Biotech Market Update: Q1 2024 in Review
The first quarter of 2024 brought a surge of initial public offerings (IPOs) and M&A activity within the biotech industry, signaling continued interest from investors who are keen to get exposure to the life science sector. Punctuating the period, AstraZeneca (LSE:AZN,NASDAQ:AZN) announced plans in March to acquire its longtime partner Fusion Pharmaceuticals, as well as startup Amolyt, which is focused on rare endocrine diseases. At the time of this writing, 14 biotech deals had been struck in 2024, according to data from Biopharma Dive. Meanwhile, data from investment bank Jefferies shows tha...