Susan L-J Dickinson | May 26, 1991 | 7 min read
As more companies prove themselves with products and profits, biotech stocks continue to surge Early last month, three-year-old Regeneron Pharmaceuticals Inc. shook the business world by raising $99 million--nearly double what the company had originally planned to raise--in its initial public stock offering. The deal was remarkable for two reasons. The amount of money raised in this IPO was second in the biotech community only to that of Cetus Corp., of Emeryville, Calif., which raised $115 mi