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Once booming biotech stocks enter bearish territory


Biotech companies are experiencing one of their worst stock runs in years as rising interest rates, scientific setbacks and a slowdown in big pharma takeovers hit the sector.

Biotech stocks began to soar in the spring of 2020 as individual investors and hedge funds flocked to the sector amid intense attention to the race to develop new vaccines and drugs for Covid-19. Rising demand for biotech stocks has helped fuel a historic boom in IPOs and venture capital investments through 2021.

wsj

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