Despite three mammoth deals signed for antibody-drug conjugates, the BioWorld Cancer Index (BCI), which ended last year down 36%, has fallen another 35% in the early months of 2022. It is a much sharper decline than that seen with the Nasdaq Biotechnology Index and the Dow Jones Industrial Average, which are down 18% and 7.5%, respectively.
Financings in the first two months of 2022 amount to only a third of the money raised during the same timeframe of 2021, and the number of transactions is down by 56%.
A total of seven new molecular entities (NME) have been approved by the U.S. FDA this year, while another seven therapies received dreaded complete response letters from the agency. Out of 9 FDA approvals in February, including two BLAs, three NDAs, three supplemental applications, and one abbreviated NDA, were three NME clearances.
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