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STOCKWATCH: The desperation of a billion dollar week

This article was originally published in Scrip

Executive Summary

As broad stock markets surpassed levels not seen since 2007, biotech companies and their investment bankers demonstrated that the real purpose for the JP Morgan healthcare conference in San Francisco at the beginning of January was not for companies to update investors on their prospects and financial positions, but to spawn as many fund-raisings as possible - having raised more than $1 billion for biotech companies this week.

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