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 7.7x.

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, 23 Jun 2026	US$1.3t	US$170.0b	-US$12,249,007,019.83	16.8x	-106.5x	7.7x
Thu, 21 May 2026	US$1.3t	US$170.0b	-US$12,791,624,822.69	16.2x	-98.1x	7.4x
Sat, 18 Apr 2026	US$1.3t	US$166.2b	-US$11,948,698,496.89	17.1x	-111.2x	8x
Mon, 16 Mar 2026	US$1.3t	US$169.2b	-US$15,183,509,438.62	20.6x	-85x	7.6x
Wed, 11 Feb 2026	US$1.3t	US$164.5b	-US$14,762,511,997.96	22x	-87.9x	7.9x
Fri, 09 Jan 2026	US$1.3t	US$163.5b	-US$15,084,223,249.58	21.4x	-83.4x	7.7x
Sun, 07 Dec 2025	US$1.2t	US$163.6b	-US$16,089,277,339.72	19.1x	-76.7x	7.5x
Tue, 04 Nov 2025	US$1.1t	US$163.1b	-US$16,314,684,162.78	17x	-69.6x	7x
Thu, 02 Oct 2025	US$1.1t	US$163.5b	-US$18,248,451,852.63	17.2x	-60x	6.7x
Sat, 30 Aug 2025	US$1.1t	US$163.6b	-US$18,635,211,382.37	15.4x	-56.7x	6.5x
Mon, 28 Jul 2025	US$992.7b	US$155.1b	-US$22,919,892,186.15	14.8x	-43.3x	6.4x
Wed, 25 Jun 2025	US$932.9b	US$155.9b	-US$23,877,765,865.02	16.7x	-39.1x	6x
Fri, 23 May 2025	US$907.8b	US$155.9b	-US$24,354,722,512.98	15.6x	-37.3x	5.8x
Sun, 20 Apr 2025	US$756.8b	US$119.2b	-US$36,619,881,205.07	19.4x	-20.7x	6.3x
Tue, 18 Mar 2025	US$839.1b	US$118.4b	-US$37,618,768,555.54	19.9x	-22.3x	7.1x
Thu, 13 Feb 2025	US$815.2b	US$118.2b	-US$35,533,913,315.57	17x	-22.9x	6.9x
Sat, 11 Jan 2025	US$967.2b	US$149.4b	-US$26,283,970,082.71	16.6x	-36.8x	6.5x
Mon, 09 Dec 2024	US$1.0t	US$150.0b	-US$26,481,489,967.01	17.9x	-39.1x	6.9x
Wed, 06 Nov 2024	US$1.1t	US$148.1b	-US$30,555,050,448.51	16.6x	-34.9x	7.2x
Fri, 04 Oct 2024	US$891.6b	US$113.2b	-US$35,958,059,033.08	22x	-24.8x	7.9x
Sun, 01 Sep 2024	US$909.4b	US$113.1b	-US$35,712,101,098.38	24x	-25.5x	8x
Tue, 30 Jul 2024	US$1.2t	US$164.9b	-US$28,963,503,229.83	26.8x	-43x	7.5x
Thu, 27 Jun 2024	US$1.2t	US$164.4b	-US$27,986,453,486.34	27.7x	-41.4x	7x
Sat, 25 May 2024	US$1.1t	US$164.6b	-US$26,747,196,206.43	23.8x	-42.1x	6.8x
Mon, 22 Apr 2024	US$1.1t	US$164.2b	-US$23,311,155,066.52	20.4x	-45.9x	6.5x
Wed, 20 Mar 2024	US$1.2t	US$167.4b	-US$21,814,367,317.91	13.8x	-53.5x	7x
Fri, 16 Feb 2024	US$1.2t	US$169.1b	-US$20,723,712,339.70	18.7x	-55.6x	6.8x
Sun, 14 Jan 2024	US$1.4t	US$204.8b	-US$22,497,556,941.00	18.8x	-63.9x	7x
Tue, 12 Dec 2023	US$1.3t	US$204.6b	-US$22,091,146,901.00	18.7x	-58.6x	6.3x
Thu, 09 Nov 2023	US$1.2t	US$204.1b	-US$20,943,935,957.00	16.6x	-59.3x	6.1x
Sat, 07 Oct 2023	US$1.3t	US$207.4b	-US$13,060,168,797.00	17.2x	-96.3x	6.1x
Mon, 04 Sep 2023	US$1.3t	US$207.6b	-US$12,421,503,459.00	18.4x	-104.2x	6.2x
Wed, 02 Aug 2023	US$1.1t	US$186.2b	-US$14,964,083,330.00	14.7x	-76.4x	6.1x
Fri, 30 Jun 2023	US$1.1t	US$186.2b	-US$16,044,205,476.00	13.6x	-69.4x	6x


