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 7.1x is lower than the industry's current PS ratio of 8.6x.

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
Thu, 10 Sep 2026	US$1.5t	US$173.0b	-US$20,284,063,026.11	16.8x	-73.6x	8.6x
Sat, 08 Aug 2026	US$1.4t	US$172.3b	-US$23,354,850,417.96	17.3x	-60.5x	8.2x
Mon, 06 Jul 2026	US$1.5t	US$169.9b	-US$12,048,903,585.03	17.3x	-120.5x	8.5x
Wed, 03 Jun 2026	US$1.3t	US$170.1b	-US$12,254,543,832.39	15.9x	-104.2x	7.5x
Fri, 01 May 2026	US$1.3t	US$166.4b	-US$11,523,557,783.41	16.3x	-109x	7.5x
Sun, 29 Mar 2026	US$1.2t	US$166.1b	-US$13,456,373,319.70	15.1x	-91.1x	7.4x
Tue, 24 Feb 2026	US$1.3t	US$168.1b	-US$13,480,534,435.81	22.3x	-99.3x	8x
Thu, 22 Jan 2026	US$1.2t	US$163.5b	-US$15,109,734,670.47	19.7x	-81.1x	7.5x
Sat, 20 Dec 2025	US$1.2t	US$163.6b	-US$15,771,044,262.73	20.7x	-76.3x	7.4x
Mon, 17 Nov 2025	US$1.2t	US$163.9b	-US$16,321,163,359.01	17.4x	-72.6x	7.2x
Wed, 15 Oct 2025	US$1.1t	US$163.4b	-US$18,202,723,107.49	17.1x	-62.7x	7x
Fri, 12 Sep 2025	US$1.1t	US$163.6b	-US$18,333,642,586.05	15.5x	-58.4x	6.6x
Sun, 10 Aug 2025	US$1.0t	US$163.2b	-US$15,518,415,597.78	13.7x	-65.7x	6.3x
Tue, 08 Jul 2025	US$960.1b	US$155.8b	-US$23,411,059,915.00	16.5x	-41x	6.2x
Thu, 05 Jun 2025	US$932.3b	US$155.9b	-US$23,955,369,687.02	16.6x	-38.9x	6x
Sat, 03 May 2025	US$948.4b	US$153.8b	-US$24,594,164,084.66	20.9x	-38.6x	6.2x
Mon, 31 Mar 2025	US$816.7b	US$118.6b	-US$36,941,707,628.60	24.4x	-22.1x	6.9x
Wed, 26 Feb 2025	US$854.7b	US$117.1b	-US$37,887,617,142.35	17.4x	-22.6x	7.3x
Fri, 24 Jan 2025	US$972.9b	US$149.5b	-US$26,306,845,907.11	17.4x	-37x	6.5x
Sun, 22 Dec 2024	US$956.2b	US$149.9b	-US$26,389,992,070.38	15.7x	-36.2x	6.4x
Tue, 19 Nov 2024	US$990.8b	US$150.0b	-US$26,801,381,083.88	17.2x	-37x	6.6x
Thu, 17 Oct 2024	US$909.2b	US$113.1b	-US$36,028,650,557.25	21.9x	-25.2x	8x
Sat, 14 Sep 2024	US$913.2b	US$113.2b	-US$35,849,665,110.59	23.4x	-25.5x	8.1x
Mon, 12 Aug 2024	US$862.3b	US$112.7b	-US$36,815,169,721.78	21.6x	-23.4x	7.7x
Wed, 10 Jul 2024	US$1.1t	US$164.5b	-US$28,071,564,685.96	28.5x	-40.7x	6.9x
Fri, 07 Jun 2024	US$1.2t	US$164.6b	-US$26,702,448,993.85	28x	-43.3x	7x
Sun, 05 May 2024	US$1.1t	US$163.7b	-US$26,731,775,868.34	24.3x	-42x	6.9x
Tue, 02 Apr 2024	US$1.2t	US$164.5b	-US$23,680,262,586.04	24.1x	-49.8x	7.2x
Thu, 29 Feb 2024	US$1.2t	US$167.4b	-US$21,465,686,557.06	13.4x	-56.3x	7.2x
Sat, 27 Jan 2024	US$1.4t	US$204.7b	-US$22,646,483,045.00	18.3x	-63.4x	7x
Mon, 25 Dec 2023	US$1.4t	US$204.9b	-US$22,149,017,627.00	19.4x	-61.9x	6.7x
Wed, 22 Nov 2023	US$1.2t	US$204.7b	-US$22,046,246,661.00	18.1x	-55.4x	6x
Fri, 20 Oct 2023	US$1.2t	US$207.4b	-US$13,089,607,875.00	16.6x	-93.9x	5.9x
Sun, 17 Sep 2023	US$1.3t	US$207.5b	-US$12,865,929,372.00	17.5x	-99.8x	6.2x


