IPO window shuts for two Massachusetts biotech companies



IPO window shuts for two Massachusetts biotech companies

Ten Massachusetts biotech companies have gone public so far in 2014, a record number for any one year. But the next two contenders in line— who were expected to complete initial public offerings this week — did not make it through the IPO window amid an apparent glut of biotech IPO supply nationally.

In Massachusetts, IPOs had been expected this week from Syndax Pharmaceuticals Inc., a Waltham cancer drug firm, and Minerva Neurosciences Inc., a Cambridge developer of treatments for central nervous system diseases. Syndax has postponed its offering, according to Renaissance Capital. Minerva has made no announcement, and declined to comment through a spokesman this morning. Minerva is now expected to complete its IPO next week, Renaissance Capital said in its IPO calendar email.

Renaissance Capital had forecast that seven US biotechnology companies were slated for IPOs this week, but only one, Amphastar Pharmaceuticals of California, has reported going public in an offering that saw shares price below the intended range.

IPO seekers in the tech sector did not have the same issues. Completed IPOs this week included wearable camera maker GoPro, 3D software maker Materialise, and Lexington-based IT security firm Imprivata.


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