Beam, Prozac, “TechBio” and more

Biotech is thriving with a resurgence in psychiatric drug development and a two-year high for biotech stocks. The field of psychiatry is experiencing a renaissance with promising new medicines expected in 2024. Cytokinetics CEO confirms the company is not for sale but is open to partnership deals. Beam Therapeutics sees a surge in stock price and may capitalize on the market’s interest in genome editing. Recursion, a TechBio company, holds a unique live-streamed earnings call. The market is still adjusting to this linguistic disruption in biotech. Investors are returning to biotech after a downturn, despite challenges like stonewalling from pharmacy benefit managers and Chinese companies canceling IPO plans.

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