close

Corporate attorneys unfazed by spate of biotech IPO postponements

December 04, 2013

​Corporate partner Stephen Graham, co-chair of Fenwick's life sciences group, is quoted in the Daily Journal article “Corporate attorneys unfazed by spate of biotech IPO postponements.”

The article cites six biotechnology and life sciences companies that postponed their plans for an initial public offering in November. But Graham tells the Daily Journal that it’s not a sign that investment in the industry is cooling off.

"It's getting toward the end of the year and investors are just catching their breath,” he said.

This year 33 biotech companies have gone public, raising an aggregate of $2.5 billion, the article reports citing a survey from Renaissance Capital, and Graham says he expects to see a strong 2014 as well.

"There is a bit of a pullback right now, but... 2014 will see a ramp up. Whether it will get to the point where things are as frothy as they have been, who's to say? But in terms of expecting it be strong in 2014, I do," he said.