Clovis Oncology steps up to the IPO plate after NewLink bunts

Late last week NewLink Genetics managed to end a lengthy IPO drought and raised $43.4 million in its IPO. Like a long list of biotechs before it, NewLink had wanted to sell shares at $10 to $12 a share but wound up taking $7 for each of the 6.2 million shares sold. Today Boulder, CO-based Clovis Oncology, a well-financed group of cancer drug investors, will see if it can do any better. Clovis had priced its shares at $13 to $15, but faces the same skeptical set of investors that has been quick to discount any drug developer without a reliable revenue stream. Story

Read more on