Few clues to flotation fever in past performance
Investors are piling into biotech IPOs, but the track record of previous years' new issues shows how hard it is to pick winners.
What pandemic? Biotech floats break records
After a brief pause in the first quarter flotations have come flooding back, with drug developers raising almost $5bn so far this year.
Venture investing dips again for biopharma
The second quarter saw start-ups raise the smallest venture capital haul in two years, as the number of mega rounds declined.