IPO Failures Can Set Up Biotech Successes

Did the 31 biotechs who pulled IPOs since 2003 destroy value? By and large, no-thanks to a growing variety of financing and exit options, most thanks to Pharma's increasing appetite for high-value deals and deeper private equity pockets.

Roger Longman

Like divorce, withdrawing an initial public offering used to be something one lived down. Now it's almost de rigueur.

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