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The first half of 2019 had a little bit of everything for biotechs. After a punishing close to last year, with the Nasdaq Biotechnology Index (IBB) down 10% for 2018, biotechs rebounded during the first quarter along with the broader market. However, the second quarter provided a flavor for how things may unfold going forward. The months of April and June showed the risks from the ongoing healthcare regulation debate in the election primarily as biotechs and many healthcare stocks retreated sharply. Stocks then rebounded in June on the expectation of