US Market	-1.82%
Healthcare	-1.04%
Biotech	2.84%
Biotech	2.84%

Company	Last Price	7D	1Y	Valuation
ABBV AbbVie	US$230.01	3.8% +US$14.9b	25.2%	PE113x
VRTX Vertex Pharmaceuticals	US$466.79	3.0% +US$3.5b	3.7%	PE27.3x
MRNA Moderna	US$59.35	13.8% +US$2.9b	131.2%	PS10.6x
NTRA Natera	US$228.80	5.5% +US$1.7b	34.3%	PS13.1x
SYRE Spyre Therapeutics	US$100.32	20.0% +US$1.5b	583.4%	PB16.9x

Announcement • 6h

Abbvie Announces European Commission Approval of Skyrizi for Treatment of Pediatric Patients with Moderate to Severe Plaque Psoriasis

AbbVie announced that the European Commission (EC) has approved SKYRIZI (risankizumab) for the treatment of children and adolescents six years of age and older with moderate to severe plaque psoriasis who are candidates for systemic therapy. The approval includes a new 55 mg pre-filled syringe (PFS) to support weight-based dosing for patients weighing less than 40 kg. Nearly a third of people living with psoriasis develop symptoms before the age of 18, often getting lesions on highly visible areas. Because children often have facial or scalp involvement, the early-onset of psoriasis increases the risk of school absenteeism, potential social stigma, and development of other comorbidities. Despite the significant impact of the disease on children's quality of life, nearly 70% of pediatric patients rely solely on topical therapies. The EC's approval of SKYRIZI in pediatric patients is supported by clinical data from the Phase 3 OptIMMize-1 pediatric psoriasis program (NCT04435600), including data from two lead-in pharmacokinetic cohorts: a randomized efficacy assessor-blinded, active-controlled cohort. SKYRIZI is an interleukin (IL)-23 inhibitor that selectively blocks IL-23 by binding to its p19 subunit. IL-23, a cytokine involved in inflammatory processes, is thought to be linked to a number of chronic immune-mediated diseases. SKYRIZI is approved by the U.S. Food and Drug Administration and the European Medicines Agency for the treatment of plaque psoriasis, psoriatic arthritis, Crohn's disease and ulcerative colitis in adults. Skyrizi (risankizumab) is indicated for the treatment of moderate to severe plaque psoriasis in adults who are candidates for systemic therapy. Skyrizi is indicated for the treatment of moderate to severe plaque psoriasis in children and adolescents from the age of 6 years who are candidates for systemic therapy. Skyrizi, alone or in combination with methotrexate (MTX), is indicated for the treatment of active psoriatic arthritis in adults who have had an inadequate response or who have been intolerant to one or more disease-modifying antirheumatic drugs (DMARDs). Skyrizi is indicated for the treatment of adult patients with moderately to severely active Crohn's disease who have had an inadequate response to, lost response to, or were intolerant to conventional therapy or a biologic therapy. Skyrizi is indicated for the treatment of adult patients with moderately to severely active ulcerative colitis who have had an inadequate response to, lost response to, or were intolerant to conventional therapy or a biologic therapy. Risankizumab is contraindicated in patients hypersensitive to the active substance or to any of the excipients, and in patients with clinically important active infections (e.g. active tuberculosis). Risankizumab may increase the risk of infection. In patients with a chronic infection, a history of recurrent infection, or known risk factors for infection, risankizumab should be used with caution. Treatment with risankizumab should not be initiated in patients with any clinically important active infection until the infection resolves or is adequately treated. Patients treated with risankizumab should be instructed to seek medical advice if signs or symptoms of clinically important chronic or acute infection occur. If a patient develops such an infection or is not responding to standard therapy for the infection, the patient should be closely monitored and risankizumab should not be administered until the infection resolves. Prior to initiating treatment with risankizumab, patients should be evaluated for tuberculosis (TB) infection. Patients receiving risankizumab should be monitored for signs and symptoms of active TB. Anti-TB therapy should be considered prior to initiating risankizumab in patients with a past history of latent or active TB in whom an adequate course of treatment cannot be confirmed. Prior to initiating therapy with risankizumab, completion of all appropriate immunisations should be considered according to current immunisation guidelines. If a patient has received live vaccination (viral or bacterial), it is recommended to wait at least 4 weeks prior to starting treatment with risankizumab. Patients treated with risankizumab should not receive live vaccines during treatment and for at least 21 weeks after treatment. Serious hypersensitivity reactions, including anaphylaxis, have been reported with use of risankizumab. If a serious hypersensitivity reaction occurs, administration of risankizumab should be discontinued immediately and appropriate therapy initiated. The most frequently reported adverse reactions were upper respiratory infections (13% in psoriasis, 15.6% in Crohn's disease and 26.2% in ulcerative colitis). Commonly (= 1/100 to < 1/10) reported adverse reactions included tinea infections, headache, pruritus, rash, eczema, fatigue, and injection site reactions. This is not a complete summary of all safety information.

