A pair of analysts has taken a cautious attitude toward Aldagen's plans for an $80 million IPO. The stem-cell company has no products on the market, makes no profit and is attempting to pioneer an FDA approval in an emerging field. None of that exactly breeds confidence, especially given the arctic chill that has afflicted biotech IPOs recently.
"These are the worst capital markets for biotech in the last five years," says Steve Brozak, an analyst at WBB Securities. "Their technology is good, but it's a tough equity market."
- read the report from the New York Times