Contract medical research firm Quintiles Transnational Holdings is in the market with a US$812m follow-on offering. The offering is the firm’s first public stock sale since its IPO ten months ago.
What a difference a week has made. Building on the exuberant receptions shown to Dicerna Pharmaceuticals and Ultragenyx Pharmaceuticals the previous week, seven clinical-stage drug firms lined the IPO pipeline last week. Most were oversold heading into pricing, although the aftermarket performances for uniQure, Auspex Pharmaceuticals and
The example of Dicerna Pharmaceuticals should encourage confidence among the line of biotech companies following in its wake to market. Once the domain of a handful of hardcore scientific investors – notorious as tough negotiators because of exclusivity – the industry is benefiting from the participation of mainstream investors on equity financings, even at early stages of development.
- Ladder Capital climbs towards flotation
- New crop of biotechs in good health
- Flagging biotech space revived by positive trial results
- Post rolls with convertible
- Tech CBs stand up to scrutiny
- Cheniere funds LNG build-out with IPO
- US Equity House: Goldman Sachs