The flip side of the hot IPO market? A chill could trigger a sudden cash crunch in biotech, followed by more deals
Over the last 5 years biotech IPOs and follow-ons have raised a tsunami of cash totaling some $128 billion, according to a new estimate out from Leerink. And these newly coined public players have been spending money fast.
Geoffrey Porges says that by the end of Q3 $85 billion was burned in pursuit of their goals. And with $43 billion still on the books, he’s raising a red flag for the cash crunch that may be awaiting a large segment of these drug development upstarts as early as 2019.
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