Delisting biotechs take AIM at U.K. exchange

The imminent departure of a trio of biotechs from London’s AIM market is the most recent reminder that the exchange isn’t fit to fund development-stage biotechs.

According to the CEOs of two of the companies, AIM’s lack of liquidity, analyst coverage and specialist knowledge among the exchange’s institutional investors has led each company to conclude that they can raise more money to advance their pipelines as private companies than they could as listed entities...