Biotech Values

[DewDiligence]

The array of biotech offerings announced Tuesday was a record of sorts:

http://www.wsj.com/articles/overheard-1452139732

Biotech stocks notched a record on Tuesday—just not the kind that investors necessarily wanted to witness. Eight biotech companies announced plans to issue shares via secondary offerings. This marked a new single-day record for deals even if not for total dollars sought, according to Dealogic. Combined, the companies are set to raise proceeds of nearly $1.2 billion

…investor reaction to the spate of deals was sharply negative: All eight companies traded lower early Wednesday [before the discounted offering prices were even announced]…