Connect with us

Hi, what are you looking for?


BB Biotech reports a loss for the first three months of 2023

BB Biotech AG (SWX: BION) ended 3.0% down on Friday after reporting a loss for the first three months of 2023.

BB Biotech’s loss narrowed year-on-year

The investment firm that focuses exclusively on biotechnology says it lost CHF 254 million ($284.45 million) in the first quarter.

In the same period last year, though, it had reported an even bigger CHF 300 million of loss. The Swiss company said in its letter to shareholders:

A strong start to the year was followed by a sell off among smaller and mid-cap companies. Fund flows into biotechnology – a crucial indicator – remained negative.

BB Biotech ended the quarter with 28 names on its portfolio. Over 1/3rd of them are profitable companies. Versus its year-to-date high, “BION” is down about 20% at writing.

BB Biotech paid a dividend last month

The stock market news arrives about a month after BB Biotech held its annual general meeting where shareholders approved CHF 2.85 gross a share of dividend.

BB Biotech ended the first quarter of this year with investment level near 114%. The letter to shareholders reads:

Continued high investment level reflects the management team’s positive stance that many companies are attractively valued after the correction of the last two years in the biotech sector.

BB Biotech expects companies on its portfolio to boost shareholder returns as they continue to hit regulatory and commercialisation milestones. Being an investment company, how “BION” performs is directly related to the biotech stocks it holds.

The post BB Biotech reports a loss for the first three months of 2023 appeared first on Invezz.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    As the United States continues to grapple with the ongoing immigration crisis, the House and Senate have found themselves at odds over how to...

    Latest News

    As the world continues to grapple with the COVID-19 pandemic, the global economy is facing unprecedented challenges. In the United States, President Joe Biden...

    Latest News

    Rep. Jennifer Wexton (D-Va.) announced on Tuesday that she has been diagnosed with Parkinson’s Disease. “If there’s one thing that Democrats and Republicans can...

    Latest News

    After Dianne Feinstein announced she’d contracted the shingles in early March, her staff said she planned to return to the Senate within a matter...

    Disclaimer:, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023 All Rights Reserved.