Biotech’s bull is back — and investors think it can stick

After four-plus years of bear markets for biotech, the bull is back. And unlike prior false starts, investors believe this market has staying power, as sector fundamentals strengthen, the interest rate backdrop eases, and policy risks become less of an immediate overhang.

Collectively, the 15 buyside investors and bankers BioCentury interviewed for its annual Public Markets Preview point to a cohort of late-stage and newly commercial companies poised for substantial value creation and rapid maturation into the next wave of mid- and large-cap biotechs. ...