Here is a look at year to date (YTD) numbers through the end of February for the biotech indices, initial public offerings, and recent FDA Approvals.
1. Indices: The Nasdaq Biotech Index held the January jump through February, settling at + 14% YTD. The concentrated BTK slipped in February, but has outpaced the NBI since January 1st. YTD, both biotech indices have significantly outperformed the broader market. In contrast, the NYSE Pharmaceuticals Index has not moved.
2. IPOs: In February we saw three biotechs go public, making a YTD total of four IPOs.
3. FDA Approvals: One novel drug approval in February brings the total to seven for 2012 YTD.