“I think we’re in the early innings of the upswing,” Borisy said. But “we don’t know for sure. Because when you're down in the trough, you can have false dawns, and you can bounce along there for a long period of time.”The tension could be felt throughout J.P. Morgan. There was real frustration when, on the conference’s opening day, no major deals came. Brad Loncar, another prominent biotech investor turned media analyst, lamented the “slowest JPM for news in a long time.” Others appear to agree. The XBI, a ...