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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