February 5, 2017 Comments Off on Biotech venture capital investments in public equities and performance Posted in: General Biotechnology How do biotech venture investments in public equities (known as VIPEs) perform? Do they outperform mutual funds and hedge funds? While anecdotal evidence points to some really successful investments (e.g. Abingworth’s investment in Algeta in February 2009 (24x deal return)), this analysis of a large sample of VIPEs in the biotechnology and pharmaceutical industry over […]
February 5, 2017 Comments Off on Leaving money on the table in venture-backed biotechnology IPOs Posted in: General Biotechnology How do biotech stocks behave during the first day of trading? How do they perform in the long-run period? What is the link between first-day return and aftermarket performance? This study examines these questions using a large sample of U.S. venture-backed biotechnology IPOs during 1980 through 2015. The analysis of first-day returns (underpricing) of venture-backed […]