Max Nisen, Columnist

Biotech's Sentiment Reset

Pricing worries and the downside of a five-year bull run take hold.

January 12, 2016 at 7:21 PM UTC

Max Nisen is a healthcare analyst at Bloomberg Intelligence. He previously wrote for Bloomberg Opinion, Quartz and Business Insider.

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It's biotech prom, and the band never showed up.

A nasty selloff of biotech stocks marred the first day of the usually upbeat JPMorgan health care conference on Monday, the worst trading start to the conference since 2001. There was no Hillary Clinton price tweet panic to explain it. If anything, the day was light on news. Despite that, the Nasdaq Biotech Index (NBI) closed near its autumn low, topping an already disastrous start to the year. It seems the biotech industry is playing to a tougher crowd in 2016.