Friday, July 1, 2022
    HomeHealthSTAT+: Pharmalittle: ‘Gloomy’ report issued on WTO Covid-vaccine proposal; biotech ‘swoon’ hits...

    STAT+: Pharmalittle: ‘Gloomy’ report issued on WTO Covid-vaccine proposal; biotech ‘swoon’ hits enterprise value at many companies


    Rise and shine, everybody, one other busy day is on the way in which. This morning is getting off to a wonderful begin, although, as a delightfully heat solar is enveloping the subdued Pharmalot campus, the place the official mascot is snoozing and the quick particular person can also be sleeping in earlier than heading out for a brand new journey. As at all times, we’re quaffing some cups of stimulation — golden French toast is our alternative du jour — and assembling some tidbits on your pleasure. So, time to get cracking. Hope you’ve gotten a smashing day, and do keep in contact. We at all times take pleasure in your ideas and insights. …

    The biotech swoon final 12 months has settled right into a 2022 malaise, with the carefully watched XBI index now down 40% for the 12 months, pushing greater than 200 public firms into the undesirable territory of working a enterprise that’s value lower than the money they’ve within the financial institution, STAT says. There are 30 firms in dire straits, with their enterprise worth — which is market cap plus debt and minus money — at $100 million or extra beneath zero. Once you add all of it up, these firms have about $14 billion in money and a cumulative market cap of $8 billion, in response to information from Evercore ISI.

    Continue to STAT+ to read the full story…

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