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

Investors are optimistic on the American Biotechs industry, and appear confident in long term growth rates. The 3-year average PS ratio of 6.9x is lower than the industry's current PS ratio of 7.6x.

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
Wed, 17 Jun 2026	US$1.3t	US$170.0b	-US$12,170,019,113.80	16.4x	-106.1x	7.6x
Fri, 15 May 2026	US$1.3t	US$171.4b	-US$12,266,936,279.76	17.5x	-108x	7.7x
Sun, 12 Apr 2026	US$1.3t	US$166.2b	-US$11,968,946,358.80	17.5x	-107.7x	7.8x
Tue, 10 Mar 2026	US$1.3t	US$169.6b	-US$14,316,774,928.18	21.4x	-91x	7.7x
Thu, 05 Feb 2026	US$1.3t	US$164.4b	-US$14,669,604,182.92	20x	-87.5x	7.8x
Sat, 03 Jan 2026	US$1.2t	US$163.5b	-US$15,345,573,662.60	21.1x	-79.1x	7.4x
Mon, 01 Dec 2025	US$1.2t	US$163.6b	-US$16,204,135,751.28	19x	-77.1x	7.6x
Wed, 29 Oct 2025	US$1.2t	US$163.5b	-US$18,672,628,414.29	17.9x	-63.2x	7.2x
Fri, 26 Sep 2025	US$1.1t	US$163.5b	-US$18,314,402,440.52	16.4x	-59.1x	6.6x
Sun, 24 Aug 2025	US$1.1t	US$163.6b	-US$18,617,532,002.63	15.1x	-57.7x	6.6x
Tue, 22 Jul 2025	US$962.4b	US$155.2b	-US$23,270,488,787.25	16.3x	-41.4x	6.2x
Thu, 19 Jun 2025	US$926.7b	US$155.9b	-US$23,927,342,799.02	16.9x	-38.7x	5.9x
Sat, 17 May 2025	US$884.2b	US$155.9b	-US$24,431,976,921.60	16.3x	-36.2x	5.7x
Mon, 14 Apr 2025	US$740.3b	US$119.2b	-US$36,459,506,079.34	19.8x	-20.3x	6.2x
Wed, 12 Mar 2025	US$844.0b	US$118.8b	-US$37,363,246,365.87	17.4x	-22.6x	7.1x
Fri, 07 Feb 2025	US$871.2b	US$117.2b	-US$30,910,657,601.72	17.5x	-28.2x	7.4x
Sun, 05 Jan 2025	US$980.2b	US$149.6b	-US$26,354,792,434.12	17x	-37.2x	6.6x
Tue, 03 Dec 2024	US$1.0t	US$150.0b	-US$26,582,450,296.63	16.6x	-39.2x	6.9x
Thu, 31 Oct 2024	US$894.4b	US$113.6b	-US$35,812,239,881.01	18.6x	-25x	7.9x
Sat, 28 Sep 2024	US$891.6b	US$113.2b	-US$35,989,290,216.71	21.3x	-24.8x	7.9x
Mon, 26 Aug 2024	US$908.6b	US$113.2b	-US$35,874,993,723.21	23.6x	-25.3x	8x
Wed, 24 Jul 2024	US$1.2t	US$164.5b	-US$28,071,798,540.98	28.8x	-43x	7.3x
Fri, 21 Jun 2024	US$1.1t	US$164.4b	-US$27,914,641,228.07	27.5x	-40.7x	6.9x
Sun, 19 May 2024	US$1.1t	US$164.6b	-US$26,835,738,666.64	23.9x	-42.8x	7x
Tue, 16 Apr 2024	US$1.1t	US$164.3b	-US$23,399,965,626.52	21.4x	-46.9x	6.7x
Thu, 14 Mar 2024	US$1.2t	US$167.4b	-US$22,015,596,093.89	18.8x	-54.1x	7.1x
Sat, 10 Feb 2024	US$1.2t	US$169.3b	-US$26,269,121,791.87	19.8x	-44.2x	6.9x
Mon, 08 Jan 2024	US$1.4t	US$204.8b	-US$22,501,061,722.00	20.5x	-63.1x	6.9x
Wed, 06 Dec 2023	US$1.3t	US$204.6b	-US$22,051,652,521.00	19.3x	-57.6x	6.2x
Fri, 03 Nov 2023	US$1.2t	US$206.8b	-US$20,351,431,827.00	17.2x	-59.7x	5.9x
Sun, 01 Oct 2023	US$1.3t	US$207.4b	-US$13,122,605,528.00	17.1x	-95.8x	6.1x
Tue, 29 Aug 2023	US$1.3t	US$207.6b	-US$12,455,656,838.00	17.5x	-102.5x	6.1x
Thu, 27 Jul 2023	US$1.1t	US$186.8b	-US$16,232,873,446.00	14.3x	-69.8x	6.1x
Sat, 24 Jun 2023	US$1.1t	US$186.2b	-US$16,162,116,001.00	13.6x	-70.3x	6.1x


