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Is 3SBio Too Conservative to Move Forward?

Posted on July 02, 2008

In February 2007, the IPO from 3SBio (NSDQ: SSRX) made a big splash on Nasdaq. It was the first of the major China biopharma IPOs, and it was well-received at a time when the IPOs from US-based biopharmas were being met with investors reactions that varied somewhere between lukewarm and downright hostile. In that IPO, 3SBio initially announced a range of $12 to $14, then priced its 7.7 million ADSs at $16 and saw the first open-market print at $17.50. That gave the company a market cap of $370 million. Not bad. ...

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