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At Two-Year Mark, JOBS Act Is Regulation Even A Biotech Can Love

May 01, 2014

​Fenwick corporate partner Matthew Rossiter was quoted by Xconomy on how the confidential initial public offering filing process created under the JOBS Act has helped biotechnology companies as they go public.

Speaking at the Thomson Reuters Allicense conference in San Francisco, Rossiter presented data showing that IPOs by biotech companies in 2013 generally priced at or above their target range. 

With the feedback companies can amass during a confidential filing period prior to going public, “they’re more accurately able to predict what they’ll see when they go on the road to price,” Rossiter said.

According to Xconomy, Rossiter also noted that half of life science companies in 2013 were able to move from their first stealth filing to an IPO in less than 90 days — a much shorter time than equivalent high tech companies — which allowed life science entities to take advantage of smaller windows of market opportunity.

The full article is available through the Xconomy website.