Nasdaq triple IPO play brings in $345M as the big biotech party rocks on
After Entasis Therapeutics $ETTX hit the floor on Nasdaq Wednesday after pricing its offering below the range, the stock cratered fast, plunging 29% and likely causing a few frowns among the rest of the biotechs in the queue for an IPO. But overnight we saw three more drug developers go public, playing inside the range and raising a collective $345 million.
No doubt, the action at the Nasdaq casino last night will bring in more punters looking to cash in on the big wave of biotech IPOs for 2018 — many without even a first round of human data to look at — as the industry looks to see how many small outfits can steer their way into the public market.
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