Clovis Oncology went public yesterday and raised a whopping $130M in new money. They originally priced their offering at $13-15 per share. Most analysts expected the price to get discounted as has happened to so many other biotech IPOs in the last two years. Clovis was able to close its IPO at $13/share at the low end of their original offering. Is this a case of the market opening up as the economic indicators are improving or do you have to go for over $100M to get close to your original offering or is it due to the faith the public is placing in a management team that has a record of success. What do you think?
In March, 2010, Anthera Pharmaceuticals raised $42M at $7/share. Their original offering was $13-$15.
In April, 2010 Alimera Sciences raised $72M at $11/share. Their original offering was $15-$17.
In April, 2010, Tengion raised $30M at $5/share. Their original offering was $8-$10.
In May, 2010, Trius Therapeutics raised $45M at $5/share. Their original offering was $12-$14.
In August, 2010, NuPathe raised $75M at $10/share. Their original offering was $14-$16.
In September, 2010, Zogenix raised $56M at $4/share. Their original offering was $12-$14.
In October, 2010, Pacific Biosciences raised $200M at $16/share. Their original offering was $15-$17.
In February, 2011, Pacira Pharmaceuticals raised $42M at $7/share. Their original offering was $14-$16.
In February, 2011, AcelRx Pharmaceuticals raised $40M at $5/share. Their original offering was $12-$14.
In April, 2011, Tranzyme Pharma raised $54M at $4/share. Their original offering was at $11-$13.
In April, 2011, Sagent Pharmaceuticals raised $105.8M at $16/share. Their original offering was at $14-$16.
In July, 2011, Horizon Pharma raised $45M at $9/share. Their original offering was at $10-$12.
In October, 2011, NewLink Genetics raised $43.4M at $7/share. Their original offering was $10-$12.
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