The steadily growing importance of small and mid-cap biotech companies with innovative product pipelines has not yet been fully acknowledged by financial markets.
Many investors think biotech is not a particularly attractive place to be at the moment. The Nasdaq Biotechnology index, the bellwether index for the biotechnology industry, has fallen nearly 20% over the past 12 months. Although a few sector heavyweights such as Moderna or Regeneron have made considerable gains, most small and mid-cap biotech stocks are trading sharply lower than they were a year ago. This trend is reflected in the 40% drop in the value of the S-Network Medical Breakthroughs index (PMBI) and the S-Network Healthcare Innovation index (PHIX). Both indices include only bio...
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