$Recursion Pharmaceuticals(RXRX.US), $Moderna(MRNA.US), and $WUXI BIO(02269.HK) diverged along two lines today: $Recursion Pharmaceuticals(RXRX.US), a small-cap AI drug stock, rose five points, driven by sentiment around its NVIDIA collaboration and BioRender tool; $Moderna(MRNA.US) edged up slightly, representing a recovery trade for mRNA vaccines ahead of the flu season; $WUXI BIO(02269.HK) dipped slightly on the Hong Kong side, as the CXO sector is still awaiting the finalization of the U.S. Biosecurity Act.

The three stocks cover three independent sub-sectors: AI drug development / mRNA vaccines / CXO. It's reasonable for the two U.S. stocks to rise and the Hong Kong stock to fall today. The CXO sector will remain in a 'waiting for policy' pattern until the end of August; don't expect a significant rally without seeing Phase 1 clinical data or new contracts.