Biotechs are incredibly risky. They can shoot up or down 300-400% overnight! Very volatile. With that being said, I still plan to pick up more shares of Frequency Therapeutics before they announce their phase 2 results. Been following them for a long time and trust their leadership.I picked up a few of shares because I believe in the company, however, there's a lot of risk involved when investing in these types of companies. You just have to look at the stock prices for Auris Medical (EARS) and Otonomy (OTIC) to see what happens when drugs don't pan out as expected. I wouldn't invest any money that you wouldn't mind losing. It's easy to make illogical decisions when you want the results to be positive.