Small biotechs in survival mode as market rebound further delayed

To many small biotech companies, the spring of 2023 still feels like winter. An unfavorable macroeconomic environment continues to dominate sentiment toward the sector and cash reserves are running low. More belt tightening is plan A.

The U.S. banking crisis added insult to injury, further pushing out a long-awaited biotech recovery and adding to concerns of a possible recession. ...