Biotech stocks stormed back with the rest of the markets last quarter. Although funding for public biotechs was $9.1 billion, up 55% from the same quarter last year, this figure was largely the result of debt deals completed by Amgen, Gilead and Valeant. For the sector as a whole, equity financings for public biotechs were the lowest since the depths of the economic meltdown in Q408, when the industry raised only $270.6 million. Private financing remains buoyant (above $1 billion).
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Yang, W. Biotech rallies in Q3. Nat Biotechnol 28, 1144 (2010). https://doi.org/10.1038/nbt1110-1144
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DOI: https://doi.org/10.1038/nbt1110-1144
