SPDR S&P Biotech ETF Price & Performance (XBI)

Genetics testing firm 23andMe has filed for Chapter 11 bankruptcy to address financial troubles and explore a sale. The company has faced declining demand for its products, operational challenges, and an inability to turn a profit since its inception. CEO Anne Wojcicki has stepped down amid these developments.12

The biotech industry, after years of underperformance, is showing signs of recovery. Analysts highlight improving clinical trial outcomes and historically low valuations as key drivers. Experts believe the sector may be entering a multi-year cycle of innovation, offering potential opportunities for investors.34

Biogen’s stock has dropped nearly 40% from its 52-week high, reflecting long-term challenges. However, a recent uptick followed its Q4 earnings, which showed revenue growth driven by key drugs. Despite concerns, analysts maintain cautious optimism about its future, citing its robust drug pipeline.56