STAT+: Biotech is in a dark place

This story first appeared in Adam’s Biotech Scorecard, a subscriber-only newsletter. STAT+ subscribers can sign up here to get it delivered to their inbox.

I apologize for this depressing, cynical newsletter. I still hope you read it. 

Why it’s so bleak out there

My recent conversations with folks in the biotech investing world can only be described as bleak. The market offers one beatdown after another. Sentiment is lousy and the bad mood is relentless, to the point where people are seriously wondering if a sector turnaround is ever possible. 

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