Panelists in this afternoon’s business roundtable “Window Shopping – The Buyer’s Perspective on Today’s IPO Candidates” contemplated what it’s going to take to return to a vibrant IPO market.
“What we need is public market examples of IPOs that are successful,” said Ashley Dombkowski, PhD, a managing director at MPM Capital.
Daniel Lyons, PhD, CFA, an equity research analyst at Janus Capital added that having a lack of opportunities can make a company stand out even more than usual.
Targacept went public in 2006 and provides a good example of a company that met expectations after going public. But Alan Musso, vice president, CFO and treasurer of Targacept asserted that the company had a long road to going public. Musso added that his company focused on telling their story, saying that ‘without analyst coverage, you become an orphan out there.’ Timothy Rodell, MD, president and CEO of GlobeImmune, Inc. agreed and added that it is incumbent on companies to talk to customers as well.
Bryan Roberts, PhD, a partner at Venrock, put it into simple terms by stating that ‘if the product works, it’s a good investment, but most of the time, the product doesn’t work.’
Christopher Earl, PhD, former CEO of BIO Ventures for Global Health moderated the panel.