US Market	-0.22%
Healthcare	-3.36%
Biotech	-4.37%
Biotech	-4.37%

Company	Last Price	7D	1Y	Valuation
ROIV Roivant Sciences	US$41.81	22.3% +US$5.5b	203.6%	PS4009.6x
SMMT Summit Therapeutics	US$17.54	20.1% +US$2.3b	-0.4%	PB22.2x
NTRA Natera	US$330.31	1.6% +US$741.6m	94.5%	PS17.6x
UTHR United Therapeutics	US$506.82	3.0% +US$634.8m	27.8%	PE16.6x
INSM Insmed	US$128.80	1.7% +US$473.9m	-11.7%	PS24.7x

Announcement • 19h

Compass Pathways Reports New 52-Week Topline Open-Label Data From Phase 3 COMP005 Trial Demonstrating Additional Benefit From Another COMP360 Dose In Part C Extending Durability Out To 1 Year

Compass Pathways plc announced the topline 52-week results (Part C) from its Phase 3 COMP005 trial of COMP360, a synthetic, proprietary formulation of psilocybin, for treatment-resistant depression (TRD) which further support COMP360’s differentiated profile and potential for long lasting benefit. The open-label Part C data demonstrate four important findings: first, notable additional benefit was observed with an added reduction in MADRS score leading to an average 13-point reduction from baseline at Week 52 and extended out to 1 year for participants who were randomized to the 25 mg arm and received an additional dose in Part C; second, for participants in the Placebo arm who received their first dose of COMP360 25 mg in Part C, these findings further reinforce that a single dose of 25 mg has the potential to produce rapid onset, meaningful effect and durability; third, for all participants in Part C who received a 25 mg dose, strong response and remission rates were observed with 40%-45% responders and approximately 30% remitters across all timepoints in the 6 weeks post the Part C dose; and finally, the COMP360 safety profile in Part C is consistent with Parts A and B and continues to show a generally well-tolerated and safe profile with no new safety findings. The COMP005 trial was a randomized, double-blind, placebo-controlled study, that enrolled 258 participants in the United States assessing the safety and efficacy of a single dose of 25 mg COMP360 versus placebo for reducing symptom severity in TRD. The trial was comprised of three parts: In Part A, blinded through Week 6, eligible participants were randomized (2:1) to receive a single dose of 25 mg of COMP360 or placebo; In Part B, blinded from Weeks 6 to 26, eligible participants could receive an additional dose of the same treatment to which they were originally randomized; In Part C, open-label from Week 26 to 52, eligible participants from both dosing arms could receive a single dose of 25 mg. Approximately 70% of the study participants continued beyond Week 26 and entered Part C: 25 mg Arm: Approximately 80% (n=90) who entered Part C received an additional open-label dose; this was their second or third dose depending on whether they received an additional dose in Part B; Placebo Arm: Approximately 90% (n=52) who entered Part C received an open-label 25 mg dose; this was their first dose of COMP360 25 mg given they received placebo in parts A and B. For participants who had originally been randomized to the 25 mg arm, and continued into Part C and received another dose: Notable additional benefit observed at all Part C timepoints through Week 52, with additional meaningful reduction in MADRS beyond what had been observed in Parts A and B, with an average 13-point reduction from baseline at Week 52. Given participants in 25 mg arm had one or two prior doses, these findings provide continued evidence that an additional dose of COMP360 25 mg may further deepen clinical response and extend its durability out to 1 year. For participants who had originally been randomized to the Placebo arm and continued into Part C, and were eligible to receive their first dose of COMP360 25 mg in this open-label portion of the trial: Data provides further evidence that a single dose of COMP360 25 mg has the potential to produce rapid onset, meaningful effect, and durability. Meaningful average reduction of 10 points from baseline in MADRS at end of Part C from one dose. For all participants who received a 25 mg COMP360 dose in open-label Part C, whether they originally were in the Placebo arm and this was their first dose, or they were originally in the 25 mg arm and this was their second or third dose: 40%-45% response rates (Responder: =50% decrease in total score from baseline) were observed between Day 1 and Week 6 following COMP360 25 mg Part C treatment. Approximately 30% remission rates (Remitter: =12 MADRS total score and no single item =4) were observed between Day 1 and Week 6 following COMP360 25 mg Part C treatment. COMP360 safety profile in Part C is consistent with Parts A and B. COMP360 continues to demonstrate a generally well-tolerated and safe profile, with no new safety signals observed. The COMP360 program aims to evaluate the safety and efficacy of COMP360 psilocybin, a synthetic, proprietary formulation of psilocybin under investigation for difficult-to-treat mental health conditions. There are two pivotal Phase 3 trials, COMP005 and COMP006, evaluating the efficacy of COMP360 for treatment-resistant depression (TRD). The ongoing COMP006 trial, is a randomized, double-blind study with 581 dosed participants across North America and Europe and is comparing the efficacy and safety of two fixed doses, taken three weeks apart, of 25 mg COMP360 to 10 mg COMP360 and 1 mg COMP360 (25 mg: n=296; 10 mg: n=142; 1 mg: n=143). There is a potential for a total of 4 doses of COMP360 across a 52-week period. The trial is comprised of three parts: Part A, which was blinded through 9 weeks, Part B which recently concluded and remained blinded through week 26, and Part C, which contains an open-label treatment part from week 26 to 52. The COMP005 trial was a randomized, double-blind, placebo-controlled study, which enrolled 258 participants across the United States assessing the efficacy and safety of a single dose of 25 mg COMP360 versus placebo for reducing symptom severity in TRD (COMP360 25 mg: n=171; placebo: n=87). There was a potential for a total of 3 doses of COMP360 across a 52-week period. The trial was comprised of three parts: Part A, which was blinded through 6 weeks; Part B, which was blinded through week 26; and Part C, which had an open-label treatment part from week 26 to 52.

