Are These Top Biotech Stocks Worth Investing In This Month?
Biotech stocks have and continue to make waves across the stock market today. For the most part, this would be due to the overwhelming focus on the industry amidst the pandemic. In fact, new data from Johns Hopkins University this week notes that the global coronavirus death toll is over 5 million. This would indicate that even as parts of the world reopen, the need for biotech advancements remains prominent.
For one thing, investors would continue to eye pharmaceutical giants such as Novavax (NASDAQ: NVAX) and Merck (NYSE: MRK) now. On one hand, coronavirus vaccine developer Novavax is making headlines today thanks to its slew of regulatory announcements. Firstly, it has completed its’ rolling submissions to Health Canada and the European Medicines Agency for regulatory review of its vaccine candidate. Secondly, the company also received its first emergency use authorization in Indonesia.
On the other hand, Merck remains hard at work on the research and development front. Over the weekend, the company revealed positive data from a Phase 3 Trial of its KEYTRUDA, Melanoma treatment. According to Merck, the drug improved recurrence-free survival and several patients survived 7 years after receiving initial doses in another long-term study. By and large, the biotech industry is not sitting idly by amidst the current positive momentum in the stock market now.
Best Biotech Stocks To Buy [Or Sell] This Week
- ABVC Biopharma Inc. (NASDAQ: ABVC)
- ANI Pharmaceuticals Inc. (NASDAQ: ANIP)
- Moderna Inc. (NASDAQ: MRNA)
- Sorrento Therapeutics Inc. (NASDAQ: SRNE)
- Sanofi (NASDAQ: SNY)
ABVC Biopharma Inc.
To begin, we have ABVC Biopharma, a company that targets its business to the stage of drug development that moves promising drugs from the laboratory to the market at the translational phase. Specifically, drugs considered by the company are usually derived from plants, address significant illnesses, and have successfully completed pre-clinical disease animal model, and Phase 1 safety studies at world-class research institutions.
The company has received strong retail investor interest in this latest rally. In fact, the shares jumped as much as 930% in premarket trading as more than 50 million shares had been traded in the stock today compared to its 12-month daily average of around 660,000.
Last month, the company announced a joint venture agreement with Tokyo-based private investment firm Lucidam. It also recently submitted two new patent applications for an active ingredient for its candidates targeting major depressive disorder and attention-deficit hyperactivity disorder. Given the excitement surrounding the company, will you consider buying ABVC stock?
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ANI Pharmaceuticals Inc.
Following that, we have ANI Pharmaceuticals, a diversified biopharmaceutical company that develops and manufactures high-quality branded and generic prescription pharmaceutical products. The company has just announced FDA approval of its Purified Cortrophin Gel for multiple indications. This would include multiple sclerosis, rheumatoid arthritis, and nephrotic syndrome.
The company’s supplemental New Drug Application (sNDA) for Purified Cortrophin Gel is a purified corticotropin, which is an important treatment option for patients struggling with certain chronic autoimmune disorders.
Nikhil Lalwani, President and Chief Executive Officer of ANI Pharmaceuticals had this to say, “We are pleased to offer Cortrophin Gel, an established treatment, to provide another option to patients and prescribers. This approval reflects ANI’s commitment to the patients and physicians we serve, combined with U.S.-based development and manufacturing. We anticipate a full-scale commercial launch by early in the first quarter of 2022.” With that being said, should investors add ANIP stock to their portfolios?
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Moderna Inc.
Moderna is a pharmaceutical company with headquarters in Massachusetts. The company has transformed from a science research-stage company that has advanced the field of messenger RNA (mRNA) to an enterprise with a diverse clinical portfolio of vaccines and therapeutics across its six modalities. It also boasts a broad intellectual property portfolio in areas including mRNA and lipid nanoparticle formulation. MRNA stock has enjoyed gains of over 360% in the past year alone.
Last week, the company announced an agreement with Gavi, the Vaccine Alliance to supply up to 116.5 million doses of its coronavirus vaccine to be delivered in the second quarter of 2022. This is on top of the option for additional doses that represented an increase from an earlier agreement for 60 million doses of Moderna’s vaccine.
As per the advance purchase agreement signed on behalf of the COVAX Facility, Gavi continues to retain the option to procure 233 million additional doses in 2022 for a potential total of 500 million doses between 2021 and 2022 under the agreement. All things considered, will you buy MRNA stock?
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Sorrento Therapeutics Inc.
Next up, we have Sorrento Therapeutics. The company primarily focuses on the development of treatments relating to cancer, pain (non-opioid treatments), autoimmune disease, and more recently, COVID-19. Through its array of proprietary tech platforms, Sorrento develops all of these complex therapies and vaccines.
Overall, the current hype around SRNE stock could be thanks to the company’s latest announcement. Namely, Sorrento’s license partner, Lee’s Pharmaceutical (Lee’s) is filing for a new drug application (NDA). The drug in question is Socazolimab, a supposed treatment of recurrent or metastatic cervical cancer.
In detail, the current NDA is being submitted to China’s National Medical Products Administration (NMPA). Should the NMPA greenlight the drug candidate, it would mark a major milestone for Sorrento’s proprietary development tech. As such, will you be keeping an eye on SRNE stock now?
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Sanofi
Topping off our list today is Sanofi. For the uninitiated, it is a French multinational pharmaceutical firm. In terms of scale, Sanofi is among the largest health care firms in terms of prescription sales.
Also, the company’s team consists of over 100,000 employees that operate across 100 countries worldwide. Given the sheer reach of Sanofi’s offerings, I could understand if investors are keeping an eye on SNY stock now. The company’s shares have enjoyed modest gains of over 6% in the past month.
For one thing, the company does not seem to be sitting idly by on the pandemic front now. Just last week, Sanofi provided a notable update regarding its ongoing partnership with GlaxoSmithKline (NYSE: GSK). Notably, the duo are working on a coronavirus vaccine with a price tag of less than $11.59 (10 euros). Also, Sanofi expects comprehensive results of its mass trials to be ready by the end of 2021. With the company looking to bring a possibly cheaper alternative to existing coronavirus vaccines, SNY stock could be in focus. Would you say the same?
