2008 Financial Markets Preview: Looking for an oasis

The first quarter is usually a time of plenty for biotech, but this year market watchers are worried that 1Q08 - and indeed the entire first half - may be lackluster when it comes to financing and market performance.

Indeed, even though biotech had another record financing year in 2007, the funding slowed at the end amid concerns about the state of the U.S. economy. As a result, 4Q07 was the sixth worst fourth quarter for financings since 2000, and market watchers expect the year to begin on the same note...