@article {Morgan9, author = {Irvin W. Morgan, Jr and Pier A. Abetti}, title = {Private and Public {\textquotedblleft}Cradle to Maturity{\textquotedblright} Financing Patterns of U.S. Biotech Ventures (1970{\textendash}2001)}, volume = {7}, number = {2}, pages = {9--25}, year = {2004}, doi = {10.3905/jpe.2004.391047}, publisher = {Institutional Investor Journals Umbrella}, abstract = {Since 1970, U.S. biotech firms have raised over $141 billion in private and public financings. All types of financings in the 1970{\textendash}2001 timeframe are investigated from {\textquotedblleft}cradle to maturity,{\textquotedblright} or {\textquotedblleft}cradle to grave.{\textquotedblright} The objectives are to determine: 1) if there are specific financing patterns that result in higher probability of success; 2) the impact of stock performance on management{\textquoteright}s financing decisions; 3) the relationship of biotech hot and cold cycles to general market cycles; 4) the relationship between public and private markets; and 5) the principal determinants of biotech firm survival, including the effect of venture capital.}, issn = {1096-5572}, URL = {https://jpe.pm-research.com/content/7/2/9}, eprint = {https://jpe.pm-research.com/content/7/2/9.full.pdf}, journal = {The Journal of Private Equity (Retired)} }