Another IPO Flop
T2 Biosystems (NASDAQ:TTOO) is a classic IPO flop. At its Aug-2014 IPO, the medical diagnostic company offered 5.2 million shares with a price tag of $11.00/share. The $57.2 million it raised was 28% of its accumulated $203.7 million loss as of December 31, 2016.
After its IPO, market enthusiasm took TTOO through a roller-coaster ride until a year later, August 2015, the stock was back to the beginning: it traded at $11/share. Sadly for investors who participated in its IPO and failed to exit in time, it now trades around $5.3, a painful 52% loss.
