Still not over the hump, as biotech heads into 2H24

Buysiders and bankers are optimistic headed into 3Q24, as the markets are rewarding positive catalysts and companies can finance their pipelines on the back of good news. But uncertainty over the Fed’s timing on potential interest rate cuts is keeping a lid on how far that optimism can extend.

Diminished expectations around rate cuts this year have brought risk-on trade to a halt, leaving the broader sector still vulnerable to the Federal Reserve’s monetary policy...