The BioWorld Biopharmaceutical Index (BBI) climbed 16.92% in the first three quarters of the year, bolstered by second quarter (Q2) results despite disappointing clinical news from several players. The BBI maintained its lead over both the Nasdaq Biotechnology Index, which increased by 9.09%, and the Dow Jones Industrial Average, which saw a 12.31% rise.

Biopharma companies secured $16.31 billion in financing during the third quarter (Q3) of 2024, marking a 29% decrease from the $23.07 billion raised in Q2 and a 65% drop from Q1’s $47.25 billion. Despite the quarterly decline, year-to-date financings through September reached $86.63 billion, surpassing the total annual figures of both 2023 ($70.97 billion) and 2022 ($60.81 billion). Only the record-setting years of 2020 and 2021 saw higher amounts raised.

Biopharma deals in September amounted to $12.79 billion, marking a 20% drop in value from August’s $15.94 billion. Despite the month-to-month decline, the sector has seen strong momentum throughout the first three quarters of 2024, with total deal values reaching $149.02 billion. This represents a 14% increase from the $130.38 billion recorded during the same period in 2023, with 2024 remaining the highest year-to-date deal value on record for BioWorld.

Biopharma deals in September amounted to $12.79 billion, marking a 20% drop in value from August’s $15.94 billion. Despite the month-to-month decline, the sector has seen strong momentum throughout the first three quarters of 2024, with total deal values reaching $149.02 billion. This represents a 14% increase from the $130.38 billion recorded during the same period in 2023, with 2024 remaining the highest year-to-date deal value on record for BioWorld.

Following a slump in August, which posted the lowest med-tech deal values of 2024, September bounced back with the highest monthly total of the year, reaching $356.79 million.

Biopharma financings continued to outperform over the first nine months of 2024, hitting $86.2 billion, a 75% increase from the $49.35 billion raised during the same period in 2023. September alone saw a significant boost from the prior month, with financings more than doubling to $8.7 billion from $3.5 billion in August.

Med-tech fundraising saw strong growth in 2024, with companies raising $21.24 billion in the first three quarters, a 48% increase over the $14.36 billion raised during the same period in 2023. However, September’s total dropped to $982.44 million, down from $3.67 billion in August.

In August 2024, BioWorld tracked 92 clinical trial updates, a decrease from the 121 reported in July. The month included nine successful phase III trials, three with mixed outcomes and three failures.

In August 2024, BioWorld tracked 92 clinical trial updates, a decrease from the 121 reported in July. The month included nine successful phase III trials, three with mixed outcomes and three failures.

As of the end of August 2024, the BioWorld Neurological Diseases Index (BNDI) reported a decline of 8.89%, lagging behind the Nasdaq Biotechnology Index, which gained 11.7%, and the Dow Jones Industrial Average, which rose by 7.05%. While a slight recovery from BNDI’s lowest point this year, in late April when it was down 12.2%, the index had shown modest gains over recent months before slipping again.