INITIAL PUBLIC OFFERINGS:Five Life Sciences Companies Price IPOs below Target Midpoint
Enthusiasm wanes as the newly public biotechs trade flat or down out the gate.
While life sciences IPOs continue to get done, it seems that most must now slash their target price to go public. The five life sciences companies that completed initial public offerings during the fourth week of July discounted their shares 26.4 percent on average from the midpoint of their target range to get their deals done. That compared to a 14.2 percent discount on average for the 56 life sciences companies that went public during the first half of 2012. Read More