Drug stock price volatility surged as small-cap biopharma firms announced earnings. BioNTech (BNTX) rose 3.7% to $92.22 amid speculation on updated COVID booster revenue. Traders anticipate short-term swings driven by pandemic-related demand cycles. While rezpegaldesleukin looks like a winner so far, Nektar still needs to complete a larger phase 3 trial. If an unforeseen safety issue arises, or it can't repeat the outstanding efficacy results we've already seen, the stock could fall hard. This stock is only appropriate for investors with an extremely high risk tolerance. Many of the large cap drug stocks have been cheap for years. Tracey has discussed Pfizer and Merck, off and on, on the podcast for a decade. The S&P Pharmaceuticals Index shows a 1.9% weekly gain, with drug stock price averages climbing on stronger-than-expected Q2 revenue guidance. Amgen (AMGN) at $280.90 reflects growing interest in its cardiovascular pipeline.