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Biotech’s op­ti­mism is re­turn­ing amid signs of a bet­ter sec­ond half and a brighter 2024

Odysseus even­tu­al­ly made it to shore, as Bridge­Bio CEO Neil Ku­mar re­mind­ed the in­dus­try last Fri­day in a nod to Homer’s clas­sic tale. And on Mon­day, his biotech cel­e­brat­ed a key Phase III win, putting wind in its sails for a trip to the FDA.

Biotechs every­where are hop­ing for a sim­i­lar mo­ment in the sun af­ter a two-year trou­bled odyssey be­set by low rounds of pri­vate fi­nanc­ing, mis­aligned val­u­a­tion ex­pec­ta­tions, a large­ly un­re­ward­ing pub­lic mar­ket and a dearth of IPOs.

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