WEEK ENDED JULY 14th, 2023

Back Bay’s investment banking team tracks biopharma and medtech-healthtech deals across every stage and sector.
The following is a snapshot of deals of note from across the industry.

MARKETS OVERVIEW

  • All major indexes rallied this week as investors digested further optimistic inflation data and a stronger-than-expected start to earnings season

    • Inflation cooled to a 3% June, its slowest place in 2 years

    • NASDAQ 100 notched its best ever 1H performance

  • The NBI closed the week in green, with ACADIA Pharmaceuticals (NASDAQ: ACAD) and Immunovant (NASDAQ: IMVT) being two of the biggest winners

    • Shares of ACADIA Pharmaceuticals shot up nearly 23% on July 14th due to the announcement of their agreement with Neuren Pharmaceuticals (AU: NEU) to develop trofinetide (for the treatment of Rett syndrome) outside of North America