After a nasty October correction of 10%, biotech stocks are in a recovery mode and poised for a Q4 rally extending to early January. This trend was intact in the past (check ’05,’06, and ’07 trends) but was disrupted by the recent financial crisis of ‘08/09. A nice base has formed around the IBB level […]
Biotech stocks continue to rally off the early November bottom despite bad news from Poniard (PARD) because of the picoplatin study failure. PARD was down 76% at 12:09p. The recent news of Sanofi-Aventis adding $800M in funding of Regeneron for monoclonal antibody therapeutics has bolstered the market. The IBB is up 6.5% off the intermediate […]
The technicals in the biotech market are looking a lot better but the damage from October was severe. The 10% correction from the Sep 21, 2009 peak is about over as long as the NASDAQ holds up. The IBB is at 75 today off its high of 84. Good news from a number of companies […]
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Rod Raynovich is the founder of Raygent Associates, a management consulting firm providing business development and strategic marketing services in the life science and medical device area. He publishes his thoughts and analysis on the biotech industry at www.raygent.com.