The Clinuvel (ASX:CUV) share price is dipping today

The Clinuvel Pharmaceuticals Limited (ASX: CUV) share price is falling despite positive news in its quarterly report released today.

At the time of writing, the Clinuvel share price is trading at $22.0, down 1.35%.

What’s driving the Clinuvel share price today?

In its quarterly report for the period ending 31 December 2020, the biopharmaceutical company highlighted negative market conditions as a result of COVID-19 impacts.

Nonetheless, Clinuvel expanded both its commercial operation in the US and its research and development program despite the challenging conditions. The company said the expansion went ahead without the use of any equity or debt financing.

And, as hospital and medical supplies face new challenges, Clinuvel was…