BioCentury
ARTICLE | Finance

Ebb & Flow

August 4, 2003 7:00 AM UTC

ESPR's haircut is definitely the outlier for follow-ons this year. Investors have trimmed a modest 7.5% on average during the current set of road shows, including from ESPR, to account for the added dilution (see "Holding Up" ).

The initial reaction to the three follow-ons filed last week continues to provide encouragement. Epix (EPIX) and MGI (MOGN) each gained on the news, while SciClone (SCLN) got only a minor trim...