BioCentury
ARTICLE | Finance

Hunker down

January 6, 2003 8:00 AM UTC

Forget 2003. This is a year simply to be gotten through. This gloomy view is the product of the lack of a visible offerings window and the pain of 2002, when all the good things were supposed to happen, but didn't.

Indeed, with the group trailing even the pummeled tech plays in the NASDAQ composite in 2002, the meltdown from the ridiculous valuations of 2000 looks to be complete. A sobering number of the sector's public companies now are huddled below $50 million in market cap while the bulk of the industry's total value is in the hands of the top tier names (see "4Q Wrap-Up," A9 & "Upstairs, Downstairs," A2). ...