Financings for public biotechs returned to levels not seen in over two years. Excluding partnership funding, publicly traded companies raised $5.9 billion in the third quarter. This is also the first quarter since the end of 2008 that money was raised through an initial public offering. Venture financing stayed level at about $1.2 billion. Overall biotech indices underperformed compared with the Dow Jones and S&P 500.
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Yang, W. Biotech strikes back in Q3. Nat Biotechnol 27, 973 (2009). https://doi.org/10.1038/nbt1109-973
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DOI: https://doi.org/10.1038/nbt1109-973