Monday, September 19, 1994
Signs of life continue to stir in the biotech markets. As measured by the BioCentury
100 Price Level, the sector still is down about 19 percent for the year. But
in last eight weeks, the BC100 has climbed 13.5 percent.
In particular, we were impressed by the energy level in the conference rooms
and halls last week at NewsMakers in the Biotech Industry, the third
Wall Street biotech investment conference we have organized with The Carson
Group this year. The sense of renewed interest among investors and sellside
analysts was palpable, if not downright enthusiastic. And while the numbers
aren't yet completely calculated, The Carson Group's snap tally indicates that
the dollar volume of Tier II and III stocks held by the portfolios in attendance
was not trivial.