Wednesday, May 15, 2019
Bicycle Therapeutics is going public
FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
This is impressively boring. The main point is this, Bicycle Therapeutics is filing an IPO for 4.3 million shares at ~$15 per share which puts their estimate of company value at ~$214.5M.
The obvious benefits of IPOs is the infusion of a significant amount of cash. But there is nothing free, and this is no exception. Now the team will be beholden to a board of directors, quarterly reports, and public scrutiny of their finances.
Is it a good idea to file your IPO before demonstrating profitability? It worked for Amazon, and none of the investors in Uber are too upset right now. But the pharma industry is not the tech industry. Growth and success come hard, and only after a lot of work.
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