Has the U.S. Biotech Industry valuation changed over the past few years?

Investors are relatively neutral on the American Biotechs industry at the moment, indicating that they anticipate long term growth rates to remain steady. The industry is trading close to its 3-year average PS ratio of 6.9x.

Which industries have driven the changes within the U.S. Healthcare industry?

There are no additional sub-industries under this industry.

U.S. Biotech Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Thu, 11 Jun 2026	US$1.3t	US$170.0b	-US$12,151,490,457.69	16.4x	-103.3x	7.4x
Sat, 09 May 2026	US$1.3t	US$170.4b	-US$11,735,587,251.14	17.7x	-110.3x	7.6x
Mon, 06 Apr 2026	US$1.3t	US$166.1b	-US$11,838,749,747.84	16x	-108.9x	7.8x
Wed, 04 Mar 2026	US$1.3t	US$169.4b	-US$14,197,160,905.33	21.2x	-94.5x	7.9x
Fri, 30 Jan 2026	US$1.3t	US$163.6b	-US$15,012,270,536.94	20.2x	-84.1x	7.7x
Sun, 28 Dec 2025	US$1.2t	US$163.6b	-US$15,776,614,106.35	22x	-78.8x	7.6x
Tue, 25 Nov 2025	US$1.2t	US$163.8b	-US$16,231,304,385.19	18.4x	-74.3x	7.4x
Thu, 23 Oct 2025	US$1.2t	US$163.4b	-US$18,378,878,617.40	16.2x	-64.2x	7.2x
Sat, 20 Sep 2025	US$1.1t	US$163.5b	-US$18,307,908,800.81	16.3x	-59.4x	6.6x
Mon, 18 Aug 2025	US$1.1t	US$163.6b	-US$18,801,745,296.95	15.6x	-57.2x	6.6x
Wed, 16 Jul 2025	US$985.4b	US$155.7b	-US$23,407,231,049.90	17x	-42.1x	6.3x
Fri, 13 Jun 2025	US$952.7b	US$155.9b	-US$23,953,257,844.78	16.4x	-39.8x	6.1x
Sun, 11 May 2025	US$861.2b	US$154.9b	-US$24,538,327,634.73	16.7x	-35.1x	5.6x
Tue, 08 Apr 2025	US$735.7b	US$118.6b	-US$37,003,812,363.33	20.2x	-19.9x	6.2x
Thu, 06 Mar 2025	US$833.3b	US$119.0b	-US$37,174,684,124.22	16.7x	-22.4x	7x
Sat, 01 Feb 2025	US$998.3b	US$149.5b	-US$26,306,804,829.57	17.2x	-37.9x	6.7x
Mon, 30 Dec 2024	US$977.8b	US$149.9b	-US$26,372,711,577.30	16.2x	-37.1x	6.5x
Wed, 27 Nov 2024	US$1.0t	US$150.0b	-US$26,586,070,085.45	16.4x	-38.7x	6.9x
Fri, 25 Oct 2024	US$884.2b	US$113.1b	-US$36,026,588,945.48	20.7x	-24.5x	7.8x
Sun, 22 Sep 2024	US$920.0b	US$113.2b	-US$35,985,348,157.41	21.9x	-25.6x	8.1x
Tue, 20 Aug 2024	US$883.3b	US$113.2b	-US$35,828,678,074.72	23.2x	-24.7x	7.8x
Thu, 18 Jul 2024	US$1.2t	US$164.5b	-US$28,053,331,413.34	29.4x	-43.2x	7.4x
Sat, 15 Jun 2024	US$1.2t	US$164.4b	-US$28,065,533,148.41	27.3x	-41.3x	7.1x
Mon, 13 May 2024	US$1.1t	US$164.6b	-US$26,961,785,793.98	23.3x	-41.2x	6.7x
Wed, 10 Apr 2024	US$1.1t	US$164.4b	-US$23,371,088,407.86	21.5x	-48.3x	6.9x
Fri, 08 Mar 2024	US$1.2t	US$167.5b	-US$21,885,421,990.22	18.8x	-54.5x	7.1x
Sun, 04 Feb 2024	US$1.4t	US$203.9b	-US$24,418,168,728.00	19.2x	-58.9x	7.1x
Tue, 02 Jan 2024	US$1.4t	US$204.9b	-US$22,203,182,413.00	19.8x	-62.5x	6.8x
Thu, 30 Nov 2023	US$1.2t	US$204.8b	-US$22,009,160,710.00	18.1x	-55.4x	6x
Sat, 28 Oct 2023	US$1.2t	US$206.6b	-US$15,166,070,486.00	16.3x	-77.7x	5.7x
Mon, 25 Sep 2023	US$1.3t	US$207.5b	-US$12,879,333,723.00	17.1x	-97.9x	6.1x
Wed, 23 Aug 2023	US$1.3t	US$207.6b	-US$12,453,450,426.00	17.4x	-102.7x	6.2x
Fri, 21 Jul 2023	US$1.1t	US$186.5b	-US$16,008,267,080.00	12.7x	-71.5x	6.1x
Sun, 18 Jun 2023	US$1.2t	US$186.3b	-US$16,045,332,946.00	12.1x	-72.3x	6.2x


