Biotech Hangout
Episode 82
Jan 4, 2024
Biotech Hangout welcomes biotech analysts Josh Schimmer, Tim Opler, Chris Garabedian, Dawn Bell, and guest host Eric Schmidt. They cover topics such as the JPM year in review, XBI performance, Abbvie's acquisition of Cerevel, big GLP-1 deal from Roche and Carmot, AstraZeneca/IRA case, three big investors days from J&J, Sanofi and Neurocrine Biosciences, CVS's drug coverage update, and Eyepoint Pharmaceutical's wet AMD data.
59:50
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Quick takeaways
- Biotech stocks in 2023 had mixed performance with financial updates driving the biggest gains and positive events failing to maintain momentum.
- Macroeconomic factors like inflation and interest rates have influenced the biotech sector, but experts believe these issues are being resolved, indicating bullishness for the industry.
Deep dives
JPM Year in Review and Market Performance
Overall, the performance of biotech stocks in 2023 was relatively flat, with regulatory decisions and clinical readouts showing slightly negative performance and financial updates showing the biggest pop. Positive events did not result in continued momentum, and investors did not anticipate events ahead of time. Big events, such as BD announcements, saw a significant pop after the announcement. However, it is important to note that this analysis is a look back at 2023 and may not reflect historical trends.
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