Japan Biotech Firm OncoTherapy Set To Soar On Debut

Published: Dec 05, 2003

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.

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