Advanced Accelerator Applications shines in market debut

摘要

The biotech sector posted its busiest IPO week since mid-September with four pricings on US exchanges. French cancer drug developer advanced accelerator applications stood out among the latest crop of new issues by delivering a 53% first-day gain last week, the best debut by a biotech IPO since gene therapy specialist recenxbio on September 16. "Advanced Accelerator is the type of deal that would have been upsized and priced a dollar or two above the indicative range a few months ago and would still trade up," said a deal source. "You wouldn't want to push on size or valuation after what the biotech space has been through recently."