Biotech ETF Rises 23% as Drug Milestones Span Trials to Approval
The iShares Biotechnology ETF (IBB) rose 23.1% through Oct. 23, driven by drug milestones. Merck and Moderna reported positive Phase 3 trial data for intismeran autogene. Roche's Enspryng gained FDA approval for thyroid eye disease. Eli Lilly plans to submit a weight-loss drug for FDA review in early 2027. IBB's expense ratio is 0.44%, while SPDR S&P Biotech ETF (XBI) has a 0.35% expense ratio.
