Covid testing: a cautionary tale

The woes of the UK’s listed Covid testing companies is a reminder that investing in biotechnology is hardly ever a licence to print money

Photo by Jan Kopřiva

You’d think that two years spent obsessing over our health would be good news for the biotech industry. Yet the share prices of many companies involved in the business of protecting us from Covid, especially those at the smaller and more exploratory end of the market, suggest that it has proved quite the opposite for most, with many investors left bearing the brunt of the swing from incredible optimism to the pain of undelivered promise.

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