Despite relative stability in biotech stocks, financing was well below the totals racked up in recent quarters. It declined from the record high of $16.7 billion in the first quarter to drop off by >40% to $7 billion. Overall, however, the financing total through the third quarter ($36 billion) almost reached that for all of 2005 ($37 billion). Partnership and venture capital were the only categories that did not decline; although several biotech IPOs were filed in the first half of the year, only a handful of firms went public in the third quarter.
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Lawrence, S. Financing flees in Q3. Nat Biotechnol 24, 1312 (2006). https://doi.org/10.1038/nbt1106-1312
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DOI: https://doi.org/10.1038/nbt1106-1312
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