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Monday, March 10, 2014 2:38:25 AM
http://venturebeat.com/2008/02/20/bioheart-a-new-record-for-ipo-futility/
http://www.fiercebiotech.com/story/spotlight-bioheart-stumbles-out-of-the-ipo-gate/2008-02-20
http://dealbook.nytimes.com/2007/10/15/bioheart-cuts-ipo-price/?_php=true&_type=blogs&_r=0
That one's a good one- wanted $46 mil, then $20 something mil, then ended up "net" about $1.5 mil. Not a good IPO, probably one of the worst ever. There's a site that lists the biggest IPO busts- I can find it, and BHRT is right there in the running.
Here it made the BOTTOM of the IPO list for 2008
http://www.marketfolly.com/2009/01/how-some-2008-ipos-fared.html
Here's another list- even though 2008 was a "tough" yr for IPOS, still, most raised at least $100 MILLION or more. BHRT, raised about $5 MILLION with only about $1.5 MILLION net- and that was AFTER Howard L. picked up some of the shares himself- it would have been even worse. Again, this list puts BHRT as the worst performer.
http://www.tradersnarrative.com/severe-ipo-drought-is-actually-extremely-bullish-1635.html
I could list more info. But your question was why did they go "public" in 08 when one of their key patents was expiring? I don't know- you tell me? Maybe that's part of why their IPO was pretty much a total bust. Your premise and that of the other poster that somehow PATENTS DO NOT MATTER or that patents in one field (google or amazon for instance) are "different" than biologic/pharma patents, is in my opinion ludicrous. A PATENT is a PATENT- and ALL bio-tech and pharma companies pursue them VIGOROUSLY FOR A REASON and then defend them to the ends of the earth for the same reason- patents = MONEY. Why do you think drug companies panic when a big seller is about to come "off patent" and go generic, if as according to your "theory" those pesky patents don't mean much anyway? You make no sense with your "theories". Many companies that went "public" - are actually even taken back "private" as they realize public is a mistake. It's actually very in vogue and popular to do now days. DELL was just taken private. Best Buy is considering it. Seagate at one point was taken private and then re-tooled and went public again later- the biggest maker of disc drives in the world. I can name dozens more. Why did BHRT go "public"? I HAVE NO IDEA.
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