Stockwatch: Orchestrating investors in the dark
This article was originally published in Scrip
The history of the biotechnology sector is punctuated by binary events. These are mostly clinical or regulatory developments that result in big share price moves. Until recently, an IPO acted like a binary event with big upward share price moves on the first day of trading. What most investors do not realize is that that IPOs can be the result of months or even years of careful orchestration in order to get the story presented to investors straight, even if it is highly spun.