June 3, 2013
The Biotech IPO Scorecard
Remember Plexxikon? The Berkeley, CA-based company had a lot of talent for structural biology-based drug design, an impressive new treatment for melanoma, and a strong management team.
Two years ago, nobody on Wall Street cared one whit. Plexxikon flirted with the idea of going public, found little interest, and sold itself off to Japan-based Daiichi Sankyo for a more than 10-fold return on investment. It was a poster child for how dead the biotech IPO market was in 2010 and 2011.
My, how things have changed.
Read more: http://www.xconomy.com/national/2013/06/03/the-biotech-ipo-scorecard-of-2013-whos-up-whos-down/