Ep 19: Peeling Back the Onion on Heading into 2H 2024

In this episode, Bob and David peeled back the onion from the prior episode in which the two discussed the current state of the life sciences ecosystem through the halfway point of 2024. They offered their thoughts and views on what they are seeing in the private and public markets from a transactions standpoint and what the back half of 2024 may bring.

Data and activities surrounding healthcare venture financing have demonstrated a return to pre-pandemic levels. We believe that the private funding markets are well positioned for continued activity during the back half of 2024 given cash needs of many emerging healthcare companies. 

The market confidence surrounding interest rate cuts in H2 2024 (starting in September) could continue to prompt generalist investor attention to small and mid-cap companies benefiting healthcare markets. The market’s recent rise can be partly attributed to investors pricing in near-term rate cuts, increasing drawdown risk if the Fed does not adhere to market expectations.

As interest rate cuts seem imminent, we expect increased capital to be rotated into new funds, deployed into more emerging start-ups, small- and mid-caps, and into M&A/ licensing – consistent with what we are seeing so far in late 1H 2024 and early H2 2024. The ample liquidity in the market provides further catalysts for healthcare performance and deal activities, as big pharma’s and specialist investors’ large cash reserves could further accelerate deal activity.  

It's still a case of "survive to '25'" in light of the tailwinds we are experiencing.

Listen here to our journey. Dive in and ride the innovation wave. Be informed, be inspired, be innovative!

About Innovation Wave Podcast

Innovation Wave is a life sciences dedicated podcast produced by co-hosts Bob McGriff and David H. Crean. Relevant topics within the ecosystem related to the growth and exit of businesses are discussed in candor with entrepreneurs, key executives, influencers, and thought leaders in 15-20 minute episodes.

Disclosure

This podcast and article are provided for informational purposes only and do not constitute an offer, invitation, or recommendation to buy, sell, subscribe for or issue any securities. David H. Crean, a principal at Cardiff Advisory LLC, is a registered representative of BA Securities, LLC Member FINRA SIPC, located at Four Tower Bridge, 200 Barr Harbor Drive, Suite 400 W. Conshohocken, PA 19428. Cardiff Advisory LLC and BA Securities, LLC are unaffiliated entities. All investment banking services and securities are offered through BA Securities, LLC, Member FINRA SIPC.