In the first month of 2024, BioWorld reported on 252 phase I-III clinical trial updates, marking a 10% decrease from the 281 updates in December 2023, as well as a decline from 354 updates in November and 416 in October. The number of trial updates is also a 10% drop compared to January 2023, which recorded 281 updates.
The U.S. FDA approved eight drugs in January 2024, down from 10 approvals the previous January and also down from December’s 21 FDA greenlights. Approvals of new molecular entities also continued to decline, going from six in November to three in December, to one in the first month of 2024.
Concluding 2023 on a strong note, the BioWorld Biopharmaceutical Index ended the year up 11.62%, surpassing the end of November increase of 3.37%. BBI kicked off the new year with a solid 4.77% increase by January’s end.