Peter Kolchinsky 1/4/24 Peter Kolchinsky 1/4/24

Semper Maior: Spirits Rising

A year ago we published the first “Semper Maior” piece, making the case that biotech was on firm ground and ready for a reboot. We put out the second piece last summer, when it felt like the rebound was underway. Had the year ended in October or even November… well, you know. But here we are after a general market and XBI surge feeling like biotech is now truly recovering from its prolonged downturn. So let’s mine the data, as we have before, to get a sense of what happened in 2023 and what lessons to take with us into 2024.

© Copyright 2001-2023 RA Capital Management, L.P. This website is for informational purposes only and does not constitute an offer to provide investment advisory or other services by RA Capital Management, L.P. (“RA Capital”). Nothing contained on the website constitutes investment advice, and the views expressed should not be taken as advice to buy, sell, or hold any security or as an endorsement of any security or company. In preparing the information contained in this website, RA Capital has not taken into account the investment needs, objectives, and financial circumstances of any particular investor, and investments and companies referenced may not be suitable for all investors. Any views expressed were prepared based upon information available and believed to be reliable at the time such views were written. RA Capital makes no guarantees as to their accuracy or completeness. All information is subject to change and may quickly become unreliable for various reasons, including changes in market conditions or economic circumstances. By accessing this website, you agree not to copy, reproduce, republish, upload, post, transmit, alter, or distribute, in any way, content or materials from this website in any manner inconsistent with the purposes for which it is offered without the prior written consent of RA Capital.

Science

Policy

Culture

Finance

Semper Maior: Spirits Rising