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Calistoga and Plexxikon: Gone in The Blink Of An Eye

I discussed the merits of these company’s in a short post back in June last year (Calistoga Pharmaceuticals and Plexxikon- Two Biotechs to Keep an Eye On). I had hoped to see them become public companies because I saw promise in their technologies and wanted to participate in their upside.
Too late. Both have recently been acquired. Plexxikon by Daiichi Sankyo on February 28 for a lofty $805 million up front with another $130 million in milestones, and Calistoga only a week earlier by Gilead for $375 million down and $225 million in future milestones. As for the price difference, Plexxikon has a compound close to approval while Calistoga’s promising candidate is only in Phase II.
How I would have savored the opportunity to invest in these companies.
Investing in public biotechs is now generally a choice of two dichotomies- either go the path of relatively safe mid-cap stocks, or take your chance with a slew of micro caps. There is little in between.  
A return of IPOs are needed to bring back quality small cap investment opportunities.