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
Tue, 16 Jun 2026	US$1.3t	US$170.0b	-US$12,162,265,505.10	16.4x	-105.5x	7.5x
Thu, 14 May 2026	US$1.3t	US$171.7b	-US$11,491,259,456.48	17.2x	-115x	7.7x
Sat, 11 Apr 2026	US$1.3t	US$166.2b	-US$11,949,463,221.18	17.5x	-109.2x	7.9x
Mon, 09 Mar 2026	US$1.3t	US$169.6b	-US$14,215,772,987.80	21x	-91.5x	7.7x
Wed, 04 Feb 2026	US$1.3t	US$163.6b	-US$15,053,781,146.73	20.6x	-84.4x	7.8x
Fri, 02 Jan 2026	US$1.2t	US$163.5b	-US$15,348,052,088.89	21.3x	-79x	7.4x
Sun, 30 Nov 2025	US$1.2t	US$163.6b	-US$16,204,135,751.28	19x	-77.1x	7.6x
Tue, 28 Oct 2025	US$1.2t	US$163.4b	-US$18,535,387,674.19	17.8x	-62.8x	7.1x
Thu, 25 Sep 2025	US$1.1t	US$163.5b	-US$18,318,414,671.61	16.5x	-59.2x	6.6x
Sat, 23 Aug 2025	US$1.1t	US$163.6b	-US$18,600,438,658.14	15.1x	-57.7x	6.6x
Mon, 21 Jul 2025	US$961.3b	US$155.2b	-US$23,259,963,048.32	16.5x	-41.3x	6.2x
Wed, 18 Jun 2025	US$940.7b	US$155.9b	-US$23,954,335,834.04	17.1x	-39.3x	6x
Fri, 16 May 2025	US$863.7b	US$155.9b	-US$24,603,386,779.22	14.7x	-35.1x	5.5x
Sun, 13 Apr 2025	US$740.4b	US$119.2b	-US$36,465,001,079.34	19.8x	-20.3x	6.2x
Tue, 11 Mar 2025	US$845.2b	US$118.7b	-US$37,516,362,615.25	18.1x	-22.5x	7.1x
Thu, 06 Feb 2025	US$852.4b	US$117.2b	-US$30,787,020,617.09	17.5x	-27.7x	7.3x
Sat, 04 Jan 2025	US$971.4b	US$149.6b	-US$26,354,792,434.12	17x	-36.9x	6.5x
Mon, 02 Dec 2024	US$1.0t	US$150.0b	-US$26,595,044,865.34	16.4x	-39.2x	6.9x
Wed, 30 Oct 2024	US$898.1b	US$113.4b	-US$36,099,862,624.13	20.1x	-24.9x	7.9x
Fri, 27 Sep 2024	US$885.6b	US$113.2b	-US$36,051,039,342.95	21.4x	-24.6x	7.8x
Sun, 25 Aug 2024	US$908.6b	US$113.2b	-US$35,874,993,723.21	23.6x	-25.3x	8x
Tue, 23 Jul 2024	US$1.2t	US$164.5b	-US$28,074,139,763.44	29.1x	-42.5x	7.3x
Thu, 20 Jun 2024	US$1.1t	US$164.4b	-US$27,969,500,563.98	27.2x	-40.6x	6.9x
Sat, 18 May 2024	US$1.1t	US$164.6b	-US$26,831,179,712.66	23.9x	-42.7x	7x
Mon, 15 Apr 2024	US$1.1t	US$164.3b	-US$23,399,427,407.87	21.1x	-46.9x	6.7x
Wed, 13 Mar 2024	US$1.2t	US$167.3b	-US$22,031,216,768.79	18.8x	-54.1x	7.1x
Fri, 09 Feb 2024	US$1.2t	US$169.3b	-US$26,196,624,627.91	19.6x	-44x	6.8x
Sun, 07 Jan 2024	US$1.4t	US$204.8b	-US$22,501,061,722.00	20.5x	-63.1x	6.9x
Tue, 05 Dec 2023	US$1.3t	US$204.7b	-US$22,047,091,184.00	19x	-57.3x	6.2x
Thu, 02 Nov 2023	US$1.2t	US$207.6b	-US$15,463,681,135.00	16.9x	-77.5x	5.8x
Sat, 30 Sep 2023	US$1.3t	US$207.4b	-US$12,733,898,979.00	17.1x	-99.6x	6.1x
Mon, 28 Aug 2023	US$1.3t	US$207.6b	-US$12,455,656,838.00	17.5x	-102.5x	6.1x
Wed, 26 Jul 2023	US$1.1t	US$186.4b	-US$16,520,100,805.00	14.4x	-68.6x	6.1x
Fri, 23 Jun 2023	US$1.1t	US$186.3b	-US$16,130,651,001.00	13.8x	-71.1x	6.2x


