The other day I went online and decided, for the first time in a while, to check the price of the $XBI. I blinked, rubbed my eyes, and blinked again. 100??? What year is it?
Quietly, gradually and after months of bummer vibes, people are asking: Is biotech back?
The Nasdaq biotech index is up to levels it hasn’t seen since 2022, pharma’s deals with President Donald Trump appear to have taken off some pricing pressure, M&A is cooking, interest rates are starting to come down, and there’s even a smattering of IPOs. It’s almost enough to make you trust again…
Today on Post-Hoc Live, I’ll speak with one of our favorite writers on the market, Stifel Investment Banking’s Tim Opler, whose weekly deep dives are a must-read. And our founding editor, John Carroll, will join: He’s just published a two-part look at dealmaking over the last year, and has a strong view on what’s happening out there.
Come and check the vibes with us at 12:30 pm E.T. today. We’ll be on YouTube, and you can set a calendar reminder to get a nudge when we’re ready to go live.
See you there!
— Drew Armstrong, Executive Editor