Despite a correction at the end of March, all biotech market cap segments finished the first quarter in positive territory. Microcaps set the pace with a 10% gain, while large caps added 7% and were the second best performing group (see "Results by Market Cap").

The correction saw the BioCentury 100 index fall 12% in the two-week period ending March 28. During that stretch, the NASDAQ fell 2%, the Dow Jones gained 2% and the S&P rose 1%.