This is it — what an exciting year looks like. You get a strong first few quarters, summer hurtles into autumn, and chances are great the life-science-sector momentum will keep right on going.

Already by the beginning of July, with 68 life-science IPOs and $4.7 billion raised, we’d blown past the IPOs from the entire previous year. Definitely the strongest showing since the recession. The best part? 51 of those IPOs were for biotechs developing innovative therapies.

Of course, there are sober voices in the chorus. Life sciences investme...

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