In 2021 Biden brought in the inflation reduction act which had provisions to reduce drug costs paid by Medicare through forcing price negotiations after 9 years of commercialisation for small molecule drugs, and 14 years for more complex biologics.
ozempic/wegolvy have just been named for negotiations this year.
scenesse is considered a small molecule by some definitions, but not all.
this had a profound effect on the drug industry, with 70% of capital leaving small molecule biotechs towards larger biologics which cuv likely suffered from.
its likely this is what's driving the short positions.
2 days ago the EPIC act was reintroduced to congress again with bipartisan support. if this gets passed, we could see a rebalancing of capital back to small molecule biotechs.
CUV Price at posting:
$11.53 Sentiment: Buy Disclosure: Held
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