In the pharmaceutical sector, the experience of large companies and small-cap biotechs was completely different today:
Akanda fell over 8%, Brainstorm Cell Therapeutics fell over 3%. Small-cap biotechs can be this volatile even without clinical progress news.
In contrast, Pfizer and Eli Lilly saw declines of 0.4-0.5%. Large pharma companies, in their pipeline digestion phase, are moving gently with the broader market.
WuXi AppTec bucked the trend with a small gain of 0.7%. For a CRO to be in the green under geopolitical pressure is pretty good 😸
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