US Market	2.20%
Healthcare	0.64%
Biotech	2.47%
Biotech	2.47%

Company	Last Price	7D	1Y	Valuation
MRNA Moderna	US$55.41	16.1% +US$3.0b	116.9%	PS9.9x
GILD Gilead Sciences	US$127.25	1.4% +US$2.2b	17.8%	PE17.1x
VRTX Vertex Pharmaceuticals	US$453.17	1.7% +US$1.9b	2.5%	PE26.5x
AMGN Amgen	US$347.79	0.9% +US$1.7b	19.9%	PE24.1x
RVMD Revolution Medicines	US$156.58	4.7% +US$1.5b	300.1%	PB22.2x

Announcement • 5h

BioMarin Pharmaceutical Inc. Presents New Three-Year VOXZOGO Data in Hypochondroplasia and BMN 333 Early Results At ENDO 2026

BioMarin Pharmaceutical Inc. announced new data from studies of VOXZOGO (vosoritide) in children with hypochondroplasia and the investigational medicine BMN 333 in achondroplasia were presented at ENDO 2026, the Endocrine Society Annual Meeting, in Chicago. New data from a Phase 2, investigator-sponsored three-year extension study of VOXZOGO in 13 children with hypochondroplasia, led by Andrew Dauber, M.D. and investigators at Children's National Hospital, demonstrated sustained improvements in annualized growth velocity (AGV) and height standard deviation score (SDS), with a favorable safety profile. Mean height SDS improved by 0.72 SD over three years of treatment, while mean AGV increased from 4.27 cm/year at baseline to 7.24 cm/year at year one. Additional data being presented at ENDO 2026 highlight the potential of investigational BMN 333, BioMarin's long-acting C-type natriuretic peptide (CNP) for achondroplasia. In a Phase 1 single-ascending dose study in healthy adults, BMN 333 demonstrated sustained systemic exposure associated with prolonged pharmacodynamic target engagement, supporting a weekly dosing schedule. The maximum examined dose of BMN 333 (500 µg/kg) increased exposure to free CNP by more than 13 times compared to another long-acting CNP agent, reflecting the potential of BMN 333 to become the new standard of care in achondroplasia. BMN 333 was well tolerated across all dose levels evaluated, with no dose-limiting toxicities or treatment-related serious adverse events. In April, BioMarin began enrolling patients in the registration-enabling Phase 2/3 study of BMN 333. A data update from the dose-finding segment of this study is expected in 2027. VOXZOGO is being tested in children whose growth plates are still "open," typically those under 18 years of age. Approximately 25% of people with achondroplasia fall into this category. BioMarin estimates that roughly 14,000 children with hypochondroplasia within the company's global footprint may be eligible for treatment with VOXZOGO. There are currently no medicines approved by the U.S. Food and Drug Administration or the European Medicines Agency for the treatment of hypochondroplasia. In children with achondroplasia, endochondral bone growth, an essential process by which bone tissue is created, is negatively regulated due to a gain of function mutation in FGFR3. VOXZOGO, a C-type natriuretic peptide (CNP) analog, acts as a positive regulator of the signaling pathway downstream of FGFR3 to promote endochondral bone growth. VOXZOGO is the only approved medicine to support the growth of children with achondroplasia starting from birth, with international consensus guidelines recommending initiation of VOXZOGO as early as possible. First approved in 2021, VOXZOGO has helped more than 5,000 infants and children in more than 50 countries. Through ongoing studies, BioMarin continues to evaluate VOXZOGO on key clinical endpoints relevant for achondroplasia patients, such as arm span, tibial bowing (leg bowing), body proportionality, spinal morphology (including spinal stenosis) and quality of life measures. VOXZOGO is approved in the U.S., Japan and Australia to increase linear growth in children of all ages with achondroplasia with open epiphyses, and VOXZOGO is indicated in the EU for the treatment of achondroplasia in children 4 months of age and older whose epiphyses are not closed, as confirmed by appropriate genetic testing. In the U.S., this indication is approved under accelerated approval based on an improvement in annualized growth velocity. Continued approval may be contingent upon verification and description of clinical benefit in confirmatory trial(s). To fulfill this post-marketing requirement, BioMarin intends to use the ongoing open-label extension studies compared to available natural history. The use of VOXZOGO to treat hypochondroplasia has not yet been approved by any regulatory agency. VOXZOGO is a prescription medicine used to increase linear growth in children with achondroplasia and open growth plates (epiphyses). VOXZOGO is approved under accelerated approval based on an improvement in annualized growth velocity. Continued approval may be contingent upon verification and description of clinical benefit in confirmatory trials. VOXZOGO may cause serious side effects including a temporary decrease in blood pressure in some patients. To reduce the risk of a decrease in blood pressure and associated symptoms (dizziness, feeling tired, or nausea), patients should eat a meal and drink 8 to 10 ounces of fluid within 1 hour before receiving VOXZOGO. The most common side effects of VOXZOGO include injection site reactions (including redness, itching, swelling, bruising, rash, hives, and injection site pain), high levels of blood alkaline phosphatase shown in blood tests, vomiting, joint pain, decreased blood pressure, and stomachache. VOXZOGO is taken daily as an injection given under the skin, administered by a caregiver after a healthcare provider determines the caregiver is able to administer VOXZOGO. Inject VOXZOGO 1 time every day, at about the same time each day. If a dose of VOXZOGO is missed, it can be given within 12 hours from the missed dose. After 12 hours, skip the missed dose and administer the next daily dose as usual. The dose of VOXZOGO is based on body weight. The healthcare provider will adjust the dose based on changes in weight following regular check-ups. The healthcare provider will monitor the patient's growth and tell when to stop taking VOXZOGO if they determine the patient is no longer able to grow. Stop administering VOXZOGO if instructed by the healthcare provider. Tell the doctor about all of the patient's medical conditions including if the patient has heart disease (cardiac or vascular disease), or if the patient is on blood pressure medicine (anti-hypertensive medicine), if the patient has kidney problems or renal impairment, if the patient is pregnant or plans to become pregnant, if the patient is breastfeeding or plans to breastfeed. Tell the doctor about all of the medicines the patient takes, including prescription and over-the-counter medicines, vitamins, and herbal supplements.

Announcement • Jun 15

Incyte Presents Results from Pivotal Phase 3 Frontmind Trial of Tafasitamab Combination At Eha 2026 Plenary

