BioCentury
ARTICLE | Finance

Late-stage investors see opportunity in the bear market

Crossover rounds may be less attractive, but undervalued small-caps, early-stage deals offer prime hunting ground

February 22, 2022 9:20 PM UTC

As biotech’s bear market bites down on crossover rounds, late-stage investors are redeploying their capital in two different directions: undervalued small-cap public equities in need of cash and early-stage venture. 

Growth VCs and crossover investors see the stark draw down in the public markets as a rare chance to buy into high-quality companies they perceive as undervalued...