CHF0.0015 IGPH.SW IGEA Pharma on SIX pre-market 23 Jan 2026: high volume

We see IGPH.SW stock trading at CHF 0.0015 in the SIX pre-market on 23 Jan 2026 after a sharp intraday drop of -25.00%. Volume is elevated at 2,033,000 shares versus an average of 193,941, making IGPH.SW one of the most active names on the Swiss session. This note summarizes why liquidity, microcap structure, and weak fundamentals are driving the move and where short-term traders may look for levels.