But other small biotechs are more advanced and still hope to play a role in the pandemic.
A few developers are still finding reasons to research novel pandemic treatments, though much of the ongoing work is focused on proven approaches.
New findings for IL-6 blockade in the Recovery trial finally confirm a signal. Can pending pandemic readouts for other mechanisms do the same?
It's official: dramatic share price jumps in response to clinical data have become more common.
Outside of vaccines and antibodies, few experimental agents have made it into large, robust clinical trials.
A small trial of inhaled interferon marks a 30-fold increase in Synairgen stock since January, but the endpoints warrant scrutiny.
Investors are homing in on biopharma companies able to make real contributions to the coronavirus pandemic, but market frothiness is far from over.