The biotech sector is experiencing the most severe downturn of at least the last 20 years. There have been many other downturns in the more recent past, but this one is different. Here Peter Kolchinsky discusses why - and how we’ll rebound.

When a biotech company is valued at around the same amount of cash it has sitting in the bank, is it a safe investment? Some investors might think so - and so we looked at the data. The answer might surprise you.