The annual BIO International Convention finally resumed in person on 13 June in San Diego after COVID-19 kept the industry from meeting face-to-face in 2020 and 2021 – but the conference comes at a tumultuous time for biopharmaceutical companies. The convention, a prime venue for partnering discussions, may be occurring just in time for firms that could benefit from some collaboration cash while other financing sources may be elusive.
Turbulent trading in the stock market mainly due to macroeconomic concerns – rising inflation, shrinking inventories and the war in Ukraine – has had a big impact on biopharma company valuations, which have been plummeting since the second half of 2021. (Also see "Global Uncertainty Is Impacting Deal-Making, Investment Decisions" - Scrip, 2 April, 2022.) Many drug developers have restructured, implementing significant job cuts in the process, to conserve cash on hand rather than raise money at low valuations
