Nasdaq biotech index hits over 2-1/2 yr high

Pacific Biosciences of California

16/07/2024 19:01

** Shares of the Nasdaq biotech index up 1.3% at 4.885.99
points in afternoon trading  
    ** Index hits over 2-1/2 yr high 
    ** Early stage biotechs rely heavily on venture capital and
public listings as their financing options; IPO investment in
biotechs is showing signs of further recovery this year
    ** Top movers include Pacific Biosciences  PACB.O , Caribou
Biosciences  CRBU.O  and Grail  GRAL.O   
    ** The index has risen 6.8% in the week ended July 12
    ** YTD, the index is up 11.8% 

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))