At the end of the third quarter, the industry hit an important milestone with public and private biotech companies collectively raising $25 billion for the nine-month period. The total ranked as the second highest amount of financing dollars raised during the past 20 years. The question at that time was whether the amount of $36.9 billion, generated in 2000, could be surpassed.
Not only did 2014 bring about a record number of biotech initial public offerings (IPOs), but the stock market performances of many of these graduates was absolutely stellar and enough to vault several into the top-10 positions of "Darlings of Wall Street" for 2014.
Not only did 2014 bring about a record number of biotech initial public offerings (IPOs), but the stock market performances of many of these graduates was absolutely stellar and enough to vault several into the top-10 positions of "Darlings of Wall Street" for 2014. (See related article in this issue.)
There's nothing like starting the new year on a high note with news of a record venture financing. Cambridge, Mass.-based Moderna Therapeutics Inc. said it closed a whopping $450 million financing that will fuel and expand its messenger RNA (mRNA) therapeutics platform across a number of therapeutic indications.
Although it turned out to be a challenging month for biotech companies, it didn't take the gloss off what was a very positive year for the sector. In fact, many of the industry's blue chip, growth and emerging public biotech companies returned stunning percentage gains in their share values.
Philadelphia-based Spark Therapeutics Inc. put an exclamation point on a year that has seen gene therapy capture the attention of biotech investors big time by filing a S-1 registration statement for its proposed initial public offering (IPO) of its common stock.
With another warm reception predicted for biopharma IPOs in 2015, three more companies are looking to take advantage and enter the public arena. San Diego-based Tracon Pharmaceuticals Inc. is developing chimeric antibodies for cancer and age-related macular degeneration therapies and has filed to raise $58 million from its offering.
The industry's blue chip companies took it on the chin in December with investors cashing out their profits triggered by news that Express Scripts Holding Co., the biggest pharmacy benefit manager (PBM) in the U.S., made known its plan to take up Abbvie Inc.'s Viekira Pak to treat patients with chronic genotype 1 (GT1) infection and drop from its list Gilead Sciences Inc.'s Sovaldi (sofosbuvir), the blockbuster nucleotide analogue inhibitor of NS5B approved in late 2013 for GT1 HCV.
Our regular "Word on the Street" column provides the most entertaining and thought-provoking quotes that the BioWorld Today/BioWorld Insight staff select every week. These insights and opinions are drawn from a variety of sources: during the course of interviews with biotech executives, from industry reports provided by analysts, webcasts, and some that are gleaned at conferences that we attend.
