Biotech companies raised $4.7 billion globally from 68 IPOs during the first half of 2014, and investor appetite will remain strong the rest of the year, said Greg Sarian, Partner at HighTower in Philadelphia. Sarian said there are 41 companies that have publicly filed to complete IPOs in the coming months and there remains a high level of interest in specialty biotech given the ongoing stream of M&A announcements. Furthermore, Sarian said that Federal Reserve Chair Janet Yellen's comment about stretched valuations in biotech stocks can be countered by strong Q2 earnings performances.

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