SBBP News

The bigger they are, the harder they fall - and the more notable their absence. First Data raised $2.6 billion in the year's largest IPO, but broke issue on the first day. Two small biotechs priced IPOs that were 1/100th the size of First Data's offering. All three deals underperfomed, ranging from a decline of 4% to a gain of 0.5%. For the second week in a row, a $1+ billion...read more

Strongbridge Biopharma, a late-stage biotech developing therapies for rare endocrine disorders, raised $25 million on Thursday by offering 2.5 million shares (80% insider) at $10. The Trevose, PA-company originally planned to offer 4.25 million shares at $17.93, before it slashed its terms, added insider buying and removed lead left bookrunner BofA Merrill Lynch on Wednesday....read more

Strongbridge Biopharma, a late-stage biotech developing therapies for rare endocrine disorders, slashed the proposed deal size for its upcoming IPO on Wednesday. It also removed lead left bookrunner BofA Merrill Lynch. The Trevose, PA-based company now plans to raise $25 million by offering 2.5 million shares at $10 per share. Its shares are quoted on the Norwegian OTC under...read more

Continuing the recent trend, four out of five deals priced below the range. This week, five companies raised $765 million, pricing an average of 19% below their proposed midpoints. All four deals that priced below traded up, popping 10% on average and ending the week up 12%; the one that priced in its range dropped 6% in its first day and ended the week down...read more