Biotech joins late surge to go green

Biotech shares joined a broad afternoon market rally that helped snap a four session losing streak for the small and midcap biotech group on a day with little sector news. 

It’s been a 10-month-long slide for biotech equities, and the beaten down valuations have biopharma specialists seeking buying opportunities and hoping the discounted price tags will spark a run of M&A for cash-rich large caps that in turn brings investment momentum back to life sciences...