The biotech bull market – and in particular the success enjoyed by industry’s newly public companies over the past few years – is going to leave its mark on the industry for several years to come. That’ll be true regardless of whether the current market momentum continues, or whether those observers arguing that froth has tipped over into bubble territory are correct (and maybe they are).
The several billion dollars in initial public offering proceeds (and the billions in follow-on offering funds that ensued) will fuel...
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