If biotech’s historic bull run is losing steam, as some observers believe, this week is one hell of a final stampede.
Adaptive Biotechnologies of Seattle just raised $300 million. BridgeBio Pharma of Palo Alto, CA, has topped it, raising $348.5 million. Both begin trading Thursday. The combined haul is a remarkable sum, more than 2 percent of the $28 billion that biotechs raised up to this week during a six-year “super-cycle” that began in 2013, according to SVB Leerink analyst Geoffrey Porges.
In a report published this week, Porges isn’t ready to declare the long boom over, but he… Read more »
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