Amid Mixed Signals, Evidence Hints At A Biotech Comeback
Biotech stocks are up in the last month after losing more than a quarter of their value in the previous six, but trying to find a consistent pattern to investor confidence in the sector is still proving difficult.
Take recent biotech IPOs, for example. Last week, the third Massachusetts biotech of 2016 went public when Syndax Pharmaceuticals (Nasdaq: SNDX) raised $53 million. Waltham-based Syndax priced its shares at $12 on March 2, below its range of $14 to $16 proposed a few days earlier, and settled for a smaller overall fundraise as a result.
Take recent biotech IPOs, for example. Last week, the third Massachusetts biotech of 2016 went public when Syndax Pharmaceuticals (Nasdaq: SNDX) raised $53 million. Waltham-based Syndax priced its shares at $12 on March 2, below its range of $14 to $16 proposed a few days earlier, and settled for a smaller overall fundraise as a result.