The strong earnings report from Medpace Holdings which runs clinical trials to test biotech companies’ new drugs, offers more evidence that the biotech sector is on the rebound. Medpace said late Wednesday that it had $789 million in new orders in the third quarter, up about 49% from the year-ago period. Its clinical trial backlog was up 2.5% from the 2024 third quarter, signaling an improving environment for the small- and midsize biotechs that make up most of its clients.