The third quarter saw a continuation of recent trends in biotech financing. There was a constant stream of IPOs (except in Europe) and venture capitalists continue to invest more into fewer companies. Valuations of IPOs remain high, even though six of the top ten companies that went public in the quarter have no data. The biotech NASDAQ index held its own compared to the other indices. The sector in Asia continues to grow, but with the vaccine scandal and growing tension due to tariffs, it displayed some volatility.

Stock market performance

Global biotech initial public offerings