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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