Don’t look now, but there are signs of life in the biotech market. The XBI has been ticking up. There were 22 M&A deals in Q3, according to John Carroll’s analysis with DealForma, and deal values are already close to the totals from all of 2024. Is it a mirage, or is the worst really over? And how much will we jinx things by saying it out loud? John and Tim Opler, Managing Director at Stifel's Global Healthcare Group, will join the show to break it all down.