What ever happened to biotech’s big comeback? Allison DeAngelis Damian Garde By Allison DeAngelis and Damian Garde Sept. 25, 2023

https://www.statnews.com/2023/09/25/biotech-stock-comeback/?utm_campaign=morning_rounds&utm_medium=email&_hsmi=275436977&_hsenc=p2ANqtz-_UdRg6s0_hm08dHcn63_pQEya6yfUTbNsBFFwYTh6yFkYLNE0edsDZ5iHPDL2N8nJRuOMR7G9xEb7_EbRyR5jE9OcySA&utm_content=275436977&utm_source=hs_email After a couple bruising years on Wall Street, 2023 was supposed to bring about a recovery for the biotech industry. Instead, a closely watched biotech stock index has fallen about 10% for the year, dramatically underperforming the broader market and making it that much more difficult for cash-strapped companies to finance their science. But there’s reason to believe the worst is over, STAT’s Allison DeAngelis and Damian Garde report. In just the last two weeks, two biotech companies successfully went public, and on Wednesday, the Federal Reserve projected that interest rates will drop next year, welcome news for a sector that had fallen out of favor with risk-averse investors. Venture capitalists are increasingly confident the market will support initial public offerings for biotech companies, and executives are dusting off their long-shelved IPO paperwork. Read more.