Three Israeli Biomed Companies See Share Price Drop After NASDAQ IPO

August 4, 2014 | According to “Globes,” following their NASDAQ IPO’s, three Israeli biomed companies saw the value of their shares drop sharply. BioBlast‘s share lost 38 percent of its value, Macrocure‘s 25 percent and VBL Therapeutics 18 percent. The drop in prices corresponds to three percent dip in the NASDAQ biotechnology index last Thursday and Friday. VBL Therapeutics, a company developing breakthrough drugs for infectious diseases and cancer, raised $65 million at $12 a share, which dropped to $9.88 a share by the end of Friday. Macrocure, a company developing treatments for wounds, raised $53 million at $10 a share, but the share price dropped 25 percent down to $7.49 a share. BioBlast Pharma, a developer of drugs for rare diseases, saw shares valued at $11 a piece drop to $6.90, a 38 percent drop.