News Formal

WeWork IPO woes are bleeding into the biotech market, bankers say - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 46 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 51%

Ireland News News

Ireland Ireland Latest News,Ireland Ireland Headlines

Biotech IPOs are up against a growing aversion to risk after the WeWork debacle

Rahul Chaudhary, the head of equity capital markets at SVB Leerink, told Business Insider that going into September, the biotech IPO market was strong.

Even before ADC decided to pull its IPO, a top healthcare banker told Business Insider that he's advising clients to halt any listing plans this year. WeWork's disastrous IPO played a part, he said. Like tech, the biotech industry is also flooded with promising but yet unprofitable companies. Health firms often require millions of dollars in funding and sometimes a decade or more of studies to develop blockbuster drugs.

A recent Bank of America report from said that unprofitable IPOs have mushroomed to "tech bubble levels.""Recent IPO withdrawals could be a warning sign that investors are shifting focus to profitability, amid macro concerns," Bank of America said in the note to clients on Monday.The London M&A banker said that while WeWork's pulled IPO last month acted as a barometer for plunging risk appetite, other factors have played a big part as well.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Lack of transparency was a big factor in IPO flops, experts say - Business InsiderThe real reason IPOs are flopping is the lack of startup transparency, some experts say. And they worry that a new SEC rule could make things worse Or that these companies are just pure crap fueled by Ponzi schemes and huge egos. You have the so-called unicorn companies who never made a profit getting IPOs like Halloween candies.
Source: BusinessInsider - 🏆 729. / 51 Read more »

16 wild details that reveal the lavish life of WeWork founders Adam and Rebekah Neumann - Business InsiderAs of March, Forbes estimated that WeWork cofounder Adam Neumann was worth $4.1 billion. It has since reported that he is no longer a billionaire. who is who? This is so sad
Source: BusinessInsider - 🏆 729. / 51 Read more »