Should Investors Be Watching these Top Biotech Stocks Right Now?
As we approach the end of 2021, it seems that biotech stocks could continue to make viable plays in the stock market. This can be attributed to the growing coronavirus concerns fueling the booming industry. On one hand, you have great advancements from various biotech companies ranging from life-saving vaccines to antiviral pills. On the other hand, the recent developments from the Omicron coronavirus variant continue to alarm health care experts and governments worldwide. As such, investors all around may want to keep an eye on biotech stocks.
Earlier this week, Novavax (NASDAQ: NVAX) received some positive news regarding its vaccine in India. Namely, the company alongside its local partner the Serum Institute of India (SII), was granted emergency use authorization (EUA) for the vaccine. Notably, SII is the world’s largest vaccine manufacturer by volume. Through the approval from the Drugs Controller General of India (DCGI), Novavax can now manufacture and market the vaccine in India under the brand name Covovax. This authorization adds to the growing list of countries that have received EUA for the Novavax/SII vaccine. This includes countries such as Indonesia and the Philippines.
Besides that, GlaxoSmithKline (NYSE: GSK) and Vir Biotechnology (NASDAQ: VIR) appear to be hard at work as well. Earlier this month, news broke of their antibody-based coronavirus drug, sotrovimab, being effective against the new Omicron coronavirus variant. To highlight, the data suggest that the treatment retains activity against all 37 mutations identified on Omicron’s spike protein. According to GSK Chief Scientific Officer Hal Barron, “These pre-clinical data demonstrate the potential for our monoclonal antibody to be effective against the latest variant, Omicron, plus all other variants of concern defined to date by the WHO.” With all the advancements in the biotech industry, could these three biotech stocks be worth considering?
Best Biotech Stocks To Watch In 2022
- Moderna Inc. (NASDAQ: MRNA)
- Gilead Sciences Inc. (NASDAQ: GILD)
- Codex DNA Inc. (NASDAQ: DNAY)
Moderna Inc.
First up, we have Moderna, a biotech company that has transformed from a research-stage company advancing messenger RNA (mRNA) to an enterprise with a diverse portfolio of vaccines and therapeutics. In fact, the company has extensive knowledge on mRNA and lipid nanoparticle formulation and an integrated manufacturing plant that allows for both clinical and commercial production at scale. MRNA stock currently trades at $257.66 as of 12:38 p.m. ET.
On Monday, the company announced that the Swiss Federal Government has exercised its option to purchase an additional 7 million doses of Moderna’s booster vaccine. Moderna will deliver the vaccines in the second half of 2022. Furthermore, this builds on its initial 7 million doses of booster vaccine to Switzerland and brings the country’s total commitment to 27.5 million doses.
Adding to that, Moderna is also making headway in South Korea as well. This is evident as the company landed a supply agreement with South Korea for an additional 20 million doses of its coronavirus vaccine. In essence, Moderna will be delivering 15 million doses in Q3 2022 and the remaining 5 million the following quarter. All in all, the company appears to be firing on all cylinders as the fight against the pandemic rages on. The question now is whether or not investors should be keeping a watchful eye on MRNA stock because of this.
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Gilead Sciences Inc.
Next up, we have Gilead Sciences. In brief, it is a biopharmaceutical company that focuses on researching and developing antiviral drugs. The likes of which serve to treat hepatitis B, hepatitis C, and influenza. Moreover, Gilead is also a leader in developing HIV drugs such as Truvada and Genvoya. In addition to the aforementioned drugs, its strong portfolio includes breast cancer drugs and a coronavirus treatment, remdesivir. Right now, GILD stock trades at $73.14 as of 12:38 p.m. ET.
Last week, the company announced the full results from its Phase 3 investigational study evaluating the efficacy and safety of a three-day course of remdesivir. In detail, the study is for intravenous (IV) use in the treatment of COVID-19 in non-hospitalized patients at high risk for disease progression. According to the results, remdesivir lowered the risk of hospitalization or death among patients by 87%. The results have also been submitted to the Food and Drug Administration (FDA) for the potential use of remdesivir in earlier stages of COVID-19, including prior to hospitalization.
Currently, more than half of patients hospitalized with COVID-19 in the U.S are treated with remdesivir. The treatment can help hospitalized patients to recover faster as it reduces disease progression across the spectrum of disease severity. This ultimately helps free up limited hospital resources and reduces the cost of healthcare systems. Should things go as planned with this application, Gilead’s addressable market on this front could significantly grow. With the widespread use of remdesivir along with Gilead’s extensive portfolio, could GILD stock be worth investing in?
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Codex DNA Inc.
Last, but not least, we have Codex DNA. For the most part, Codex is a leading synthetic biology company. It mainly enables customers to rapidly, accurately, and reproducibly build or “write” high-quality synthetic DNA and mRNA. In turn, the end products are ready to use in many downstream synthetic biology-enabled markets. Additionally, the biotech company is known for being the creators of the BioXP system, the world’s only fully automated gene synthesis platform. DNAY stock is up by over 60% in the last 5 trading sessions and currently trades at $10.10 as of 12:38 p.m. ET.
As of this week, the company is currently working together with pharmaceutical titan, Pfizer (NYSE: PFE). Through the research collaboration and license agreement, the duo will further develop Codex DNA’s BioXP system. On Pfizer’s end, the company intends to utilize BioXP to potentially manufacture materials for use in its products. In return for Codex DNA’s participation, it will receive an upfront payment of $8 million as well as an additional $10 million in near-term milestone payments. In theory, Codex DNA could benefit tremendously from this collaboration given Pfizer’s resources. Given all of this, would DNAY stock be one to buy for you?
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