Two new IPOs -- up­sized and over the range -- score $226M and sig­nal a pos­si­ble come­back for biotech

There are two new biotech IPOs out and trad­ing this morn­ing, and both are of­fer­ing some pre­lim­i­nary signs that the biotech win­dow is open­ing up af­ter a long, lean spell.

The big one is go­ing to Bio­haven $BHVN, a start­up that has been whipped in­to shape with a pipeline led by in­dus­try castoffs for pain. Their IPO was priced at $17 a share, ac­tu­al­ly above the range, which we haven’t seen very of­ten. The com­pa­ny scored a rich haul of $168 mil­lion on the sale of 9.9 mil­lion shares.

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