BioCentury
ARTICLE | Finance

Ebb & Flow

February 6, 2006 8:00 AM UTC

Buysiders have been rotating money down a tier for the past few months from big cap biotech to mid-size companies. The January follow-ons illustrate the point, as investors have been clamoring for shares of late-stage mid-caps where a positive news event can really ramp stock prices.

There's usually a flood of paper each January, which John Rende of Weintraub Capital noted "usually warrants some caution" because investors worry whether supply will outstrip demand. Right now, however, "the overage on the books is very strong and basically tells me that demand is still there." ...