BioCentury
ARTICLE | Finance

All’s well that ends well

Biotechs across all market cap tiers gained in 4Q19, recovering from 3Q losses

January 4, 2020 2:50 AM UTC

Biotech companies across all market cap tiers posted big gains in the fourth quarter of 2019, with median changes ranging from 7-18%. 4Q19 growth was enough to erase prior quarter losses, putting all tiers in the black for the full year.

All companies with starting valuations over $10 billion were up in 4Q19, gaining a median of 13% in 4Q19 and 10% in 2019 overall. The group added $105.3 billion in total value in the quarter. The biggest move was 35% by Regeneron Pharmaceuticals Inc. (NASDAQ:REGN), which gained steadily throughout the quarter, posting its highest volume on Nov. 5 after reporting 3Q19 earnings above estimates, a planned $1 billion share buyback, and positive interim Phase III data for Libtayo cemiplimab-rwlc to treat first-line non-small cell lung cancer...