Stemline Therapeutics Is First Biotech IPO of 2013

Despite the positive reception that the Street afforded Intercept Pharmaceuticals Inc. and Kythera Biopharmaceuticals Inc., which each priced their initial public offerings (IPOs) at the top end of their ranges on the same day back in October, the bullish response to those two biotech offerings was not, it turned out to be, a harbinger for others to quickly follow suit.