BioCentury
ARTICLE | Finance

Tiers of disappointment

Bad year for biotech ends on sour note in 4Q16 with all market cap tiers in red

January 6, 2017 10:20 PM UTC

A bad year for biotech was closed with an even worse 4Q16 as volatility ahead of the U.S. elections and continued concerns around drug pricing held every market cap band in the red despite a brief rally post-election.

Large cap biotechs fared best in 4Q16, posting a loss of 6.2%. Large cap gainers during 4Q were led by Tesaro Inc., which graduated to the top tier in 3Q16. The oncology play gained 34% as it continued to deliver positive clinical and regulatory news. Additional data reported from the Phase III NOVA trial of niraparib could support a broad label for the PARP inhibitor in ovarian cancer, and the company completed regulatory submissions to both FDA and EMA. ...