Hi Harjot,
Bio-techs are known to be very volatile. This is especially true of those that are newly listed companies because the have no history of execution. Early on, it benefited from its work on COVID-19 antibodies and the release of Bamlanivimab but that euphoria has since died down. It certainly has an interesting model and a host of partnerships. Outside of its quick success and turnaround with EliLilly on Bamlanivimab, many of its other partnerships are in early stage clinical trials. This means, there is no immediate catalyst here and investors will have to be patient.
Biotechs can be very tricky to invest in, and typically are only for those with a higher risk tolerance. Interesting company, but one that wil require a very long-term approach.
Mat