Hello dupa,

Today we’re launching something new at Endpoints: the first-ever Biopharma Sentiment Index (BPSI) and the debut of Endpoints Signal, our new data and intelligence platform.

With the BPSI, each quarter we’re asking a consistent set of questions about business conditions, financing, regulation, organizational health, and hiring. Those responses roll up into one headline number, plus two subindexes — Current Conditions and Future Expectations — that track the mood of biopharma over time.

Our first report captures a sector still navigating one of its toughest periods in decades, but finally showing signs of turning the corner. The data reflect a complex mix of caution, frustration, optimism and glimmers of a possible recovery. Together, they form the baseline we’ll build on from here.

Read the report: Biopharma Sentiment Index | Q4 2025

The BPSI is the flagship of Endpoints Signal, a broader effort to harness the collective intelligence of our expert readership — the executives, investors, scientists, clinicians and policy experts who are building the future of this industry.

The idea behind Signal is simple: Biopharma works better when its people talk to each other. Signal is how we open that conversation systematically — and ensure those perspectives flow back to the entire community.

I hope you find the report useful, and I’d love to hear what you think and what you’d like to see next from Signal. Drop me a line at signal@endpoints.news.

Tom Randall
Head of Signal