Will Last Week's Biotech IPO Outperform In a Recession?
Cancer drug developer Oric Pharmaceuticals (NASDAQ: ORIC) successfully raised $120 million in its IPO on Friday, and the stock posted a splashy opening-day gain of 61%. Here are a few reasons why this company was so appealing to investors, even during this time of crisis.
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All too often, we hear stories of cancer patients responding to a therapy only to later learn that the drug stopped working and their cancer returned. Cancers have a track record of developing resistance to treatments using a variety of mechanisms. The name of this company is an acronym for its mission: Overcoming Resistance In Cancer.
Source Fool.com
