Ebb & Flow

Last week's financing activity illustrated the variety of paths companies are taking in this uncertain IPO market. Two companies that had pulled earlier attempts at IPOs took distinctively different paths, with Idenix tossing its hat back into the IPO ring and BioNumerik going back to its VCs for a series H round. A third company, Peninsula Pharmaceuticals, checked both those boxes, quietly tapping the VCs and then filing.

Market watchers and other IPO hopefuls alike will be keeping a close eye on how Idenix fares in its second try at floating. The antiviral company is considered one of the hottest of this year's IPO candidates. The company certainly has a lot of "mo" to its story, after selling a majority stake to Novartis (SWX:NOVN; NVS) as part of a massive hepatitis deal earlier this year(see BioCentury, March 31). ...