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  • Jonathan Poyer

The 2024 Biotech Set-up - Consolidating Gains and Developmental Stage Acquisitions

Updated: Apr 11

The S&P Select Biotech Index seems to be consolidating gains following the "fed pivot" rally that propelled the index from deep red to green for 2023.

Following half a decade of consecutive outperformance from 2011-2015, biotech has underperformed the Nasdaq from 2016-2023 for 8 years and the S&P 500 for 5 of those 8 years. Expectations for lower interest rates in 2024, sustained biotech M&A activity, continued new approvals of cutting-edge new therapies and resurgent capital markets activity appear to be converging to reverse biotech’s record relative underperformance.

Topics of conversation in the video:

  • Developmental stage companies

  • Follow-on flows and secondary investing

  • Cerevel Therapeutics (CERE)

  • Karuna Therapeutics (KRTX)

  • 2024 Set-up

  • IPOs (Finally)

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