Jazz's audacious IPO
Jazz Pharmaceuticals, a Palo Alto, Calif. drug company that launched four years ago, and raised an eye-popping $250 million to buy existing drug products from other companies, has just upgraded its IPO plans to raise up to $179 million.
Talk about financial engineering. David Hamilton has the latest, over at VentureBeat Life Sciences.
It had a $78 million operating loss last year, and continues to burn cash at a prodigious rate — $19.4 million in the first quarter alone. As of March 31, Jazz had racked up cumulative net losses of $213.4 million.
But when the stock market is hot, it’s best not to wait.
Next Story: Fabrik raises $24.9M more for file storage and sharing
Previous Story: Jazz Pharmaceuticals shoots for $179M IPO with me-too drugs
About the Author, Matt Marshall
Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.
