Summer bloom
Assessing the state of biotech follow-ons financings
September 19, 2016 7:00 AM UTC
The third quarter has been robust for follow-on offerings and mean discounts are not as steep as when the year began. But companies should not assume the buyside is willing to fund all comers under the same terms.
The money is being allocated at near-market prices only to companies that are raising out of strength. Those without news drivers were met with heavy price pressure...