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Prospect created surprise and unease when it released its LPs from $150 million in commitments for a new fund. The question is whether the decision turns out to be the canary in the coal mine for life science VCs.
Published on 10/10/2011
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Even the best fundamentals may not be able to overcome the economy's effects on biotech stocks in 4Q. With little hope of major gains, specialists are using price weakness to strengthen portfolios.
Published on 10/3/2011
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3Q was ugly across the board, with all market cap segments in deep or deeper double-digit downturns. But a few biotechs managed big wins.
Published on 10/3/2011
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Investors are looking for strong data from a handful of compounds to drive their returns in 4Q.
Published on 10/3/2011
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Cost averaging down Healthcare/biotech fund flows More than $2.3 billion exited healthcare/biotech funds in August. Disclosure by Dendreon Corp. (NASDAQ:DNDN) of slow Provenge sipuleucel-T sales along with the U.S. …
Published on 10/3/2011
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Cost averaging down Perfect storm The convergence of U.S. debt ceiling deadline and the news of less uptake of Provenge sipuleucel-T from Dendreon Corp. (NASDAQ:DNDN) led the BioCentury 100 index to fall 13% in the …
Published on 10/3/2011
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Cost averaging down Public biotech funding In 3Q11, public biotechs raised $2.8 billion. While this is the lowest quarterly amount since 4Q08, the strong first half still puts the year's cumulative tally at $23.5 …
Published on 10/3/2011
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Cost averaging down Follow-on performance Biotechs raised $467.3 million in 12 follow-on deals in 3Q11, bringing the year's total to $3.4 billion in 65 deals. This compares to six deals for $276.5 million in 3Q10 …
Published on 10/3/2011
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Cost averaging down IPO performance Three biotechs raised $213.6 million through IPOs in 3Q11. Year-to-date, 14 companies have raised $727.7 million. This compares to five companies that raised $230.7 million in …
Published on 10/3/2011
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Cost averaging down IPO queue Four biotech companies proposed IPOs in 3Q11, bringing the total in the queue to at least 12. Unless noted, the company is seeking to list on NASDAQ. (A) Used midpoint of price range to…
Published on 10/3/2011
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Few Cinderellas this time London vs Europe The BioCentury London was off 6% in 3Q11. The market-cap weighted index was held afloat by a 43% boost in the valuation of Axis-Shield plc (LSE:ASD; OSE:ASD) and an 8% …
Published on 10/3/2011
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Few Cinderellas this time Price-to-earnings: BT vs RX Biotech's average P/E has risen to 15.6 from 12.9 a year ago, while big pharma's multiple has remained at around 10. Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) …
Published on 10/3/2011
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Few Cinderellas this time Results by market cap All market cap segments of biotech are down this year, with the exception of top tier companies valued >$5 billion. The large cap group is up 5%, led by Alexion …
Published on 10/3/2011
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Few Cinderellas this time 3Q approvals Selected third quarter product approvals. Company Approval Alexion Pharmaceuticals Inc. (NASDAQ:ALXN) FDA approves Soliris eculizumab to treat atypical hemolytic uremic …
Published on 10/3/2011
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Few Cinderellas this time Index performance The BioCentury 100, a price-weighted index comprised of the 100 largest U.S.-listed biotechs, fell 17%, with decliners beating advancers 86-14. Dendreon Corp. (NASDAQ:DNDN…
Published on 10/3/2011
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Few Cinderellas this time Restructuring watch At least 13 companies reduced their workforces during the quarter, compared to at least 11 in the same period last year. (A) Six-month net loss at June 30; (B) Nine-…
Published on 10/3/2011
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When Dendreon withdrew its sales projections for Provenge in August, it was a watershed moment for biotech launch stories. Going into 4Q, investors are still sorting out their bets.
Published on 10/3/2011
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Launches stratified Launch performance The Post-Approval Index, a benchmark for biotechs launching their first or second product, fell by 58% between Dec. 31, 2009, and Sept. 30, 2011. The index accrues companies …
Published on 10/3/2011
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Value verification 4Q11 milestones Selected products with Phase III or regulatory milestones expected in 4Q11. (A) Subcutaneous Herceptin trastuzumab uses Enhanze recombinant human hyaluronidase (rHuPH20) drug …
Published on 10/3/2011
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Orexigen's Contrave has new life, as a formal appeal to upper echelons at FDA coincided with congressional pressure on the agency to do something about obesity. Whatever the reasons, FDA now has cut deals that will give…
Published on 9/26/2011
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Pfizer's Xalkori blazes a trail for other ultra-targeted compounds, but it will be hard to match its speed to market, as the pharma was in the right place at the right time, and adapted to new science quickly.
Published on 9/19/2011
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Biodefense report card BARDA bioterror pipeline The Biomedical Advanced Research and Development Authority (BARDA) is responsible for the U.S. government's procurement and advanced development of medical …
Published on 9/12/2011
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Biodefense report card U.S. bioterror stockpile The U.S. government has invested more than $3 billion to stockpile medical countermeasures against bioterrorism since 2001. The largest single acquisition has been of …
Published on 9/12/2011
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Ten years and $20 billion after 9/11 and the anthrax attacks, the U.S. has created a few new biodefense countermeasures, but nothing for most of the pathogens that top the government's threat lists.
Published on 9/12/2011
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Thoughts on open innovation, globalization, the industry's division of labor, and more. By Marc Boutin, Francis Collins, Michel Goldman, Margaret Hamburg, Kiran Mazumdar-Shaw, Atsushi Nagahisa, Xianodong Wang, et al.
Published on 9/5/2011