The tough economic environment kept other biotech IPO "hopefuls"
grounded on the runway. Several, however, did file for an IPO in order to
get in line and be ready to respond rapidly to complete their IPO when the
-- Bayhill Therapeutics, a clinical stage biopharmaceutical company
developing products to treat autoimmune diseases,
-- CyDex Pharmaceuticals -- a specialty pharmaceutical company focused on
the development and commercialization of drugs specifically designed to
address limitations of current therapies in selected established
-- Omeros -- developing drugs to treat focused inflammation and disorders
of the central nervous system
-- Phenomix, a biopharmaceutical company focused on the development of
novel small-molecule product candidates for treatment of Type 2
diabetes and hepatitis C.
-- Zogenix developing treatments for central nervous system disorders and
The industry's market cap closed at $442 billion, unchanged for March
and down 2% for the quarter. Genentech's market cap closed the month at
$85B -- the company's shares had a very good month (up 15.7%) and quarter
(up 21%). Amgen shares slipped 10% in the quarter with the result that the
company's market cap dropped to $45B. As a result, the company slipped one
place in company rankings by market cap with Gilead Sciences closing the
quarter at $47.8B. Shares of Gilead hit a new 52-week high by month end
following new of strong sales of its HIV drugs Truvada and Atripla.
|SOURCE Burrill & Company|
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