Sooooooooo. Either we focus on Small biotech's decreased R&D spending, job cutting and dampening revenues, or on Big biotech's (> $50 M revenues) increase in R&D spending, hiring rebounds and rising revenues.
Apparently, 90% of small biotechs reported losses in 2011 by an average of 12%, and decreased workforces by 3%. The industry as a whole though grew to $76 M from $62 M, and large biotech increased staff by 16%.
Twenty-four percent of Big guys raised equity capital while 64% of small biotech had to go that route as they had little cash from operations to rely upon. At years end, biotechs, on average, held 2.63 years worth of R&D spending in cash or liqud assets. And, a model employing virtual biotechs is gaining momentum.
Posted by Bruce Lehr Sep 25th 2012.