Biotech small caps have shown significant movement, with $SMMT seeing a 243% increase, making new all-time highs at $21.95, and potentially reaching $24.5-25 or $30. $TERN is expected to reach a market cap of over $2 billion following positive data, despite struggling with the $10 level and potential pullbacks due to secondary announcements. The biotech sector, represented by $XBI, has also performed strongly, with notable gains in $IMNM (+7%), $BNTX (+11%), $TGTX (+6%), $NVAX (+8%), and $RLAY (+55%). $SMMT also saw a 60% increase.