In fresh IPO's 77 percent fall, another warning sign for biotech investors

Investors were reminded on Monday that biotech investing can be a rollercoaster ride, even in good times, after a 77 percent stock drop by a company that went public 10 weeks ago. Until Monday, Menlo Therapeutics Inc. (NASDAQ: MNLO) had been one of the better performing of this year's IPOs, soaring from a $17 price it set on Jan. 25 to as high as $38.82 on March 28 as it pushed forward on four clinical trials for skin conditions and chronic cough. Investors dumped the Red wood City company's shares…
Source: bizjournals.com Health Care:Physician Practices headlines - Category: American Health Authors: Source Type: news