The BioWorld Biopharmaceutical Index (BBI) climbed 16.92% in the first three quarters of the year, bolstered by second quarter (Q2) results despite disappointing clinical news from several players. The BBI maintained its lead over both the Nasdaq Biotechnology Index, which increased by 9.09%, and the Dow Jones Industrial Average, which saw a 12.31% rise.

Biopharma companies secured $16.31 billion in financing during the third quarter (Q3) of 2024, marking a 29% decrease from the $23.07 billion raised in Q2 and a 65% drop from Q1’s $47.25 billion. Despite the quarterly decline, year-to-date financings through September reached $86.63 billion, surpassing the total annual figures of both 2023 ($70.97 billion) and 2022 ($60.81 billion). Only the record-setting years of 2020 and 2021 saw higher amounts raised.

Virus is associated with sickness, but oncolytic virus therapies, which harness viruses to attack and kill cancer cells, may soon change the standard of treatment for cancer, including those long deemed uncurable like malignant glioma.

This summer’s IPO by Artiva Biotherapeutics Inc. highlighted early stage efforts with natural killer cells in autoimmune disease, where a handful of companies are advancing programs. The firm raised $167 million through an upsized financing, with funds aimed at the development of its lead AlloNK program for systemic lupus erythematosus and other indications in the same category.

Biopharma deals in September amounted to $12.79 billion, marking a 20% drop in value from August’s $15.94 billion. Despite the month-to-month decline, the sector has seen strong momentum throughout the first three quarters of 2024, with total deal values reaching $149.02 billion. This represents a 14% increase from the $130.38 billion recorded during the same period in 2023, with 2024 remaining the highest year-to-date deal value on record for BioWorld.

Biopharma deals in September amounted to $12.79 billion, marking a 20% drop in value from August’s $15.94 billion. Despite the month-to-month decline, the sector has seen strong momentum throughout the first three quarters of 2024, with total deal values reaching $149.02 billion. This represents a 14% increase from the $130.38 billion recorded during the same period in 2023, with 2024 remaining the highest year-to-date deal value on record for BioWorld.