Moving as the similar BiotechIf you compare ONCY and to a few Biotech ETF, it is trading in a similar fashion.
It will take a few more weeks before calm comes back to the market. Everyone is looking out for the chapter of the banking crisis to unfold (even the Fed). If nothing happens, this will end the hiking of interest cycle.
If we have more bad news, SP will go down further up to a floor level.
In any case, ONCY will survive this storm as it is cash rich.
This makes the hostile takeover more likely.