Tag Archives: Industry Analysis

Biotech IPO Window – Still Ajar?

IPO plans for Quark Pharmaceuticals were officially put on hold last week as markets continue to drop and investors shy away from risk. This is the fifth IPO withdrawal since June. Ambit, Agendia and Clarus cited market reasons for their withdrawals, and Advanced BioHealing sought a higher valuation exit via acquisition. Only one biotech IPO, Horizon Pharma, has made it out in the last six months. Of the nine biotech IPOs so far in 2011, Read More >

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Biotech IPO Update for May 18th, 2011

There are now eight biotech IPOs for 2011, bringing the total for the recent US IPO window to 28. Post-IPO performance is finally picking up with the median return at +14% for these 28 IPOs. Advanced BioHealing was scheduled to IPO this week, but Shire (SHGPY) came in with a $750M offer to buy the company. Sagent Pharmaceuticals (SGNT) was the most recent IPO, back in April. Sagent is a specialty pharma company selling injectable Read More >

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Nasdaq Biotech Index re-ranking for next Monday

Twice a year, in May and November, the NASDAQ OMX Group re-ranks the closely watched Nasdaq Biotechnology Index (NBI). This Monday (May 23rd), six companies will be added to the Nasdaq Biotech index and two will be removed. The additions are Achillion Pharmaceuticals (ACHN), AVEO Pharmaceuticals (AVEO), Columbia Laboratories (CBRX), ISTA Pharmaceuticals (ISTA), Pacific Biosciences (PACB) and Zalicus (ZLCS). The two companies to be removed from the NBI are Biodel (BIOD) and China Sky One Read More >

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IPO Update – April 5th, 2011

The six biotech IPOs of 2011 have followed 2010′s IPO trends; all took significant haircuts getting out the door and most are performing modestly.  The median downward adjustment in the amount raised for 2011′s biotech IPOs stands at -31%, the average is at -33%.  These companies have raised a median and mean amount of $49M and $54M, respectively. Despite the lukewarm IPO reception biotech stocks have faced in the U.S., two more U.S. companies have filed to go public since the close of 2010.  Specialty pharmaceutical Read More >

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The BTK buyout

Remember this BTK post we wrote back  in February of 2010?  Well, we thought it was time to revisit the makeup of the BTK index (NYSE Arca Biotechnology Index).  Five of  the 20 companies that comprised the index in February of last year have either been acquired or are facing acquisition.  That means 25% of the entire index has been snapped up in a little over a year (Table 1). Millipore (MIL) and OSI Pharmaceuticals (OSIP) acquired in 2010 by Merck KGaA and Astellas, respectively, have already Read More >

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