ANVS - Biotech Bonanza: Promising Second Half Outlook

• Biotech stocks had a muted first half with the S&P Biotech Index down year-to-date, and more than 20% lower from its mid-February peak.
• The decline in biotech stocks coincided with a spike in interest rates and stabilizing interest rates can provide a boost to valuations.
• M&A has been dormant but conditions exist for a much busier second half.
• Neurology, particularly treatments for Alzheimer's and Parkinson's diseases, garnered strong investor interest after approval of Biogen's drug, and the upcoming industry conference can be a catalyst for powerful moves.
• Portfolio exposure to biotech stocks can be much more rewarding in the second half.

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