Moderna is the standout gainer, but the stragglers are becoming more apparent as the pandemic tide retreats.
The young biotech is well placed to deliver its first pivotal win, but investor focus might lie elsewhere.
Molnupiravir, a repurposed flu antiviral with a poor history, delivers in a pivotal study in Covid-19 outpatients.
Chemocentryx and Avadel will also see important FDA regulatory action this month, while Omeros gets another delay.
But with the obvious buyer, Bristol, having apparently been outbid, there might be questions over Acceleron’s takeout price.