Incyte announced positive results from the pivotal Phase 3 frontMIND trial evaluating the efficacy and safety of tafasitamab (Monjuvi®/Minjuvi®), a humanized Fc-modified cytolytic CD19-targeting monoclonal antibody, and lenalidomide added to R-CHOP (rituximab, cyclophosphamide, doxorubicin, vincristine and prednisone; Tafa-Len-R-CHOP) versus R-CHOP, the current standard of care, as a first-line treatment for adults with previously untreated diffuse large B-cell lymphoma (DLBCL) or high-grade B-cell lymphoma (HGBL). Eligible patients had an International Prognostic Index (IPI) score of 3-5, or, for patients =60 years of age, an age-adjusted IPI (aaIPI) of 2-3. The frontMIND study evaluating tafasitamab (Monjuvi®/Minjuvi®) in patients with previously untreated high-risk diffuse large B-cell lymphoma (DLBCL) and high-grade B-cell lymphoma (HGBL) was selected for the prestigious Plenary Abstracts Session at EHA 2026. Results showed tafasitamab and lenalidomide plus R-CHOP (Tafa-Len-R-CHOP) significantly prolonged progression-free survival (PFS), reducing risk of disease progression or death by 25%. Positive trends toward PFS benefit with Tafa-Len-R-CHOP were observed across prespecified subgroups, including in patients with centrally confirmed lymphoma subtypes and both cell-of-origin (COO) molecular subtypes. The frontMIND data support global regulatory applications for tafasitamab and lenalidomide in addition to R-CHOP for previously untreated DLBCL and HGBL. The results, which build on previously reported topline data and also recently announced at the 2026 American Society of Clinical Oncology Annual Meeting, showed Tafa-Len-R-CHOP resulted in statistically significant and clinically meaningful improvements in progression-free survival (PFS). Efficacy Data: A 25% reduction in risk of disease progression or death demonstrated with Tafa-Len-R-CHOP compared with R-CHOP (HR 0.75 [P=0.0194]; 95% CI: 0.59, 0.96; median follow-up of 35.2 months). PFS increase of 8.2% at 2 years (71.1% with Tafa-Len-R-CHOP vs. 62.9% with R-CHOP) and a PFS increase of 6.6% at 3 years (67.3% with Tafa-Len-R-CHOP vs. 60.7% with R-CHOP). Tafa-Len-R-CHOP trends toward PFS advantage were broadly consistent across prespecified subgroups, including patients with centrally confirmed lymphoma subtypes and across COO molecular subtypes (ABC [Activated B-cell-like] and GCB [Germinal Center B-cell-like]). Tafa-Len-R-CHOP significantly improved event-free survival (EFS) compared to R-CHOP (HR 0.79 [P=0.0260] 95% CI: 0.64, 0.97; median follow-up of 35.4 months). Interim overall survival (OS) analysis demonstrated a positive trend toward improvement (HR=0.85 [P=0.2703] 95% CI: 0.63, 1.14, median follow-up of 35.9 months). Minimal residual disease (MRD)-negativity rate was 81.3% with Tafa-Len-R-CHOP and 66.7% with R-CHOP. Safety Data: Tafa-Len-R-CHOP was generally well tolerated, and safety was consistent with the expected safety profile of adding Tafa-Len to R-CHOP. Safety findings included: The most common treatment-emergent adverse events (TEAEs) for Tafa-Len-R-CHOP were neutropenia (70.7%), anemia (46.3%) and peripheral neuropathy (40.6%). Any grade TEAEs were similar in both treatment arms (98.6% vs 97.1%). More Grade =3 TEAEs occurred with Tafa-Len-R-CHOP (86.7%) vs R-CHOP (76.1%). The most common Grade 3 TEAEs for Tafa-Len-R-CHOP group were anemia (22.8%), thrombocytopenia (13.1%) and neutropenia (12.4%) vs. anemia (15.9%), febrile neutropenia (8.7%) and thrombocytopenia (6.7%) for R-CHOP. Incremental safety events observed with Tafa-Len-R-CHOP were well managed and did not interfere with the delivery of the R-CHOP backbone. Rates of TEAEs leading to discontinuation of all study treatment were similar between the two groups (5.2% for Tafa-Len-R-CHOP and 5.4% for R-CHOP) - a higher rate of fatal TEAEs was observed with Tafa-Len-R-CHOP (5.9% vs 3.8% with R-CHOP), however there were fewer overall deaths with Tafa-Len-R-CHOP (82 [18.5%]) compared to R-CHOP (97 [21.7%]), consistent with the positive trend observed in overall survival. The frontMIND data support global regulatory applications for tafasitamab and lenalidomide in addition to R-CHOP for previously untreated DLBCL and HGBL. Diffuse large B-cell lymphoma (DLBCL) is the most common type of non-Hodgkin lymphoma (NHL) in adults worldwide, representing 40% of all cases. It is characterized as an aggressive, fast-growing type of lymphoma that can emerge in lymph nodes or extranodal sites such as the gastrointestinal tract, skin and brain. Each year, approximately 24,000 people in the U.S. and up to 36,000 people in Europe are diagnosed with DLBCL. With about 40% of these patients not responding to initial therapy or relapsing thereafter, there is a high medical need for new, effective therapies, particularly for high-risk patients. The frontMIND trial (NCT04824092) is a randomized, double-blind, placebo-controlled, global Phase 3 study in patients with previously untreated high-risk diffuse large B-cell lymphoma (DLBCL) and high-grade B-cell lymphoma (HGBL). The study enrolled 899 adults (=18 to =80 years) and is evaluating the efficacy and safety of tafasitamab and lenalidomide added to R-CHOP (rituximab, cyclophosphamide, doxorubicin, vincristine and prednisone) compared with R-CHOP. The primary endpoint of the study is investigator-assessed progression-free survival (PFS) using the Lugano 2014 criteria. Key secondary endpoints include event-free survival (EFS) by investigator assessment and overall survival (OS). Tafasitamab (Monjuvi®/Minjuvi®) is a humanized Fc-modified cytolytic CD19-targeting monoclonal antibody. Tafasitamab incorporates an XmAb® engineered Fc domain, which mediates B-cell lysis through apoptosis and immune effector mechanism including Antibody-Dependent Cell-Mediated Cytotoxicity (ADCC) and Antibody-Dependent Cellular Phagocytosis (ADCP). In the U.S., Monjuvi® (tafasitamab-cxix) is approved by the U.S. Food and Drug Administration in combination with lenalidomide and rituximab for the treatment of adult patients with relapsed or refractory follicular lymphoma (FL).

