- Any serious student of the market knows that the performance of initial public offerings is a very reliable indicator of investor sentiment, both for the market in general and the respective sector in particular. Considering the medical sector's travails, the performance of recent biotech IPOs is following the script precisely.
- Novocure (NVCR -14.4%) debuted on October 2 at $22. Trading today at $15.50, down 30%. The original range was $26 - 29.
- REGENXBIO (RGNX -4.6%) debuted on September 17 at $22. Trading today at $21, down 5%, but up from the original range of $17 - 19.
- Nabriva Therapeutics (NBRV +2.5%) debuted on September 18 at $10.25. Trading today at $10.00, down 2%.
- Mirna Therapeutics (MIRN -0.7%) debuted on October 1 at $7. Trading today at about the same price, although the original range was $13 - 15.
- Edge Therapeutics (EDGE -3.4%) debuted on October 1 at $11. Trading today at $18, up 64%. The original range was $14 - 16.