An uptick in positive clinical data reported in recent months has helped nudge the BioWorld Biopharmaceutical Index (BBI) to its highest point this year. BBI is up by 15.58%, significantly higher than the 1.36% increase recorded at the end of August, just as statistically significant clinical results began to roll in from a number of biopharma companies.

The number of biopharma deals with nonprofit or government entities has dwindled in recent months, while industry grants are climbing. Combined, however, a total of 936 bio/nonprofit deals and grants worth $11.17 billion is down by 37% in comparison with last year’s $17.8 billion and by 58.7% in comparison with 2020’s $27 billion. The volume also is down significantly by 16.8% from 2021 and by 33.4% from 2020.

A mega-deal and high-money buyouts may have given a boost to BioWorld’s Drug Developers Index in October, but safety issues, money troubles and failed trials continue to hold stocks down. Compared with the broader markets, drug development companies are showing the same ups and downs, influenced by rising inflation and a struggling economy, as well as uncertainties caused by war, the COVID-19 pandemic and politics.

Despite coming out strong earlier this year, biopharma deals have slowed significantly, with values now falling behind 2021 by 7.6%. In August, deals were ahead of all recent years, showing a 7% increase over last year. Through early November, the industry has completed 1,296 deals, including licensings, joint ventures and collaborations, valued at $154.6 billion.