US Market	-3.33%
Healthcare	5.05%
Biotech	2.12%
Biotech	2.12%

Company	Last Price	7D	1Y	Valuation
ABBV AbbVie	US$224.95	3.6% +US$13.8b	17.5%	PE110.6x
NUVL Nuvalent	US$123.35	36.8% +US$2.6b	60.4%	PB8.3x
VRTX Vertex Pharmaceuticals	US$435.71	1.7% +US$1.9b	-3.7%	PE25.5x
INCY Incyte	US$105.39	7.6% +US$1.5b	53.1%	PE14.7x
TNGX Tango Therapeutics	US$28.68	33.6% +US$1.0b	505.1%	PS72.8x

Announcement • Jun 09

Gilead Sciences, Inc. And Merck Announce Positive Topline Results From Two Phase 3 Studies Evaluating Islatravir/Lenacapavir, An Oral Once-Weekly HIV Treatment

Gilead Sciences, Inc. and Merck announced that the primary efficacy endpoint at Week 48 was met in both the Phase 3 ISLEND-1 and ISLEND-2 trials with the investigational oral once-weekly single-tablet HIV treatment regimen of islatravir/lenacapavir. The ISLEND trials are evaluating the efficacy and safety of islatravir 2 mg/lenacapavir 300 mg (ISL/LEN) in people with HIV who are virologically suppressed and switched from BIKTARVY (bictegravir 50 mg/emtricitabine 200 mg/tenofovir alafenamide 25 mg tablets, B/F/TAF) (ISLEND-1) or standard of care antiretroviral regimens (ISLEND-2). The safety profile of ISL/LEN was generally comparable to the comparator regimens studied in the ISLEND trials, and no new safety concerns were identified. Gilead and Merck plan to file the Phase 3 data from the ISLEND trials with regulatory authorities globally and submit the detailed findings for presentation at a future scientific congress. The primary efficacy endpoint of ISLEND-1 and ISLEND-2 was the percentage of participants with HIV-1 RNA levels = 50 copies/mL at Week 48, defined by the FDA snapshot algorithm. In the double-blind ISLEND-1 trial, the once-weekly, single-tablet regimen of ISL/LEN was found to be statistically non-inferior to BIKTARVY. In the open-label ISLEND-2 trial, ISL/LEN was found to be statistically non-inferior to standard of care daily oral antiretroviral therapy regimens. The safety profile of ISL/LEN was generally comparable to BIKTARVY in ISLEND-1 and to standard of care antiretroviral regimens in ISLEND-2. The combination of islatravir and lenacapavir targets multiple stages of HIV-1 replication, potentially offering people with HIV who are virologically suppressed a novel, long-acting oral single-tablet regimen. The potency and pharmacokinetic profiles of islatravir and lenacapavir enable long-acting dosing as a once-weekly tablet for HIV treatment, if approved. Islatravir and lenacapavir in combination are investigational and not approved for use. ISLEND-1 (NCT06630286) is a Gilead-sponsored, multicenter Phase 3 randomized, double-blind, active-controlled trial designed to evaluate the safety and efficacy of switching to a once-weekly tablet of islatravir/lenacapavir (ISL/LEN) versus continuing treatment with BIKTARVY (bictegravir/emtricitabine/tenofovir alafenamide) in people with virologically suppressed HIV (HIV-1 RNA levels <50 copies/mL). ISLEND-2 (NCT06630299) is a Gilead-sponsored, multicenter Phase 3 randomized, open-label, active-controlled trial evaluating the safety and efficacy of switching to a once-weekly tablet of ISL/LEN versus continuation of standard of care treatment in people with virologically suppressed HIV (HIV-1 RNA levels <50 copies/mL). Lenacapavir is being evaluated as a long-acting option in multiple ongoing and planned early and late-stage clinical studies in Gilead’s HIV treatment and prevention research program. Islatravir (MK-8591) is Merck’s potent, next-generation nucleoside analog that blocks HIV-1 replication by multiple mechanisms including inhibition of reverse transcriptase translocation, resulting in immediate chain termination, and induction of structural changes in the viral DNA (delayed chain termination). Islatravir is anchoring multiple ongoing early and late-stage clinical trials of two-drug regimens in combination with other Merck antiretrovirals for potential treatments for HIV-1. Islatravir is being studied in Phase 3 in combination with Merck’s doravirine (DOR/ISL) as a once-daily pill for treatment of HIV-1 infection in adults with no prior antiviral treatment history and in Phase 2b in combination with Merck’s investigational non-nucleoside reverse transcriptase inhibitor (NNRTI) ulonivirine (MK-8507) as an oral once-weekly treatment for HIV-1.

