SMALL BIOTECHS SPENDING LESS
The median and mean operational cash spending for small public US biotechs (less than 250 employees) is down 37% and 42% respectively, since the 1st Quarter of 2008. Company cut backs have shown up in the lay-off numbers as well as in the number of drug development projects put on hold.
These quarterly numbers give a sense of the direction. For a look at the annual data, here is how spending breaks down for the last 12 months ending 3Q09:
68% of small biotechs spent above $5M / year
33% of small biotechs spent above $10M / year
12% of small biotechs spent more than $40M / year