Re­verse merg­ers say hey as biotechs trade low, hunt for al­ter­na­tives and launch few IPOs

The re­verse merg­er an­nounced Wednes­day morn­ing be­tween Ma­gen­ta Ther­a­peu­tics and pri­vate­ly-held Di­anthus Ther­a­peu­tics, which will take over the Nas­daq spot and push for­ward its com­ple­ment path­way drug can­di­dates, high­light­ed the grow­ing field of such fi­nanc­ing moves as dozens of pub­lic biotechs search for ways to ap­pease share­hold­ers and as pri­vate star­tups trudge to­ward Wall Street in an un­for­giv­ing IPO en­vi­ron­ment.

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