Biotech IPOs Hit Speed Bump But Public Companies Roar on
The capital markets cooled off somewhat in November with the Nasdaq and Dow Jones Industrial averages both finishing with small gains of 2.5 percent and 3.4 percent, respectively. The uncertain market conditions were also enough to halt the initial public offering (IPO) aspirations of several biotech companies who pulled their IPOs this month. Those included Celladon Corp., of San Diego, which has a heart failure compound Mydicar in Phase II trials; Globeimmune Inc., of Louisville, Colo.; Tetralogic Pharmaceuticals Inc., of Malvern, Pa.; and Vital Therapies Inc., of San Diego.
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