Announcement • Jun 06

Vertex Pharmaceuticals Incorporated Presents New Data On ALYFTREK And TRIKAFTA At European Cystic Fibrosis Conference

Vertex Pharmaceuticals Incorporated announced data demonstrating the potentially transformative impact of treating cystic fibrosis (CF) with ALYFTREK (vanzacaftor/tezacaftor/deutivacaftor) in children ages 2 to 5, as well as data from 96-week interim analyses of two open-label extension studies of ALYFTREK in children 6 to 11 years and people 12 years and older demonstrating the long-term safety and efficacy profile of the medicine. The data, presented at the European Cystic Fibrosis Conference, show children ages 2 to 5 with vanzacaftor/tezacaftor/deutivacaftor-responsive genotypes including those who are homozygous for the F508del mutation (F/F) and those who have F508del/minimal function mutations (F/MF)on ALYFTREK had further improvement in CFTR function from a TRIKAFTA baseline as measured by sweat chloride (SwCl), with 65% having achieved SwCl <30 mmol/L after treatment with ALYFTREK. Vertex also presented Phase 3 data of children ages 1 to <2 with TRIKAFTA (elexacaftor/tezacaftor/ivacaftor). Vertex plans to submit for global regulatory approvals of ALYFTREK in children ages 2 to 5 in the first half of 2026, and the company has begun global regulatory submissions for TRIKAFTA in children ages 1 to <2. “A Phase 3 open-label clinical trial of vanzacaftor/tezacaftor/deutivacaftor in children aged 2-5 years with cystic fibrosis”was presented as a late-breaking abstract and oral presentation in the “Late-Breaking Science” session on June 5 from 5:00 p.m. to 6:30 p.m. GMT+1. Data from 67 children who all completed the 24-week, Phase 3, open-label study show that ALYFTREK was generally safe and well tolerated, consistent with the established safety profile. The primary endpoint of the study was safety and tolerability. Treatment with ALYFTREK resulted in a rapid, clinically meaningful improvement in CFTR function with a mean reduction in sweat chloride from a baseline on TRIKAFTA of -9.6 mmol/L (95% CI -12.1 to -7.0) through Week 24, with 92% of children achieving SwCl concentrations of <60 mmol/L (the diagnostic threshold for CF), and 65% of children reaching SwCl values of <30 mmol/L. These improvements in CFTR function surpass those seen in trials with any other CFTR modulator in this age group. Vertex also presented multiple abstracts on clinical and real-world evidence on ALYFTREK and TRIKAFTA as listed below. These abstracts will be published in the Journal of Cystic Fibrosis: “Long-term safety and efficacy of vanzacaftor/tezacaftor/deutivacaftor in people with cystic fibrosis aged 12 years and older: 96-week interim analysis from an open-label extension study.” (Poster 143) “Long-term safety and efficacy of vanzacaftor/tezacaftor/deutivacaftor in children with cystic fibrosis aged 6 years and older: 96-week interim analysis from an open-label extension study”; also presented as an oral presentation (WS01.3) during the symposium “Clinical and functional impact of highly effective modulators” on June 4 from 3:00–4:30 p.m. GMT+1. “Demographic and clinical characteristics of children with CF aged 2-5 years initiating ELX/TEZ/IVA in LONGITUDE — a UK CF Registry observational study.” (Poster P432). “A Phase 3, 24-Week, Open-Label Study of Elexacaftor/Tezacaftor/Ivacaftor in Children with Cystic Fibrosis 12 to <24 Months of Age” (WS01.2)was featured in an oral presentation as part of the symposium “Clinical and functional impact of highly effective modulators” on June 4 from 3:00–4:30 p.m. GMT+1 and the abstract will be published in the Journal of Cystic Fibrosis:. Results from a 24-week, Phase 3, open-label study of TRIKAFTA in 54 enrolled children aged 12 to <24 months was presented. The primary endpoint was safety and tolerability. TRIKAFTA was generally safe and well tolerated; the safety data are consistent with the established safety profile. Treatment with TRIKAFTA in this age group resulted in rapid, statistically significant and clinically meaningful decrease in SwCl, with a mean reduction of -71.8 mmol/L from a baseline without CFTR modulator treatment through Week 24, with 98.0% of children achieving concentrations <60 mmol/L and 68.6% reaching <30 mmol/L. The uses of ALYFTREK in children with CF 2 to 5 years old, and TRIKAFTA in children with CF 1 to <2 years old, are investigational.

U.S. Biotech Industry Analysis

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