Scilex (SCLXW) had the highest return in Q1 2023 by a US stock in the Biotechnology Industry, returning 556.3%.

ASSET	QUARTER	% RETURN
Scilex (SCLXW)	Q1 2023	556.25%
Cardio Diagnostics (CDIOW)	Q1 2023	542.37%
Genelux Corporation Common Stock (GNLX)	Q1 2023	362.33%
iBio, Inc Common Stock (IBIO)	Q1 2023	350.9%
Unicycive Therapeutics (UNCY)	Q1 2023	304.62%
Dermata Therapeutics Inc Warrant (DRMAW)	Q1 2023	302.42%
Biomea Fusion (BMEA)	Q1 2023	267.85%
Cardio Diagnostics (CDIO)	Q1 2023	265.42%
Pyxis Oncology (PYXS)	Q1 2023	197.04%
Sera Prognostics (SERA)	Q1 2023	187.97%
Achieve Life Sciences (ACHV)	Q1 2023	173.09%
NewAmsterdam Pharma Company NV Warrant (NAMSW)	Q1 2023	162.11%
Quince Therapeutics (QNCX)	Q1 2023	141.86%
Alvotech Warrant (ALVOW)	Q1 2023	138.19%
Apollomics Inc Class A Ordinary Shares (APLM)	Q1 2023	133.59%
Cibus Global LLC (CBUS)	Q1 2023	129.73%
Clene (CLNNW)	Q1 2023	125%
BridgeBio Pharma (BBIO)	Q1 2023	113.11%
Avita Medical (RCEL)	Q1 2023	111.35%
Protagonist Therapeutics (PTGX)	Q1 2023	108.71%
Immunome (IMNM)	Q1 2023	107.92%
Tyra Biosciences (TYRA)	Q1 2023	107.89%
Dianthus Therapeutics (DNTH)	Q1 2023	104.82%
Corbus Pharmaceuticals (CRBP)	Q1 2023	104.67%
Quantum BioPharma (QNTM)	Q1 2023	102.09%