Announcement • Jun 22

Exelixis Provides Update on the Phase 3 Stellar-303 Trial Evaluating Zanzalintinib in Combination with an Immune Checkpoint Inhibitor in Patients with Metastatic Colorectal Cancer

Exelixis, Inc. announced results from the final analysis of the dual primary endpoint of overall survival (OS) in the subset of patients without active liver metastases (non-liver metastases, NLM) in the phase 3 STELLAR-303 pivotal trial evaluating zanzalintinib in combination with atezolizumab versus regorafenib in previously treated non-microsatellite instability (MSI)-high metastatic colorectal cancer (mCRC). The results showed a non-statistically significant trend in OS favoring the combination in the NLM subpopulation (stratified hazard ratio: 0.83; 95% confidence interval: 0.66–1.05; P=0.1185), with median OS values of 15.9 months with zanzalintinib in combination with atezolizumab, and 12.7 months with regorafenib. The safety profile of zanzalintinib in combination with atezolizumab in the NLM subgroup was consistent with that previously reported in the intention-to-treat (ITT) population, and no new safety signals were identified. Exelixis previously announced that STELLAR-303 met its other dual primary endpoint, demonstrating a statistically significant improvement in OS in the ITT population, which included all randomized patients regardless of the presence of active liver metastases. Detailed results demonstrating the statistically significant improvement in OS in the ITT population were presented at the 2025 European Society for Medical Oncology Congress and published in The Lancet. In February 2026, Exelixis announced that the U.S. Food and Drug Administration (FDA) accepted the company’s New Drug Application (NDA) for zanzalintinib, in combination with atezolizumab, for the treatment of patients with mCRC who have been previously treated with fluoropyrimidine-, oxaliplatin- and irinotecan-based chemotherapy, and, if RAS wild-type, an anti-epidermal growth factor receptor (EGFR) therapy. The FDA assigned a Prescription Drug User Fee Act target action date of December 3, 2026. Detailed findings from the NLM subgroup analysis will be submitted for presentation at an upcoming medical conference. STELLAR-303 (NCT05425940) is a global, multicenter, randomized, phase 3, open-label study that randomized patients 1:1 to either zanzalintinib in combination with atezolizumab (n=451) or regorafenib (n=450). The study includes patients with previously treated non-MSI-high mCRC. The dual primary endpoints of the study are OS in the ITT population and in the NLM subgroup of patients. The ITT population consisted of all randomized patients, regardless of the presence of liver metastases. The NLM subgroup consisted of patients who did not have active liver metastases at baseline as determined by investigator assessment. Secondary endpoints include progression-free survival, objective response rate and duration of response in the ITT population and in the NLM subgroup of patients. Zanzalintinib is a novel oral kinase inhibitor that inhibits the activity of the TAM kinases (TYRO3, AXL, MER), MET and VEGF receptors. These kinases play important roles in oncogenic processes, including tumor cell proliferation, metastasis, angiogenesis, drug resistance and evasion of antitumor immunity. The zanzalintinib development program includes a series of ongoing and planned pivotal trials to explore its therapeutic potential in CRC, clear cell and non-clear cell renal cell carcinoma, and neuroendocrine tumors, as well as earlier-stage trials in meningioma, lung cancer and castration-resistant prostate cancer. Zanzalintinib is an investigational agent that is not approved for any use and is the subject of ongoing clinical trials.

U.S. Biotech Industry Analysis

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Latest News

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Abbvie Announces European Commission Approval of Skyrizi for Treatment of Pediatric Patients with Moderate to Severe Plaque Psoriasis

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