By my count, 10 different biotech companies have gone public in the past couple of months.
Surprisingly, five of them still are trading above their IPO pricing. That’s a track record much better than the market’s average, almost lending hope to investors looking to cash in on the tantalizing (alleged) upside of a new public offering; the inherent (and also usually alleged) bullishness behind a novel new drug is just a little gravy.
Despite a decent run for 2013’s biotech public offerings, though, IPOs generally remain bad for your portfolio for the first full year or so of their trading. Read