Biotech IPOs are on the rise so far this year

05/23/2013 | Reuters

A growing stock market, low interest rates and a lack of market volatility are driving investors to put money into biotech firms through initial public offerings after shunning the sector for years. Fourteen biotech companies have gone public this year, the industry's fastest start since 2007. Biotech IPOs have posted an average return of about 20% this year compared with 16% for all industries. "The market for biotech isn't screaming hot, and it's not like everyone can get deals done, but we're seeing attractive returns being generated," said Bob Carey of JMP Securities.

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