Here are 5 winners and 4 losers from the healthcare industry's most important event of the year
The J.P. Morgan Healthcare conference helps set the tone for the year for biotech.SAN FRANCISCO — For the first time in three years, the healthcare industry's most influential conference returned to its usual spot at the Westin St. Francis in San Francisco.
But others struggled. The gene-sequencing giant Illumina's stock slumped after it gave a disappointing 2023 sales outlook and rival startups made several product announcements. Alector CEO Arnon Rosenthal said that while his company was taking a different approach from drugs like lecanemab that target the accumulation of beta-amyloid in the brain to treat Alzheimer's, he'd also felt an increasing interest from investors and Big Pharma since the drug's approval.
Investors said biotech founders and companies needed to be creative in how they ride out the tough bear market.on the outlook for the biopharma sector in 2023 and beyond at the Biotech Showcase — just down the street from the J.P. Morgan conference — investors talked about how founders could go about finding creative solutions to raising capital, pitching their ideas, and getting cash on the balance sheet far before there's a constraint.
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