Through July 2024, biopharma firms received $2.52 billion in grants, marking a 52% increase from $1.66 billion in grants during the same period last year. However, nonprofit deals are at their lowest level on record, according to BioWorld’s records. Although nonprofit deal values were initially higher in April compared to 2023, they have since dropped and are now well below the levels seen in prior years.

The BioWorld Infectious Disease Index (BIDI) has rebounded significantly from its lowest point this year, improving from a 25.12% drop in late April to a 7.66% decline by the end of July. Despite the recovery, BIDI still lagged behind the Nasdaq Biotechnology Index, which rose 10.82% by July’s close, and the Dow Jones Industrial Average, which gained 8.25% year to date.

In July 2024, BioWorld reported on 121 clinical trial updates, down from 221 covered in June. The month saw 17 successful phase III trials, alongside four unsuccessful cancer trials.

The BioWorld Biopharmaceutical Index climbed 16.31% by the end of July, continuing its lead over both the Nasdaq Biotechnology Index, which rose 10.82%, and the Dow Jones Industrial Average, up 8.37%. This follows an 8.15% gain in the BBI at the close of May, marking a strong performance throughout 2024.

The U.S. FDA approved 17 drugs in July, down from 28 in June, which marked the third-highest month in BioWorld’s records. On average, the FDA approved approximately nearly 19 drugs per month so far in 2024, compared to 16 per month in 2023, 12.5 per month in 2022, and 17 per month in both 2021 and 2020.

The U.S. FDA approved 17 drugs in July, down from 28 in June, which marked the third-highest month in BioWorld’s records. On average, the FDA approved approximately nearly 19 drugs per month so far in 2024, compared to 16 per month in 2023, 12.5 per month in 2022, and 17 per month in both 2021 and 2020.

In July, biopharma deal values surged to $20.68 billion, a 61% increase from June's $12.82 billion. The boost pushed the total deal value for the first seven months of 2024 to $119.99 billion, marking the highest amount raised through July in BioWorld‘s records.

The BioWorld Cancer Index (BCI) finished July down 3.94% for the year, maintaining its downward trend after reaching a high of 11.07% at the end of February and closing in March with a 3.92% gain. In comparison, the BCI underperformed the Nasdaq Biotechnology Index, which climbed 10.82%, and the Dow Jones Industrial Average, which posted an 8.37% increase over the first seven months of the year.

In July, biopharma deal values surged to $20.68 billion, a 61% increase from June's $12.82 billion. The boost pushed the total deal value for the first seven months of 2024 to $119.99 billion, marking the highest amount raised through July in BioWorld‘s records.

In July, med-tech deal values surged to $200.88 million, up 116% from June's $93.07 million and ranking as the second-highest monthly total for 2024, behind only February’s $255.61 million.