Japan Biotech Firm OncoTherapy Set To Soar On Debut
10/19/2005 5:09:26 PM
Japan's hot IPO market and a strong interest in biotech could see the share price of genome drug venture OncoTherapy Science Inc (4564.T: Quote, Profile, Research) double when it makes its debut on the stock market on Monday, brokers say.
But some analysts say recent lofty gains in the shares of biotechnology start-ups look overdone, given the companies' poor track record so far as regards earnings.
OncoTherapy, formed in 2001 by Yusuke Nakamura, a director of the University of Tokyo's Human Genome Centre, will raise eight billion yen ($73.91 million) when it lists on the Tokyo Stock Exchange's Mothers market in the biggest IPO this year on Japan's three markets for start-ups.