It’s been a weird year for biotech stocks. One major index peaked in February, but since then, it’s been a slow downhill trudge for nearly every company. Some of the factors influencing the stock market as a whole have very little to do with biotech. But some financial trends really will matter for the industry.
Here are three basic forces that shaped the financial landscape for the biotech sector in 2021 — and why those same forces will drive the markets in 2022.