On NPR Station, Patrick O’Brien Discusses the Effect of the Partial Government Shutdown on Biotech IPOs
In a recent segment on WBUR, Boston’s NPR radio, co-head of Ropes & Gray’s securities & public companies practice Patrick O’Brien discussed the effect of the partial government shutdown on biotech IPOs. The shutdown, he says, is causing a freeze in the biotech IPO pipeline.
In the booming biotech industry, Mr. O’Brien routinely counsels companies through the IPO process. In the interview, he commented that because the Securities and Exchange Commission has suspended normal functions during the shutdown, biotech firms are not starting road shows.
“At the end of the road show, the SEC has to actually do something — that is declare the registration statement effective,” he said. “And, since they're not open for business to do that, you can't actually complete your IPO.”
To listen to the full segment, please click here.