Modest signs of recovery were seen in the biopharma IPO market in 2024, though activity remains significantly below the levels seen during the 2018-2021 boom. In 2024, 32 biopharma companies went public, a slight increase from 27 in 2023 but a decline from 35 in 2022. These figures pale in comparison to the peak years, with 134 IPOs in 2021, 106 in 2020 and even 65 in 2019. Both the total value and volume of IPOs continue to lag far behind those earlier highs.

Biopharma companies secured $102.15 billion in funding in 2024, a 44% increase from $70.97 billion in the full-year 2023 and significantly higher than the $60.81 billion raised in 2022. December financings reached $4.69 billion, marking an increase from $3.6 billion in November.

Biopharma companies secured $102.15 billion in funding in 2024, a 44% increase from $70.97 billion in the full-year 2023 and significantly higher than the $60.81 billion raised in 2022. December financings reached $4.69 billion, marking an increase from $3.6 billion in November.

Med-tech deals activity dropped significantly in 2024, falling 84% from $9.83 billion in the first nine months of 2023 to $1.6 billion in the same period this year. While down from $6.59 billion in Q1 to Q3 2022, value is higher than $979.84 million in the comparable period in 2021.

Med-tech companies raised $25.36 billion in financings in 2024, marking a 43% increase from $17.68 billion in 2023. December saw a significant rise, with $1.72 billion raised, compared to $919.99 million in November.

Despite a sometimes-turbulent stock market and over 18,000 job losses, 2024 closed with signs of recovery, marked by growth in both financings and deals, setting an optimistic tone for 2025.

In November 2024, BioWorld tracked 180 clinical trial updates, down from 219 in October and 252 in September but up from 92 in August. The month included 13 successful phase III outcomes and five trial failures.

The U.S. FDA approved 10 drugs in November, down from 15 in October, 24 in September and 22 in August. Four new molecular entities were approved by the agency in the month, bringing the year-to-date total to 42.

The BioWorld Biopharmaceutical Index (BBI) closed November with a modest 3.58% gain for the year, a sharp decline from its 16.92% rise in September and peak of 25.19% in August. The BBI has now fallen behind the Nasdaq Biotechnology Index, which posted a 6.27% year-to-date gain, and the Dow Jones Industrial Average, up 19.16% at the end of the month.

Biopharma deal activity in November reached $29.18 billion, up from $22.29 billion in October. Year-to-date deal values have increased 3.6%, from $194.13 billion in the first 11 months of 2023 to $201.19 billion through November this year, overtaking 2023 to be the highest year on record through the month.