This week in biotech was all about the wisdom of the crowds:
The crowd comprising Canada’s Natural Resources Committee, including Conservative MPs, say Canada should consider a new reactor to replace the Chalk River facility in order to maintain our domestic capability to produce isotopes for medical imaging and treatment.
The crowd of VenGrowth investors spoke clearly in favour of the funds’ deal with Covington, approving the transaction by a wide margin on 4 of the 5 votes, according to the Financial Post.
The crowd of recent biotech IPOs, however, is telling us that we are still in a challenging environment for the public markets. Anacor, Zealand and Zogenix all faced tough IPO headwinds, lowering their prices, or offering sizes, or both. Everyone in biotech knows in their heart that they are the exception to the rule, though, so this week’s bad news didn’t stop a series of filings for new IPOs by Clarus, Tranzyme and Acelrys, according to biotech IR maven Lilian Stern.