Announcement • Aug 30

Cytokinetics, Incorporated Announces Additional Results From ACACIA-HCM And MAPLE-HCM Trials

Cytokinetics, Incorporated announced that additional results from ACACIA-HCM (Assessment Comparing Aficamten to Placebo on Cardiac Endpoints In Adults with Non-Obstructive HCM) and MAPLE-HCM (Metoprolol vs Aficamten in Patients with LVOT Obstruction on Exercise Capacity in HCM) were presented in a Late Breaking Clinical Session at the European Society of Cardiology (ESC) Congress 2026 in Munich, Germany and simultaneously published in Circulation and the Journal of the American College of Cardiology: Heart Failure, respectively. Results from a pre-specified exploratory analysis of ACACIA-HCM, the Phase 3 clinical trial of aficamten in patients with symptomatic non-obstructive hypertrophic cardiomyopathy (nHCM), were presented in a Late Breaking Clinical Trial Session and simultaneously published in Circulation. As previously reported, the primary results from ACACIA-HCM showed that treatment with aficamten was associated with significant improvements from baseline to Week 36 compared to placebo in both Kansas City Cardiomyopathy Questionnaire Clinical Summary Score (KCCQ-CSS) and maximal exercise performance (pVO2). This analysis showed that treatment with aficamten also demonstrated improvements in measures of cardiac structure and diastolic function at the time of the primary analysis (36 weeks) and at end of treatment (EOT) (up to 72 weeks; median time to end of treatment = 49 weeks). At Week 36 and at EOT, aficamten significantly improved measures of diastolic function including peak E velocity (p=0.001 and p=0.034, respectively) and septal e’ velocity (p. MYQORZO is contraindicated with concomitant use of rifampin. MYQORZO reduces cardiac contractility, which can reduce LVEF and cause heart failure. Patients who experience a serious intercurrent illness (eg, serious infection) or arrhythmia (eg, new or uncontrolled atrial fibrillation) may be at greater risk of developing systolic dysfunction and heart failure. Assess patients’ clinical status and LVEF prior to and during treatment and adjust the MYQORZO dose accordingly. New or worsening arrhythmia, dyspnea, chest pain, fatigue, leg edema, or elevations in N-terminal pro-B-type natriuretic peptide may be signs and symptoms of heart failure. Initiation of MYQORZO in patients with LVEF. Patients must enroll in the MYQORZO REMS Program and comply with ongoing monitoring requirements. Pharmacies must be certified by enrolling in the MYQORZO REMS Program and must only dispense to patients who are authorized to receive MYQORZO. Wholesalers and distributors must only distribute to certified pharmacies. MYQORZO is metabolized primarily by CYP2C9, and to a lesser extent by CYP3A, CYP2D6, and CYP2C19 enzymes. Initiation of medications that inhibit multiple P450 pathways of MYQORZO elimination (eg, fluconazole, voriconazole, or fluvoxamine) or strong CYP2C9 inhibitors, and discontinuation of moderate-to-strong CYP3A inducers may lead to increased blood concentrations of aficamten and increase the risk of heart failure due to systolic dysfunction. Conversely, initiation of medications that induce P450 pathways of MYQORZO (eg, rifampin, moderate-to-strong CYP3A inducers) may lead to decreased blood concentrations of aficamten and potential loss of effectiveness. Assess LVEF 2 to 8 weeks after initiation of such inhibitors or after discontinuation of such inducers and adjust the dose of MYQORZO accordingly. Advise patients of the potential for drug interactions. Advise patients to inform their healthcare provider of all concomitant medications prior to and during MYQORZO treatment. Hypertension (8% vs 2%) was the only adverse reaction occurring in >5% of patients and more commonly on MYQORZO than on placebo in the pivotal trial. MYQORZO is indicated for the treatment of adults with symptomatic obstructive hypertrophic cardiomyopathy (oHCM) to improve functional capacity and symptoms. MYQORZO is a cardiac myosin inhibitor approved in the approved in the U.S., China, European Union and United Kingdom for the treatment of adults with symptomatic obstructive hypertrophic cardiomyopathy (oHCM). Following positive results in ACACIA-HCM, a Phase 3 clinical trial of aficamten in patients with non-obstructive HCM (nHCM), the company plans to submit a Supplemental New Drug Application in Fourth Quarter 2026.

U.S. Biotech Industry Analysis

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Cytokinetics, Incorporated Announces Additional Results From ACACIA-HCM And MAPLE-HCM Trials