Post by
Trogarzon on Jun 03, 2024 6:21pm
BIOTECH COMPANIES IN 'DARWINIAN' WORLD AS CASH REMAINS KING
BIOTECH COMPANIES IN 'DARWINIAN' WORLD AS CASH REMAINS KING
About 31% of biotechs across U.S. and Europe have insufficient cash to maintain their operations for more than one year as access to public and private financing remains a challenge, an analysis from consulting firm EY published on Monday shows.
Throughout 2023, biotechs saw a constrained public financing environment. Those with early-stage assets were the worst hit, with some like Clovis Oncology and Acorda Therapeutics winding down their operations.
EY said biotechs remain in a "Darwinian environment" - in which companies with highly sought after late-stage assets have secured record-high premiums for M&A and follow-on deals, while others struggle for survival
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