Recently, I moderated our first quarterly Wall Street Revealed webinar with special guests Grant Miller, Managing Director, Head of Equity Capital Markets, Cowen and Company, and Matthew Perry, Portfolio Manager, BVF Partners, L.P.
While we covered a host of topics related to the webinar’s theme – “A View of the Current Healthcare IPO Market” – one of the meatiest parts of the discussion (and a topic that drew many questions from webinar participants) was on the definition, value and purpose of “test-the-waters” meetings.
These meetings are made possible as an outcome of the JOBS (Jumpstart Our Business Startups) Act, which – according to the Securities and Exchange Commission – permits an emerging growth company to engage in oral or written communications with potential investors that are qualified institutional buyers or institutions that are accredited investors, either prior to or following the date of filing of a registration statement. In short, private companies are now able to meet with potential investors before filing to go public. As Matthew Perry emphasized during our webinar, “I love test-the-waters meetings. Every single CEO, board member and management team should use them to know what their company’s IPO is going to be like well before the IPO is booked and filed.”
How do you balance your investor relations (IR) activities with the other demands on your time as a management team? How can you best align your investor relations efforts with your overall corporate strategy and messaging? Here are several tips to help ensure that the strategic investor relations plan you create at the beginning of the year will deliver the desired results:
- Define your goals. In order to be successful you must identify the outcomes you want to achieve. Decide if you are trying to increase your visibility, broaden your shareholder base and/or increase sell-side coverage. Be specific with your goals and create metrics that you can use to evaluate your effectiveness.
- Allocate your time. As a senior executive of a life sciences, medical technology or healthcare services company, you have many demands on your time. Ask yourself, “How much time can I afford to devote to investor relations?” While being visible is important, you don’t want to be overexposed. Your shareholders, the Street and your employees want to know that you spend more time managing your business than worrying about your stock price. Continue Reading
“An investment in knowledge pays the best interest” – Benjamin Franklin
Welcome to the new blog of Westwicke, the largest healthcare-focused investor relations and capital markets advisory firm in the country. Here, we’ll be sharing wisdom, insights and knowledge about all aspects of investor relations (IR) and the capital markets with a specific emphasis on what’s important for CEOs, CFOs and IROs at life sciences, medical technology, and healthcare services/HCIT companies.
Who we are
All of the members of the Westwicke team who will be penning posts are seasoned Wall Street experts: former sell-side research analysts, buy-side analysts and portfolio managers, investment bankers, institutional salespeople, and equity capital markets professionals. We’ll be sharing our views based on our collective 200 years of Wall Street experience, a deep knowledge of the healthcare industry, and a history of successful strategic partnership with our clients.