AI-Focused Drug Discovery Stocks Portfolio Fell 23% Last Week Amid Catalyst Concerns

The Pure-Play AI-Focused Drug Discovery Stocks Portfolio fell 23% last week due to a major shortfall in Recursion Pharmaceuticals' Q3 revenue, a lack of near-term catalysts for Absci Corporation, and analyst downgrades for AbCellera Biologics. Despite this, the portfolio was up 18.5% in October. The pharmaceutical industry is embracing AI technology to accelerate drug discovery, with Morgan Stanley predicting 50 novel therapies and $50 billion in annual sales over the next decade.