Biotech boom: After nine days of unrelenting selling, has the death knell been sounded for high growth pharma stocks?

A wave of medical innovation has sent biotech shares rocketing nearly 200% in just three years – but the party appears to be over. With continuing falls reflecting something deeper than profit-taking, Stenham’s Bruce Harington tells CityAM many biotech companies do not have earnings and have been largely reliant on sentiment: a fortune was raised for profitless companies in the hope the next generation of medicine were arriving.

 

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