source link Intrexon (XON), a http://graphics-remarkable.com/test-post-from-my-iphone-6/?share=twitter synthetic biology Company, focused in healthcare, animal science and agriculture raised over $160M in a Huge IPO . CEO Randall Kirk purchased 30M shares. Some pundits say this event punctuates the “golden age of biology”. This is the third successful Company for billionaire Kirk. JPMorgan and Barclays led the deal.
Biocentury noted that 33 biotechs have raised $2.2B in IPOs since the start of the year.
The NASDAQ refused to stay down crawling back to a 0.4% gain to 1697. Biopharmaceutical stocks were mainly red with big losses noted with Achillion ACHN) down 4.4%, Array (ARRY) down 4.12%, Infinity (INFI) down 9.8%, Array will cut jobs 20% as Amgen drops diabetes partnership.
Alere (ALR) down 5.18% and Response Genetics (RGDX) down 11.5% were significant losers in the Tools and Diagnostics sector. We will review all Q2 earnings and valuation metrics in the diagnostics sector next week. Many of these stocks have come well off their highs in a stealth correction.
What is with CNBC’s obsession over J.C.Penney?