Med-tech firms raised $22.71 billion in financings through October, an increase of 46% over the $15.59 billion raised during the same period in 2023. October’s value totaled $1.43 billion, up from $1.02 billion in September, but down from August's $3.67 billion.

Through September 2024, biopharma firms secured $720.56 million in nonprofit deals, up in value through July and also marking a 21% rise from the $593.23 million in the first three quarters of 2023, though still falling short of 2019-2022 levels. Grants saw an even sharper surge, jumping 131% year-over-year from $1.66 billion to $3.84 billion in the same period, falling short only of 2020 in value.

The BioWorld Cancer Index (BCI) took a hit in September, ending the month down 11.52%, a notable slide from its 3.94% decline at the end of July and 9.63% drop by the end of August. The BCI’s performance starkly contrasts with the Nasdaq Biotechnology Index, which jumped 9.09%, and the Dow Jones Industrial Average’s 12.31% gain over the same nine-month period. This marks a stark reversal for the BCI, which had a standout year in 2023, closing with a 76.26% gain.

Biopharma deals and M&A activity in 2024 continued to surge past the last two years, with deal value in the first three quarters jumping 14.5% year-over-year. The total climbed from $130.38 billion through 3Q23 to an impressive $149.24 billion so far in 2024, the highest value in the first nine months of a year, according to BioWorld’s records. Q3 alone saw $49.81 billion in deals, following a strong Q2 at $55.26 billion. Meanwhile, M&As skyrocketed 75.5% in 2024, hitting $98.02 billion, up from $55.82 billion during the first nine months of last year.

In September 2024, BioWorld recorded 252 clinical trial updates, up from 92 in August, due in part to news from the European Society for Cardiology Congress, the IASCLC World Conference on Lung Cancer and the European Association for the Study of Diabetes, among others. The month included 35 successful phase III trial updates and four failures.

In September 2024, BioWorld recorded 252 clinical trial updates, up from 92 in August, due in part to news from the European Society for Cardiology Congress, the IASCLC World Conference on Lung Cancer and the European Association for the Study of Diabetes, among others. The month included 35 successful phase III trial updates and four failures.

Biopharma deals and M&A activity in 2024 continued to surge past the last two years, with deal value in the first three quarters jumping 14.5% year-over-year. The total climbed from $130.38 billion through 3Q23 to an impressive $149.24 billion so far in 2024, the highest value in the first nine months of a year, according to BioWorld’s records. Q3 alone saw $49.81 billion in deals, following a strong Q2 at $55.26 billion. Meanwhile, M&As skyrocketed 75.5% in 2024, hitting $98.02 billion, up from $55.82 billion during the first nine months of last year.

The U.S. FDA approved 23 drugs in September, up from 22 in August and 17 in July, bringing the 2024 monthly average to nearly 20. This surpasses last year's 16 per month, 12.5 in 2022, and 17 per month in both 2021 and 2020.

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.