I

f you bought a single share of AnaptysBio when it went public, you’d have more than quintupled your money by now. If you did the same with Zymeworks at its IPO, you’d be out five bucks.

Those were the respective best and worst performers among 2017’s 40 biotech IPOs. As of late December, the class is doing well across the board, with an average return of more than 40 percent. Remove the outliers — like AnaptysBio’s 528 percent gain and Argenx’s 240 percent jump — and the median 2017 IPO is up about 12 percent.

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