With the expectations of lower interest rates, this will hopefully be a tailwind for Biotech although there could be some volatility between now and rate cuts and the 2024 US Elections. Beyond the Gilead acquisition of Cymabay for $4.3 Billion, MorphoSys AG and Cytokinetics have had a very interesting past 3 months. When pharma is willing to step in front of a controversial situation like MorphoSys, we consider this to be bullish, generally
Week Ending February 16th, 2024:
Biotech: 8 Transactions (5 Follow-Ons, 2 PIPEs, and 1 Registered Direct) totaling just under $2 Billion
Med Tech: No Current Week Transactions
2024 YTD:
54 Biotech transactions totaling just over $10 Billion v. 2023 YTD: 23 Biotech transactions totaling just over $2 Billion
2 Med Tech transactions totaling just under $200 Million v. 2023 YTD: 5 Med Tech transactions totaling just over $400 Million
Private Transactions:
Biotech: 31 US Transactions / 12 European Transactions
Med Tech: 23 US Transactions / 7 European Transactions