New Stifel Survey of Life Science Executives and Investors Finds Optimism for COVID-19 Vaccine, but not Until Late 2021 or Beyond

Respondents Expecting Potentially Disruptive “Second Wave” & Bracing for Another Pandemic This Decade

ST. LOUIS, June 23, 2020 (GLOBE NEWSWIRE) — A new Stifel Financial Corp. (NYSE: SF) survey of executives and investors in the life sciences industry suggests overwhelming consensus that a COVID-19 vaccine will ultimately be developed, approved, and made accessible to all Americans, but probably not for some time. While 98% of those questioned expect a vaccine, more than three-quarters (76%) believe it won’t be widely available until late next year or beyond.

While the world waits for a potential vaccine, survey findings suggest respondents are encouraged by research on potential medicines to treat COVID-19. More than one-third (38%) expect the next approved therapeutic to emerge by the end of 2020. This could coincide with a potential “second wave” of COVID-19, which 98% of those surveyed are expecting. More than half (52%) believe the feared second wave will be severe enough to cause more government-imposed closures and restrictions.

“Innovation and investment into next-generation medicines and therapies have never been more important or appreciated,” said Declan Quirke, Managing Director and Co-Head of the Stifel Healthcare Group. “We have witnessed unprecedented cooperation between public and private enterprises in the fight against COVID-19, and we expect that dynamic to continue. In fact, 88% of respondents to our survey believe COVID-19 will permanently change the way healthcare companies interact with regulators.”

“Biotech has also been a key driver of capital markets activity since the beginning of the COVID-19 pandemic,” added Mark Dempster, Managing Director and Co-Head of the Stifel Healthcare Group. “We continue to see strong interest in the biotechnology sector from both healthcare-dedicated investors and generalist investors, which has resulted in a healthy pipeline of capital-raising activity.”

The Stifel Healthcare Group survey queried 50 leading executives and investors in the life sciences industry about the impact of COVID-19. Additional key findings include:

• Most (80%) believe the first COVID-19 vaccine will be developed in the United States.
• Almost all (90%) expect governments to continue investing in disease preparedness post COVID-19.
• An overwhelming majority (84%) anticipate another pandemic within 10 years or less.
• More than half (56%) expect investor enthusiasm for vaccine and infectious disease companies to continue after COVID-19.
• Nine in 10 believe drug pricing will be an issue in this year’s presidential campaign, but the majority of those surveyed do not think it will be a significant one.
• Roughly half (48%) plan to stop working exclusively from home by the end of this year, but once back in the office, most everyone surveyed expects to incorporate more telecommuting going forward.
• Only 28% will resume regular business travel this year.

The online survey was conducted from June 10 through June 18, 2020. Full survey results are available here.

Stifel Company Information
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners business division; Keefe, Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC and Century Securities Associates, Inc. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit https://www.stifel.com/docs/pdf/pressreleases/press-release-disclosure.pdf.

Media Contacts
Neil Shapiro, (212) 271-3447
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