The Insight: Conversations – Walking into the Unknown with Howard Marks, David Rosenberg, and Aman Kumar
The Memo by Howard Marks
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Life Sciences Public Equity Market Volatility
This chapter discusses the significant shifts in the life sciences public equity market over the last few years, with a focus on the recent weakness in biotech valuations. It explores the reasons behind this weakness, including changes in spending trends, the regulatory environment, the SPAC market, and rising interest rates. The chapter also explores the impact of market weakness on non-dilutive financing opportunities and the slowdown in M&A activity in the biotech sector.
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