While COVID-19 remains a top research priority globally for government and nonprofit entities in partnership with biopharma companies, deal activity also is heavily focused on other infectious diseases, such as smallpox and influenza.

Everything from regulatory approvals, clinical readouts and big money buyout offers can boost the stocks of biopharma companies. But restructurings, diminishing cash and safety issues can also push the prices down. Either way, since the end of July, BioWorld’s Drug Developers Index has shown minimal movement. It is still down by 21.95% for the year, but that is its highest point since the end of March. In comparison with the broader markets, it is following closely the path of both the Nasdaq Biotechnology Index, down 17.16% for the year, and the Dow Jones Industrial Average, down 13.09%.