Financial market conditions are beginning to improve for biopharmaceutical companies raising money to fund research and development programs, thanks in large part to an increase in mergers and acquisitions that have seen big pharma companies buy small firms at attractive valuations. But while deals are occurring across the preclinical through commercial-stage asset spectrum, the majority of financings – and particularly initial public offerings – still involve companies with drug candidates entering or in the clinic, where buyout valuations give investors the highest returns.
Financial Market At The Start Of An Upswing, For Companies With Focused Strategies
Great Story Not Enough; Milestones Must Be Near And Clear
Investors, advisors and companies that have raised cash recently insist funding is available and IPOs are possible for drug developers that can clearly outline future clinical milestones.
