The biotechnology industry had a rough first quarter after a decent performance in 2023. The majority of biotech players do not generate enough revenues to fund their operations and are dependent on external funds. A company starts generating revenues following a successful FDA approval and the launch of a drug.  Under this circumstance, a high interest rate regime is detrimental to the biotech industry. The primary reason for the industry’s weak performance year to date is that the Fed refrained from reduc ...