We just had a string of successful biotech IPOs. Now what?

When CG On­col­o­gy’s $CGON IPO hit a few weeks ago, its suc­cess with in­vestors star­tled a wide swathe of biotech watch­ers who had grown ac­cus­tomed to the frigid mar­ket tem­per­a­tures that char­ac­ter­ize a biotech win­ter. CG’s out­ing was a clear home run, pric­ing in at $19 — over the range — with sub­stan­tial de­mand and a sub­se­quent spike push­ing the price to $45 this week.

Ar­riVent $AVBP  — an­oth­er Phase III on­col­o­gy play — came right on its heels, pric­ing at $18, now about $22.

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