The batch of companies IPOing in 2019 is the least profitable since the tech bubble, Goldman Sachs f

This year's class of IPOs is expected to be the least profitable of any year since the height of the tech bubble in 1999, according to Goldman Sachs analysts. Only 24% of 2019's newly tradable companies are expected to report positive net income in their first year on the market, compared to 28% in 1999, the peak of the tech boom. Biotech companies make up more than a quarter of the year's IPOs so far, and none of them are expected to reach profitability over the next three years, the...