Foundation Medicine, Ophthotech Enjoy First-Day IPO Pops

The flood of new listings continued unabated, as a trio of offerings followed three successful IPOs last week. Cancer diagnostics start-up Foundation Medicine and “wet” AMD therapy developer Ophthotech outperformed expectations, pricing above their ranges and selling more shares than anticipated.

Three more life sciences companies priced their initial public offerings Sept. 25, signaling that public investors are still buying into the sector in a big way. Two of the three, high-profile cancer diagnostics company Foundation Medicine Inc. and late-stage eye therapeutics developer Ophthotech Corp., priced above their proposed ranges to raise more than $100 million apiece. Both also enjoyed strong first-day performances as well.

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Pink Sheet for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from United States

More from North America