Biotech Lock Up Expiration Hell Portfolio: Wave II Message Board

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Biotech / Medical : Biotech Lock Up Expiration Hell Portfolio: Wave II

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To: tuck who wrote (21)	10/5/2004 11:07:59 AM
From: tuck	Read Replies (1) of 107

>>10:27AM Theravance IPO prices above range; biotech IPO market thaw? (THRX) 16.00: Theravance prices its IPO at $16, above the expected range of $13-$15. The co is a development stage biotech co with four product candidates having advanced into clinical trials, one of which is in Phase 3 and one in Phase 2. The co focuses on small molecule medicines for respiratory disease, bacterial infections, overactive bladder and gastrointestinal disorders. The co has a strategic alliance with GlaskoSmithKline (GSK), which owns all Class A shares, or nearly 20% of shares outstanding.... The IPO priced above range, despite increasing the deal size to 6.2 mln from 5.2 mln. A biotech IPO pricing so strongly is a real eye-opener as these IPOs were avoided like the plague for most of the summer. Helping the pricing was a small float and Merrill and Lehman as co-leads. Also helping is the Biotech Index (BTK) increasing nearly 20% from its August lows. It's too early to say if the biotech IPO market has thawed, but this is a good start.<< Courtesy of Briefing.com. Lost that bet, good thing we didn't talk about financial terms. Cheers, Tuck

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