Check Out These 4 Trending Biotech Stocks Right Now
Biotech stocks have been among the most exciting stocks to invest in the stock market. The reason being, this is a high-risk, high-reward industry that could appeal to a certain group of investors. The stock movement within the industry is often based on regulatory or clinical developments rather than revenue and earnings. So, knowing about a company’s upcoming milestones and understanding its peers is paramount when it comes to biotech stocks. Moreover, the biotech space rarely lacks exciting news that could be turning points for many companies.
For instance, bluebird bio (NASDAQ: BLUE) announced today that the U.S. Food and Drug Administration (FDA) has accepted a Biologics License Application for its β-thalassemia drug for priority review. This could potentially be the first one-time treatment that addresses the underlying genetic cause of disease for patients with β-thalassemia in the U.S. Besides that, we also saw the likes of Mirati Therapeutics (NASDAQ: MRTX) and Verastem Oncology (NASDAQ: VSTM) entering a clinical collaboration agreement. The two will combine to evaluate treatment options for mutant non-small cell lung cancer. In particular, data from this trial could help to better understand how the treatment could help improve patient outcomes. With all these in mind, here are four top biotech stocks in the stock market today worth looking at.
Best Biotech Stocks To Watch This Week
- BioNTech SE (NASDAQ: BNTX)
- Longeveron Inc (NASDAQ: LGVN)
- BioMarin Pharmaceutical Inc. (NASDAQ: BMRN)
- Arcus Biosciences Inc (NYSE: RCUS)
BioNTech
Let us start the list with the Germany-based clinical-stage biotech company, BioNTech. Put simply, the company focuses on patient-specific immunotherapies for the treatment of cancer and other serious diseases. As most people would know by now, the company and Pfizer (NYSE: PFE) developed one of the most effective coronavirus vaccines in the market today.
Last Friday, the company announced that the U.S. FDA has granted Fast Track Designation for its BNT111. This is an investigational cancer immunotherapy for the potential treatment of advanced melanoma. With the Fast Track Designation, the development of BNT111 can expect more engagements with the FDA. Well, this means that more support can be expected for the development of the potential treatment.
On top of that, the FDA has also expanded the emergency use authorization (EUA) of a booster dose for the company’s coronavirus vaccine to include individuals 18 years of age and older. It is to be administered at least six months after completion of the primary series. So, more individuals will be able to preserve a high level of protection against the viral disease. All things considered, would you say that BNTX stock is a top biotech stock to watch now?
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Longeveron
Another company in the biotech space that has been soaring would be Longeveron. In detail, the clinical-stage biotech company focuses on the development of cellular therapies for specific aging-related conditions. Impressively, LGVN stock has almost tripled its value over the past week.
Its recent hike is largely driven by the FDA approval of Lomecel-B for the treatment of Hypoplastic Left Heart Syndrome (HLHS). Each year, approximately 1,000 babies are born with HLHS and it is often fatal without surgical intervention. These babies have an underdeveloped left ventricle which impairs the heart’s ability to pump blood throughout the body. So, the introduction of Lomecel-B could have a significant impact on how we treat these babies in the future.
The Lomecel-B is an investigational allogeneic, bone marrow-derived medicinal signaling cell product. Its ongoing Phase 2 clinical trial is showing encouraging results. The drug will represent a unique approach that could potentially be administered at the same time as surgery. With such promising developments, it would not be surprising to see investors keeping an eye on the stock. Thus, do you think LVGN stock will have more room to run?
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BioMarin Pharmaceutical
BioMarin Pharmaceutical is a biotech company that develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Some of its notable commercial products would include Aldurazyme (laronidase), Brineura (cerliponase alfa), Vimizim (elosulfase alfa), Voxzogo (vosoritide), and many more.
Last week, the company announced that the U.S. FDA has granted accelerated approval to VOXZOGO™ for injection. This is to increase linear growth in pediatric patients with achondroplasia five years of age and older with open epiphyses. The accelerated approval is based on an improvement in annualized growth velocity. Safe to say, it is an important milestone for the company as physicians will be able to offer a therapy that targets the root cause of the condition.
It is also noteworthy that the FDA has issued a Rare Pediatric Disease Priority Review Voucher (PRV). This means that the company will get priority review to a subsequent drug application that would not otherwise qualify for priority review. As a whole, this can only be a positive development for the company in the long term. With that in mind, would you consider adding BMRN stock to your watchlist?
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Arcus Biosciences
To sum it up, we will be looking at Arcus Biosciences. Essentially, this is another clinical-stage biotech company that focuses on cancer therapies. The company believes that combining therapeutic strategies to activate the immune system will have the potential to achieve cures that could eradicate cancer. RCUS stock has risen more than 80% since the start of the year.
Recently, Gilead Sciences (NASDAQ: GILD) announced that it has exercised its options to three programs in Arcus’s clinical-stage portfolio. These include both anti-TIGIT molecules, domvanalimab, and AB308, as well as etrumadenant and quemliclustat. Encouraging early clinical data for each of the three programs has been the catalyst for early opt-in.
Looking at the big picture, both companies are now able to accelerate the clinical development and advancement of these clinical-stage molecules. Also, it will facilitate the exploration of treatment combinations across the portfolios. Furthermore, the early exercise of Gilead’s options will now ensure that Arcus is well-positioned to deliver benefits to patients with some of the most difficult to treat cancers. Given such considerations, would RCUS stock be worth investing in now?
