In 2023, the BioWorld Drug Developers Index (BDDI) concluded the year down 11.35%. Although its performance trailed behind the Nasdaq Biotechnology Index (up 3.74%) and the Dow Jones Industrial Average (up 13.7%), BDDI nonetheless made a recovery from the end of October when it was down 31.4%. Notably, the top two performers on BDDI in 2023 had stock rises attributed to approvals in rare disorders. In 2022, the index concluded the year down 20.13%, and in 2021 BDDI was up 7.06% at year-end.
For full year 2023, clinical trial updates saw a 5.23% increase compared to the corresponding period last year. In December, BioWorld tracked 281 phase I-III clinical trial updates, a decline from the 354 noted in November and 416 reported in October.
For full year 2023, clinical trial updates saw a 5.23% increase compared to the corresponding period last year. In December, BioWorld tracked 281 phase I-III clinical trial updates, a decline from the 354 noted in November and 416 reported in October.
Despite a barely open IPO window in 2023, 27 biopharma firms went public in the year. It’s the lowest number since 2012 recorded 11 IPOs in the sector. However, encouraging news is that, overall, the U.S. IPO class of 2023 is up an average of 7.48%.