The coronavirus pandemic wiped billions from global drug stock valuations in the first quarter, with the few gainers failing to offset huge losses elsewhere.
Investors are homing in on biopharma companies able to make real contributions to the coronavirus pandemic, but market frothiness is far from over.
Antivirals, anti-interleukins and vaccines take centre stage in clinical trial efforts to tackle the coronavirus pandemic.
Coronavirus-focused investors have willingly backed bona fide development and egregious publicity stunts alike.
A stock market rebound created a strong finish for biopharma flotations in 2019, with four $100m-plus floats, led by Phathom Pharmaceuticals.
A big valuation at float is no guarantee of ongoing investor support, as a look at the sector’s biggest IPOs reveals.
Only seven drug developers managed to float on Western exchanges in the third quarter, and new issues in October have struggled, with Biontech the latest example.
In terms of venture financing, activity in 2017 outpaced that at the height of the biotech boom in 2015, with 68 biotechs attracted rounds of $50m or more.