U.S. Biotech Industry Analysis

Industry Valuation and Performance

Industry Trends

Top Stock Gainers and Losers

Latest News

BioMarin Pharmaceutical Inc. Presents New Three-Year VOXZOGO Data in Hypochondroplasia and BMN 333 Early Results At ENDO 2026

Allergan Aesthetics Receives Fda Approval for Skinvive by Juvederm for Improvement of Neck Appearance

Elicio Therapeutics Shares Drop After Phase 2 Pancreatic Cancer Trial Misses Main Goal

Gilead Sciences Receives Fda Acceptance for Supplemental New Drug Application for Once-Weekly Oral Yeztugo for Hiv Prevention

Neurocrine Biosciences, Inc. Announces Clinical Findings from the First Retrospective Case Series

MRNA: Flu Review And Pipeline Execution Risk Are Expected To Restrain Upside

Incyte Presents Results from Pivotal Phase 3 Frontmind Trial of Tafasitamab Combination At Eha 2026 Plenary

Revolution Medicines Oral Therapy Doubles Survival in Advanced Pancreatic Cancer Phase 3 Trial

AMGN: IRS Dispute And Tax Overhang Will Pressure Future Returns

BeOne Medicines Unveils Long-Term BRUKINSA Success in Elderly CLL With Pipeline Momentum at EHA 2026

Vertex Advances Pediatric Gene Editing and Launches New Therapies Beyond Cystic Fibrosis

Alnylam Expands RNAi Drug Access as GENESIS Pharma Partnership Reaches Nordic Countries

Nuvalent: 'Hold' On GlaxoSmithKline Acquisition For Selective Tyrosine Kinase Inhibitors

TG Therapeutics Lifts Outlook as Subcutaneous Briumvi Shows Promise in MS and Myasthenia Gravis Trials

BioNTech Advances Pumitamig After Strong Phase 2 Lung Cancer Data and US$1b Buyback

ROIV: 2026 Autoimmune Readouts And Breakthrough Status Will Drive Repricing