Biotech IPO market sealed shut for the foreseeable future: report

Biotechs have been trying to buck the trend of a bearish market with a series of IPOs in recent months, but as the COVID-19 pandemic takes hold in the West, it looks like that closing window will be slammed shut.

That’s according to IPO firm Renaissance Capital, which reported: “Volatility is at its highest level since the 2008 financial crisis, effectively shutting down the IPO market. Based on previous periods of high volatility, it will take at least one month after the market settles for IPO activity to resume.