The success of the biotech initial public offering market is a boom and not just a bubble, and the surge is supported not by speculation but by strong results, particularly from larger firms, said Dave Thomas, BIO’s director of industry research and programs, at the BIO Investor Forum in San Francisco. “If it was a bubble, the smallest companies, and the riskiest, would be outperforming. This is not the type of behavior you’d see in a bubble,” Thomas said.
More on BioWorld