Hong Kong stock innovative drug stocks diverged today: Insilico Medicine and WuXi AppTec both rose slightly, AI drug discovery and CXO followed sentiment with a small rebound; RemeGen fell slightly, TenNor Therapeutics dropped nearly five points, weaker.
Also in the innovative drug sector, CXO companies with platforms and orders held steady, while small-cap Biotechs with pure pipelines are still worried about cash flow and data.
Is this divergence capital starting to pick targets with self-sustaining capabilities, or is it just small caps being mispriced due to poor liquidity? It looks more like the former—in an uncertain environment, the market is becoming increasingly harsh on pure pipeline companies with no revenue.
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