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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