Why Twist Bioscience Stock Skyrocketed This Week

Biotech stocks are famously volatile, due to the speculative nature of the drug discovery business. The good news about this is that when one reports good news, it can send its stock into the stratosphere.

On Wednesday, Twist Bioscience (NASDAQ: TWST) had an excellent development to divulge and investors plowed into the biotech company's stock. As a result, it finished the week up by more than 31%.

Before market open that day, Twist announced that it had reached an agreement to participate in Lilly TuneLab. This is an advanced drug discovery initiative from U.S. pharmaceutical giant Eli Lilly, perhaps best known among the public these days for its Zepbound obesity treatment.

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