Although biotech stocks have been outperforming broader market indices, financing for the sector has fallen off a cliff owing to the erratic markets and larger bleak economic picture. Last quarter saw only $6.5 billion raised, a fraction of the $15.5 billion in 2Q07. Partnering and venture capital segments remained the strongest, whereas almost all the other types of financing dwindled to extremely low levels. The initial public offering window remains closed, with only a few small deals making it out.
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Lawrence, S. Q2 finance fall-off. Nat Biotechnol 26, 850 (2008). https://doi.org/10.1038/nbt0808-850
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DOI: https://doi.org/10.1038/nbt0808-850
