In #biotech #stocks news, no opening to the US market today due to Labor Day holiday, which is a perfect time to discuss the only stock in the list of #biotech companies that I track, which is not listed in the US stock market: $ONT.L Oxford @nanopore
ONT decided to IPO in the UK rather than the NASDAQ, with two main consequences to the stock price: (1) many of the retail broker apps with a US Dollar account won't trade it as easily as US stocks, and (2) the value of the stock will correlate with the value of GBP vs USD. 
The later can be seen when looking at $ONT.L Oxford @nanopore stock versus the GBPUSD trend line (yellow): when the GBP loses value to the US Dollar, seemingly ONT loses value, being traded in GBP. And vice versa, for a large pharma company such as $AZN Astrazeneca ...
... which is also headquartered in the UK but brings in most of their revenue in US Dollars, when the USD gains value over GBP, Astrazeneca UK share price seemingly increases in value (orange line). But we can also see the Astrazeneca ADR ticker in purple, which in the last ...
... 12 months has gone down in an offset of about 10% compared to the UK ticker (orange). The difference can be explained by the one year change in value of GBP over USD, and partly also by the relative interest in US broker account on the stock over ex-US (UK accounts).
This is thus a way to compare two companies with markedly different levels of revenues that they bring in as either US Dollars or other denominations, and how they correlate or anti-correlate with the relative value of the GB Pound compared to the US Dollar.
So when evaluating any non-US traded companies, we need to do a bit more work other than bringing up their trend line on Google or Yahoo Finance, and instead take into account the currency of the revenues and the stock where they trade.
$ONT.L Oxford @nanopore is expected to describe year revenues in September 2022, which compared to companies that give lots of details on a quarterly basis, means it'll be one of the most important inflection points for the trade value. Compared to the other #longreads company...
... out there, $PACB @PacBio which trades in the NASDAQ, we can see how the later in purple has had more markedly drops in the last year, particularly the Q4 2021 revenues drop which brought it down from -30% to -60% in a matter of days.
So, as a summary, all the companies in the #biotech #stocks list that I follow are down in the last 12-18 month window, but some more than others, and the tempo of the drops and increases in value is affected by the timings of their earnings reports and currency fluctuations.
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