The biotech index reached an 18-month high in the second quarter, although it remains far from its 2015 heights. Funding overall was down, and biotechs raised a total of $22.3 billion. Public offerings staged a comeback in 2Q after several sluggish quarters. After only three biotechs floated in 1Q, this quarter witnessed 18 initial public offerings (IPOs) and $1.1 billion raised. Venture capital funding for startups continues its retreat.
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DeFrancesco, L., Huggett, B. 2Q17—Biotech stages a recovery. Nat Biotechnol 35, 812 (2017). https://doi.org/10.1038/nbt.3949
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DOI: https://doi.org/10.1038/nbt.3949