Seeking bright spots in 4Q19 amid continued underperformance
As 2020 election looms, biotech watchers keep focus on company milestones in 4Q
Biotech watchers are hoping a busy fourth quarter of data readouts, regulatory actions and IPOs will provide some bright spots to counteract the sector’s continued overall underperformance, which is not expected to improve in 2020.
Most investors and analysts interviewed by BioCentury cited the 2020 presidential election as the largest overhang on the sector, with drug pricing and reimbursement emerging as one of the hottest topics of the campaign season. This has biotechs in the IPO queue rushing to get out before the rhetoric ratchets up further (see “Biotechs Likely to Flood IPO Market”).
“The debate is so far-reaching, the implications are so far-reaching, like never before. That’s the reality we face,” said WBB Securities’ Stephen Brozak.
In the meantime, biotech investors and analysts will have plenty of clinical and regulatory milestones to focus on in 4Q, beyond the predicted spike in IPOs.
As is typical of the fourth quarter, data from the American Society of Hematology (ASH) annual meeting in December is at