ARTICLE | Finance
Converts finding faith in biotech
Biotechs without substantial revenue are issuing converts of $200M or more
August 20, 2012 7:00 AM UTC
Convertible debt investors are hungry for paper and biotechs are eager to capitalize on this - even those without marketed products and substantial revenues.
Over the last decade, biotechs with sizable and growing revenues have primarily been the ones using convertible notes. It has been more difficult for development stage companies, which have to refinance debt if investors can't convert...