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ARTICLE | Finance

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Why U.S. public financings have been slowed but not shuttered by the shutdown

January 18, 2019 11:18 PM UTC

A combination of bad calendar luck and the U.S. government shutdown is trending toward this being one of the slowest Januarys for biotech public financings in recent years. But a few deals are getting done as bankers reassure companies that follow-ons from existing shelf registrations can price without SEC approval.

The SEC has retained only a skeleton staff due to the shutdown. While it can still accept new S-1s and shelf registrations, the agency cannot review or declare them effective...