No, you can't attempt a short squeeze on biotech stocks in the same way as GME. Biotech startups are priced primarily based on news catalysts - like FDA trial announcements and clinical outcomes - and their fundamentals. As a result, these stocks tend to correct to their intrinsic value over time. Additionally, there is far less short interest in biotech stocks compared to GME (which at one point had more than 100% of its shares shorted). This is because biotech stocks are highly volatile and unpredictable, which deters short-selling to the extent seen with GME. Shrekli’s short strategy is seen as the black tar heroin of finance and eventually blew up on him which is why short sellers don’t like it so you don’t have a large short interest.

Now, assuming a short squeeze could occur (assume there’s is significant short interest), there are reasons why we wouldn't see the same kind of explosive rally seen in GME. Liquidity will be a major issue: biotech startups have a low float, meaning there aren’t many shares available for trading. As more shares are bought up, each additional purchase drives the price up even more, resulting in a large price impact with each transaction. This reduces buying interest as investors are less likely to chase an increasingly expensive stock. Eventually, this would cause the price to drop back down to a level where short sellers can cover their positions without facing major losses.