Do You Have These 4 Biotech Stocks on Your Watchlist?
Biotech stocks have been one of the focal points of the stock market over the past two years. For obvious reasons, people and investors alike are always on the lookout for new developments against the coronavirus. But even without the catalyst from the pandemic, the biotech space is an industry many investors keep a close tab on. For those who are new to investing, biotech is well-known for being a high-risk, high-reward industry.
You see, with multiple phases of trials and billions of dollars at stake, the sky is often the limit for top biotech stocks. And it’s no secret that the launch of quality healthcare products and services has had overwhelming positive impacts on society. That’s because these new health care products could treat conditions better than before, resulting in an improved quality of life for many patients.
For example, Vertex Pharmaceuticals (NASDAQ: VRTX) and CRISPR Therapeutics (NASDAQ: CRSP) recently announced new data on exa-cel, formerly known as CTX001™ at the 2022 European Hematology Association Congress. The companies found that the therapy could potentially be a one-time functional cure for people with transfusion-dependent beta-thalassemia or severe sickle cell disease. Considering the urgency for highly effective therapies for patients with hemoglobinopathies, such a development could be life-changing. All in all, the biotech sector will likely continue to grow and evolve over time. After all, there are still many unmet medical needs in the world today. With that being said, here are some of the top biotech stocks to watch in the stock market today.
Biotech Stocks To Watch Right Now
- Regeneron Pharmaceuticals Inc (NASDAQ: REGN)
- Novo Nordisk A/S (NYSE: NVO)
- Alpha Tau Medical Ltd (NASDAQ: DRTS)
- Amylyx Pharmaceuticals Inc (NASDAQ: AMLX)
Regeneron Pharmaceuticals
Regeneron is a biotech company that invests in life-transforming medicines for people with serious diseases. With over 30 years of experience in the field, the company has brought nine FDA-approved treatments to the market and also numerous product candidates that are in development. All in all, its medicines and pipeline are designed to help patients with cardiovascular and metabolic diseases, infectious diseases, and cancer among others. That said, it is noteworthy that REGN stock has been relatively flat since the start of the year.
Last week, the company and Sanofi (NASDAQ: SNY) announced that the U.S. Food and Drug Administration (FDA) has approved Dupixent for children aged 6 months to 5 years with moderate-to-severe atopic dermatitis. Specifically, for patients whose disease is not adequately controlled with topical prescription therapies. When compared to topical corticosteroids treatment alone, adding Dupixent achieved clearer skin and improved overall disease severity for children. Overall, this is a positive development that both companies can build on over time. Keeping that in mind, would REGN stock be on the top of your watchlist?
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Novo Nordisk
Another top biotech stock that should not go unnoticed is Novo Nordisk. Essentially, this is a global health care company that engages in the development of pharmaceutical products. It operates through two business segments, diabetes and obesity, and biopharmaceuticals. The diabetes and obesity care segment covers insulin, GLP-1, and other products such as glucagon, and oral anti-diabetic drugs. Meanwhile, the biopharmaceutical segment is responsible for hemophilia care, growth hormone therapy, and hormone replacement therapy. NVO stock has risen more than 25% over the past year.
Now, Novo is a company that doesn’t easily rest on its laurels. Earlier this week, the company announced the results of a once-weekly Sogroya injection in helping children achieve growth targets of annualized height velocity. Based on the main phase results of REAL 4 trials, the drug has shown to be as effective as daily Norditropin for children with Growth Hormone Deficiency (GHD). By reducing the frequency of injection, this could be revolutionary for the future of GHD treatments. So, would it be wise to bank on the future of NVO stock right now?
Alpha Tau
Alpha Tau has been gaining traction among investors lately. Before diving deeper, it is imperative to note that this is a medical technology company that specializes in the treatment of solid cancer. The company’s technology relies on the diffusion of atoms that emit alpha particles within tumor tissues. Hence, enabling alpha radiation to have access to the entire tumor. To say the least, DRTS stock has been on a tear over the past month, almost doubling its value within the period.
In part, this bullish momentum was aided by the recent U.S. FDA approval for its Investigational Device Exemption application to initiate its multi-center pivotal study for the treatment of recurrent cutaneous Squamous Cell Carcinoma (SCC) using the Alpha DaRT. The study will enroll up to 86 U.S. patients in approximately 20 institutions within the country. Looking at the larger picture, this is a huge milestone for Alpha as it continues on its journey in bringing new exciting therapies to patients around the world. With that in mind, would you be watching DRTS stock?
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Amylyx
Lastly, we have another trending biotech company in Amylyx Pharmaceuticals. Put simply, it is a clinical-stage biopharmaceutical company that focuses on the treatment of amyotrophic lateral sclerosis (ALS). As it stands, it is pursuing commercialization for its product candidate, AMX0035. This is an investigational drug that aims to keep neurons alive under a variety of conditions and stresses. Over the past week, it appears that investors have been paying more attention to the stock. In fact, AMLX stock has soared by more than 30% within the past week.
Based on data from the CENTAUR trial, the efficacy of the AMX0035 was compared to people taking a placebo. This is either a stand-alone therapy or added to existing treatments for ALS. Clinical data showed a statistically significant and clinically meaningful benefit in functional outcomes for patients with ALS taking the drug. As a result, Amylyx announced on Monday that Health Canada has approved the drug for the treatment of ALS. It is worth noting that this marks the first marketing approval for the AMX0035 issued to Amylyx worldwide. Given such an exciting development, would you consider AMLX stock as a viable investment right now?
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