Although private financing and overall funding remain relatively stable, investor interest in biotech is a shadow of a year ago, when the initial public offering (IPO) market had just come off the best two quarters of this window. The BioCentury 100 Index has fallen by a little more than 10%, and the NASDAQ Biotechnology Index has receded by almost 15%. Public offerings and follow-on financing have dwindled from the high early last year, even with a robust IPO market in Europe.
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Lawrence, S. Enthusiasm cools in Q2. Nat Biotechnol 23, 914 (2005). https://doi.org/10.1038/nbt0805-914
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DOI: https://doi.org/10.1038/nbt0805-914