US Market	2.32%
Healthcare	-0.64%
Biotech	2.46%
Biotech	2.46%

Company	Last Price	7D	1Y	Valuation
GILD Gilead Sciences	US$127.23	4.7% +US$7.1b	17.8%	PE17.1x
AMGN Amgen	US$347.84	3.0% +US$5.5b	20.1%	PE24.1x
MRNA Moderna	US$55.40	20.5% +US$3.7b	118.1%	PS9.9x
VRTX Vertex Pharmaceuticals	US$453.17	1.7% +US$1.9b	2.5%	PE26.5x
RVMD Revolution Medicines	US$156.58	4.7% +US$1.5b	300.1%	PB22.2x

Announcement • Jun 16

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

Allergan Aesthetics, an AbbVie company, announced the U.S. Food and Drug Administration approval of SKINVIVE by JUVÉDERM to reduce neck lines for the improvement of neck appearance in adults over the age of 21. SKINVIVE by JUVÉDERM is the first and only hyaluronic acid injectable indicated to reduce the appearance of neck wrinkles and help skin retain its natural moisture, leading to an improved neck appearance. SKINVIVE by JUVÉDERM reduces neck lines formed by tech-neck by helping the skin retain its natural moisture, softness, and smoothness. Treatment with SKINVIVE by JUVÉDERM is minimally invasive with little to no downtime and is administered using an ultrafine needle or cannula. The product contains a small amount of local anesthetic (lidocaine) to support patient comfort during treatment. Results last six months with optimal treatment. In the randomized, multicenter, evaluator-blinded, controlled pivotal clinical study, 74.8% (78.5/105) of participants treated in the neck with SKINVIVE by JUVÉDERM saw clinically significant (= 1 point) improvement on the validated 5-grade photonumeric Allergan Transverse Neck Lines Scale (ATNLS) at one month. Most participants (66% or 64/97) maintained = 1 point improvement in horizontal neck lines at six months. Participants who demonstrated improvement from baseline in overall score stayed high (=78%) at all timepoints during the study. Participants in the clinical study reported experiencing adverse events such as redness, bruising, tenderness, lumps/bumps, swelling, firmness, pain, discoloration, and itching at the injection sites, as reported in their electronic diaries. These adverse events were usually mild (causing little discomfort and no effect on daily activities), did not require treatment, and resolved within two weeks. Severe adverse events were experienced by less than 5% of participants (7/147 reporting adverse events). These adverse events were reported similarly or less frequently after touch-ups and repeat treatments. The FDA has required that Allergan Aesthetics provide a training program for all interested providers. Successful completion of this training is necessary prior to purchase of and administration of SKINVIVE by JUVÉDERM. Allergan Aesthetics anticipates that SKINVIVE by JUVÉDERM for the improvement of neck appearance will be broadly commercially available later this year. SKINVIVE by JUVÉDERM injectable gel is an injection to improve skin smoothness of the cheeks in adults over the age of 21. SKINVIVE by JUVÉDERM injectable gel is an injection to reduce neck lines for improvement of neck appearance in adults over the age of 21. One of the risks with dermal filler injections is the unintentional injection into a blood vessel. The chances of this happening are very small, but if it does happen, the complications can be serious and may be permanent. These complications, which have been reported for facial injections, can include vision abnormalities, blindness, stroke, temporary scabs, or permanent scarring of the skin. Most of these events are irreversible. The use of this product where skin sores, pimples, rashes, hives, cysts, or infections are present should be postponed, as this may delay healing or make skin problems worse. The effectiveness of removal of any dermal filler has not been studied. Avoid applying makeup for 12 hours after treatment. Minimize strenuous exercise, exposure to extensive sun or heat, and alcoholic beverages within the first 24 hours following treatment. Exposure to any of these may cause temporary redness, swelling, and/or itching at the injection site. Tell your specialist if you are using any medication that can prolong bleeding, such as aspirin, ibuprofen, or other blood thinners, as this may increase bruising or bleeding at the injection site. Tell your specialist if you are planning laser treatment, chemical peeling, or any other procedure after SKINVIVE by JUVÉDERM. There is a possible risk of an inflammatory reaction at the treatment site. This product is intended for improving skin smoothness of the cheeks and reducing neck lines. The safety and effectiveness for treatment in other areas of the body have not been established. Tell your specialist if you are on therapy used to decrease the body's immune response, as treatment may result in an increased risk of infection. Tell your specialist if you are pregnant or breastfeeding. The safety for use during pregnancy, or in women who are breastfeeding, has not been studied. Tell your specialist if you have a history of excessive scarring (thick, hard scars). The safety of this product in patients with a history of excessive scarring has not been studied and may result in additional scars. Tell your specialist if you have a history of pigmentation disorders, as use of this product in patients with a history of pigmentation disorders has not been studied and may result in changes in pigmentation. The most commonly reported side effects were redness, lumps/bumps, swelling, bruising, pain, tenderness, firmness, discoloration and itching. Most side effects will resolve within 2 weeks. If they persist longer, your physician may choose to treat them with medications, such as antibiotics, steroids, or hyaluronidase. Additionally, there have been reports of inflammation, nodules, unsatisfactory result, loss or lack of improvement, allergic reaction, anxiety, blood vessel blockage, infection, dry skin, increase or decrease in sensation, and abscess. Delayed-onset inflammation near the site of dermal filler injections is one of the known adverse events associated with dermal fillers. As with all skin injection procedures, there is a risk of infection. SKINVIVE by JUVÉDERM is available only by a licensed physician or properly licensed practitioner.

