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Year's First 4 IPOs Go South As Proteostasis, AveXis Launch

This article was originally published in Scrip

Executive Summary

Biotechnology has been the only industry to launch initial public offerings in the US in 2016, and based on the performance of the four drug makers' stocks so far, they may be the only biotech firms to go public this year.

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Proteostasis planned to raise cash this week, but scrapped the offering after an investor that shorted the stock published a scathing report. Also, Arena raised more than $350m in an offering after its positive Phase II etrasimod data, and venture capital flows to biopharma firms with big ideas.

Finance Watch: Roivant Raises $1.1bn, Relying On Private Equity To Fund New Companies

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IPO Update: TiGenix Debuts In December After Motif Launched In November As 2016 Offerings Best 2015

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