Pre-commercial biotechs are notoriously volatile and underfunded before they are fully validated. They are also manipulated by long-short hedge funds. This is still substantially up for me over the 5 years or so period I have been in and I can't complain.
The reality is even in the best but most volatile stock of the century, there are many investors who only buy chasing them on a run, and sell when they are down. Some of those people will even brag that they are a Tesla or Apple or other investor, to imply they've been successful, when in fact they've been a disaster of an investor. That's the nature of people talking about investments. There are people who will lose money, no matter what, because they think they know better than anyone else and they TRADE when they shouldn't. That is frequently not the fault of a particular stock, but the investor not knowing their own limitations. Some investors should just dollar cost average index funds, not volatile, pre-commercial biotechs like this one, and many should not trade stocks at all, just accumulate those indexes. It's not for everyone to invest in this sector. It just isn't.
Bullish