The S&P Select Biotech Index moved back towards the 50-day moving average as the momentum factor took a pause from driving equity performance.
2 decent sized M&A deals took place this past week:
AstraZeneca acquired Amolyt Pharma for $800M (3/14/2024)
Novartis acquired IFM Due for $90M (3/13/2024)
Capital Market Highlights:
Week Ending 3/8/2024:
Biotech: 10 Transactions (6 Follow-Ons, 3 PIPEs, and 1 RD) totaling just under $2 Billion
Med Tech: No Current Week Transactions
2024 YTD:
83 Biotech transactions totaling just under $16 Billion v 2023 YTD: 34 Biotech transactions totaling just under $4 Billion
3 Med Tech transactions totaling just over $200 Million v 2023 YTD: 6 Med Tech transactions totaling just over
Private Transactions:
Biotech: 46 US Transactions / 16 European Transactions
Med Tech: 24 US Transactions / 11 European Transactions
Comments