Why dwarfism start-up Therachon picked Pfizer takeout over IPO

Rather than file for an IPO as it had been planning to do, Therachon has elected to take a buyout offer from Pfizer, handing the pharma a clinical program to treat achondroplasia. Pfizer will pay $340 million up front for the biotech; its shareholders are eligible for $470 million in milestones.