Biotechs extend public, private marketing

摘要

That biotechs are plying investors for capital is hardly surprising. After a coalescence of companies and investors at the JP Morgan healthcare conference (January 9-12), there are now five biotechs on the road publicly marketing IPOs. A similar number of already public companies extended their hands behind closed doors last week, IFR was told. The confidential marketing processes apparently met with limited success, heron THERAPEUTICS and ZYNERBA PHARMACEUTICALS surfaced with overnight public financings on Wednesday, sized at US$150m and US$40m, respectively. While Heron, a developer of cancer therapeutics, and cannabinoid drug developer Zynerba did secure targeted funding, others probably balked at the asking price.