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Merrill updates Bio-Stats
Merrill Lynch analyst Eric Ende summarized recent activity in the biotechnology market, noting that pipeline supply remains at an all-time high of $9.1 billion, with $1.1 billion of deals priced in March. The four-week moving average funds flow is plus $56 million, compared with the prior month's average of minus $63 million. March saw $1.1 billion of new supply come into the market, but February saw $5.6 billion. For March, the ML Therapeutic index decreased 2.6% and the ML Genomics/ Tools Index was flat. The ML Small-Cap Biotech Index decreased 0.6%; the ML Mid-Cap Biotech Index was down 4.5% and the ML Large-Cap Biotech Index was down 2.0%.
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