Despite Headwinds, Biotech Sell-Off Could Offer Buying Opportunity: Analyst
Benzinga (Thu, 03-Apr 3:10 PM)
Bank of America Securities writes that SMid-cap biotech, companies with small to mid-sized market capitalizations, had a rocky start to the year.
Many companies in the coverage are down 20-40% year-to-date (NBI: -2.35%).
Tariff concerns and the U.S. Food and Drug Administration (FDA) shakeup added further near-term uncertainty to an already challenging already challenging outlook.
Earlier this week, Peter Marks resigned from his role at the FDA’s Center for Biologics Evaluation and Research.
Marks was a top regulator at the FDA and played a key role in ensuring the quick approval of vaccines during the COVID-19 pandemic.
In March, the U.S. Department of Health and Human Services unveiled a sweeping restructuring plan on Thursday to cut costs, streamline operations and refocus priorities.
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