<code id='4397103A20'></code><style id='4397103A20'></style>
    • <acronym id='4397103A20'></acronym>
      <center id='4397103A20'><center id='4397103A20'><tfoot id='4397103A20'></tfoot></center><abbr id='4397103A20'><dir id='4397103A20'><tfoot id='4397103A20'></tfoot><noframes id='4397103A20'>

    • <optgroup id='4397103A20'><strike id='4397103A20'><sup id='4397103A20'></sup></strike><code id='4397103A20'></code></optgroup>
        1. <b id='4397103A20'><label id='4397103A20'><select id='4397103A20'><dt id='4397103A20'><span id='4397103A20'></span></dt></select></label></b><u id='4397103A20'></u>
          <i id='4397103A20'><strike id='4397103A20'><tt id='4397103A20'><pre id='4397103A20'></pre></tt></strike></i>

          00:00
          00:00 00:00 LIVE
          buffering
          Replay
          LIVE
          00:00 / 00:00
          LIVE
          CC
          Opacity :
          Share:
          Close

          explore

          author:fashion    - browse:867
          Adam's take main illustration
          Molly Ferguson/STAT

          Biotech is awash in PIPEs.

          The numbers behind these privately negotiated purchases of public-company stock are astounding. By my count, there have been 30 PIPE transactions involving public biotechs and institutional investors (mostly hedge funds) that have raised $4 billion in the first two months of the year.

          advertisement

          Just this week, five biotechs have brought in a combined $950 million via PIPEs, including Denali Therapeutics raising $500 million, the largest such financing this year. Crinetics Pharmaceuticals raised $350 million.

          Get unlimited access to award-winning journalism and exclusive events.

          Subscribe Log In

          hotspot