Biotech investors believe the market has bottomed out, but any upwards swings are likely to be stock-specific rather than a broad-based boom.
investors believe the market has bottomed out, but any upwards swings are likely to be stock-specific rather than a broad-based boom, which characterised 2020 and 2021.
SG Hiscock’s Rory Hunter says the biotech market will improve in 2023, but will remain challenging for pre-revenue companies.“Right now, you’re seeing so little retail participation in the market and for speculative stocks to outperform, you need retail participation in earnest,” he said.
Companies such as Lumos Diagnostics, Kazia Therapeutics, Hexima and Exopharm were among the worst performing small caps on the whole ASX, and had almost all their value wiped out, with share price declines of 85 per cent-plus. Companies that fall into this bracket, he said, include the likes of healthcare technology players Alcidion and Mach7 Technologies, as well as Telix Pharmaceuticals and medical marijuana player Cronos.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Diamonds bounce back to defeat England in Quad Series openerAfter a poor start, Australia's Diamonds defeated England 61-55 in the defence of their Netball Quad Series title.
Read more »
Rishi Sunak fined for not wearing seatbelt during Lancashire visit‘Brief error of judgment’ captured while PM was recording Instagram video in back of moving car
Read more »
Downing Street repeats apology for Sunak seatbelt ‘mistake’Lancashire police investigating whether prime minister broke law when filming in back of car
Read more »
It’s a bumper summer for Queensland tourismSummer holidaymakers are on track to pump more than $6 billion into Queensland’s tourism economy, which is back on track after two seasons marred by COVID-19 restrictions.
Read more »