Despite the strength of the economy overall, 2024 was a challenging year for the biotech industry. The high cost of borrowing—particularly prior to the Fed’s first rate cut in several years in September—coupled with a shifting landscape for the healthcare sector dampened prospects for many firms. As a result, the benchmark iShares Biotechnology ETF (NASDAQ: IBB) was highly volatile but ended up down by 1.2% in the year leading to January 17,…
TRENDING
