Despite three mammoth deals signed for antibody-drug conjugates, the BioWorld Cancer Index (BCI), which ended last year down 36%, has fallen another 35% in the early months of 2022. It is a much sharper decline than that seen with the Nasdaq Biotechnology Index and the Dow Jones Industrial Average, which are down 18% and 7.5%, respectively.
Financings in the first two months of 2022 amount to only a third of the money raised during the same timeframe of 2021, and the number of transactions is down by 56%.
A total of seven new molecular entities (NME) have been approved by the U.S. FDA this year, while another seven therapies received dreaded complete response letters from the agency. Out of 9 FDA approvals in February, including two BLAs, three NDAs, three supplemental applications, and one abbreviated NDA, were three NME clearances.
Two years ago, BioWorld reported on 30 therapeutics and vaccines in development for COVID-19, about 3,000 people had died from the disease, and societal lockdowns began. Today, therapeutics and vaccines have ballooned to 1,048, deaths are at 6 million, and the world remains on edge due to highly transmissible variants and breakthrough infections. One thing remains the same: Scientists still do not know where the SARS-CoV-2 virus originated.
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