I get that biotech stocks are in demand but a lot of what you're witnessing today with the IPOs is funds chasing performance. It will be very interesting to see if these new stocks can sustain their outperformance after lock-ups expire and the frenzied buying dies down.
A lot of good biotech companies are taking advantage of this wide-open window to come public. No doubt. But be warned that there are some crappy companies in the mix, too. The good and the bad are jumbled together now and hard to differentiate, but that will change over the next six months to a year.
-- Reported by Adam Feuerstein in Boston.
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