Will some pent-up deal pressure amp up a biotech rally?
Over the last 6 weeks we’ve seen the Nasdaq biotech index surge 21%, an early-stage company just upsized its IPO and stuck to the range, secondary offerings are doing better and a whole slate of big biotechs and pharmas have made it plain that they’re hunting for significant new deals before the end of this year.
It’s the kind of environment that has perennial enthusiasts cheering a rally that the industry hopes has legs needed to continue past the dog days of summer. And it has some big implications for the deal teams bartering over biotech assets.
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