Announcement • Jun 15

Ascendis Pharma Reports Week 182 Data From Phase 3 PaTHway Trial Demonstrating Sustained Efficacy And Safety Of TransCon PTH In Adults With Hypoparathyroidism

Ascendis Pharma announced Week 182 data from its completed Phase 3 PaTHway Trial showing that long-term treatment with TransCon PTH (palopegteriparatide) demonstrated sustained efficacy and safety in adults with hypoparathyroidism. Over the three-and-a-half-year duration of the trial, TransCon PTH replicated the systemic actions of endogenous PTH, with a balanced, beneficial impact on the main target organ systems – CNS, kidney, small intestine, and bone – as demonstrated by improved quality of life and normalized and stable urine calcium, serum calcium, serum phosphate, and bone mineral density. These benefits were sustained while enabling independence from conventional therapy with active vitamin D and calcium. Highlights of Week 182 Results from the Phase 3 PaTHway Trial: 86% of patients were responders for the multi-component endpoint of (1) serum calcium in the normal range, (2) taking no active vitamin D, and (3) taking =600 mg/day of calcium. 89% of patients had normal albumin-adjusted serum calcium levels and a mean value of 8.8 mg/dL. 100% of patients achieved independence from active vitamin D, defined as not taking calcitriol or alfacalcidol. 96% of patients achieved independence from therapeutic doses of calcium, defined as taking <600 mg/day of calcium. Significant improvements in kidney function were maintained, with mean (SE) eGFR of 80.2 (1.8) mL/min/1.73 m2 at Week 182, reflecting a mean (SE) increase of 11.0 (1.4) mL/min/1.73 m2 from baseline. Among patients randomized to TransCon PTH, eGFR increased from baseline through Week 38 and stabilized thereafter. After initiation of open-label treatment at Week 26, patients who had been receiving placebo in the double-blind period experienced a similar increase in eGFR. Following these eGFR increases, mean eGFR values were maintained through Week 182, in contrast to the expected typical age-related decline in eGFR in adults. Mean 24-hour urine calcium decreased substantially, normalized within 26 weeks, and remained normal through Week 182. As measured by Hypoparathyroidism Patient Experience Scales (HPES), patients reported improvements in symptoms and health-related quality of life across all domains. Hypoparathyroidism-related physical and cognitive symptoms and impacts on physical functioning and daily life improved rapidly with TransCon PTH treatment and were maintained through Week 182. As measured by SF-36, all subscale scores and component summary scores demonstrated rapid and clinically meaningful improvements with TransCon PTH treatment which were sustained through Week 182. Mean BMD Z-scores (matched for age and sex) corrected from high baseline levels through Week 26 and remained above 0 through Week 182. In the trial, TransCon PTH treatment was generally well-tolerated, with no new safety signals identified. Treatment-emergent adverse events (AEs) were mostly mild or moderate, and no discontinuations were related to study drug. Over three and a half years of treatment, no patients developed anti-PTH antibodies. The PaTHway Trial of 82 adults with hypoparathyroidism (85% post-surgical, 15% non-surgical) included a 26-week randomized, double-blind, placebo-controlled period followed by a 156-week open-label extension (OLE) period, and measured a wide array of clinical, biochemical, and quality of life endpoints, consistent with the breadth of negative long-term impacts experienced by patients with hypoparathyroidism. Seventy-three of the original 82 patients enrolled (89%) completed the three-and-a-half-year trial. Endpoints included independence from conventional therapy (defined as <600 mg/day of calcium and no active vitamin D) and maintenance of normocalcemia (8.3 to 10.6 mg/dL). Renal function was assessed by estimated glomerular filtration rate (eGFR). Bone mineral density (BMD) measured by DXA scan was assessed at baseline and regular intervals through Week 182. Hypoparathyroidism-related symptoms and functional impacts were measured using the HPES. Health-related quality of life was measured using the 36-Item Short Form Survey (SF-36 version 2). Safety assessments included treatment-emergent AEs and 24-hour urine calcium excretion. TransCon PTH is a prodrug of PTH (1-34), administered once daily, designed to provide stable levels of active PTH within the physiological range for 24 hours/day, approved as YORVIPATH in the United States, European Union, European Economic Area, and certain other jurisdictions as a treatment for adults with hypoparathyroidism.

U.S. Biotech Industry Analysis

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