Finance Watch: Biopharma Stocks Attempt An April Rebound

Biotechnology stocks in the US are still trading lower year-to-date, but valuations have risen significantly in April, suggesting that perhaps the winter chill hovering over the industry is beginning a spring thaw. The XBI fund is down 0.9% so far in 2023, but it has gained 8% since the end of March. As of 21 April, the Nasdaq Biotechnology Index (NBI) is up just 1.5% year-to-date but has gained 3.6% since last month.