The big question of the day is whether the unprecedented bull market we've been seeing generate billions of dollars for biotech is sustainable or has transformed into a fragile bubble ready to pop. And we decided to put that question to our audience of subscribers, looking for a revealing snapshot of what the industry is thinking today.
Royal Philips plans an IPO for its lighting solutions business during the first half of next year. It's slated to offer only a minority interest in the IPO, which will be followed subsequently by one or more follow-on offerings intended to fully divest Philips.
Med tech IPOs came on strong during the first couple of months of the year with at least a half-dozen new offerings. But that pulled back in recent weeks as some med tech players in the IPO queue opted to postpone or withdraw instead.
Inogen was off 15% in early trading on March 12 after the company divulged that it will postpone its 2014 earnings announcement.
Palo Alto CA's Carbylan Therapeutics is developing a Phase III injectable combination therapy for knee osteoarthritis to compete with Sanofi's offering, but in a setback, its planned $75 million IPO was postponed.
RainDance Technologies is moving one step closer to completing its long-awaited IPO, filing plans for a $60 million offering to cash in on a growing market for its next-generation sequencing tools.
Former Elan CEO Kelly Martin and other people with links to the Irish drugmaker are aiming to raise up to €325 million ($364 million) in an IPO to bankroll their life science investment fund. The IPO on the Irish Stock Exchange could dwarf last year's listing by Circassia and become one of the biggest floats in European biotech history.
RainDance Technologies has taken a step toward completing its long-planned IPO by filing the paperwork for a $60 million offering.
Indian diagnostics company Thyrocare, which touts itself as "the world's largest thyroid testing laboratory," is planning an IPO on the Indian stock market by the end of June with hopes of raising $85 to $100 million.
Only one out of a potential of 5 med tech IPOs has gotten out this week, but it has done so with style. Invitae raised $102 million in an IPO that priced above its range and was upsized. It's a sign that life sciences investors remain picky amid a sea of med tech IPO offerings, as a number of neglected companies rush to the exits.