Emerging Biotech: The Wild West of Public Equity

Biotech isn’t your typical industry—it’s more like a VC portfolio. So, what’s a quant firm’s take? Traditional valuation and quality metrics are often ill-suited for companies with no revenue. Quants struggle with this, and fundamental analysts can hit a wall with the medical knowledge required. At PanAgora, we’ve developed an approach that blends deep medical insights with the power of systematic tools.