Do You Have These Top Biotech Stocks On Your Radar Today?
With the global pandemic raging on, biotech stocks have and continue to take center stage in the stock market today. This would be the case since Pfizer’s (NYSE: PFE) and BioNTech’s (NASDAQ: BNTX) initial coronavirus vaccine breakthrough late last year. Not only is the importance of the industry being discussed daily but the general public is learning more about the internal processes as well. As a result, new and seasoned investors alike could be seeing value among biotech stocks more than before now.
Overall, as the delta variant of the coronavirus continues to wreak havoc across the globe, these trends could persist. Sure, companies such as Moderna (NASDAQ: MRNA) are actively looking for new means of combating the virus. This would be where additional booster shots come into play. Aside from that, the biotech industry remains hard at work researching treatments for countless other deadly diseases. Just last week, BeyondSpring (NASDAQ: BYSI) revealed positive topline results from trials of its Non-Small Cell Lung Cancer treatment. Since then, BYSI stock has skyrocketed by over 140%. In the case that all this has you keen on the sector, here are four top biotech stocks to watch in the stock market now.
Best Biotech Stocks To Buy [Or Avoid] Now
- Crispr Therapeutics (NASDAQ: CRSP)
- Cassava Sciences Inc. (NASDAQ: SAVA)
- AbbVie Inc. (NYSE: ABBV)
- C4 Therapeutics Inc. (NASDAQ: CCCC)
CRISPR Therapeutics AG
CRISPR Therapeutics is a biotech company with headquarters in Zug, Switzerland. It is a leading gene-editing company that is focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. The platform will allow the company to make precise and directed changes to genomic DNA. With that, the company has established a portfolio of therapeutic programs across a broad range of disease areas. This includes oncology, regenerative medicine, and rare diseases. CRSP stock currently trades at $134.45 as of 2:16 p.m. ET and is up by over 45% in the past year.
In late July, the CRISPR provided a business update for its pipelines and reported its second-quarter financials. Among the highlights, the company received Orphan Drug Designation (ODD) for Phase 1 clinical trial of its CTX130 candidate for the treatment of T-cell lymphoma. CTX130 is an investigational therapy that targets a cluster of differentiation 70, or CD70, an antigen expressed on various solid tumors and hematologic malignancies.
The company also ended the quarter with $2.59 billion in cash, cash equivalents, and marketable securities. The company also reported total collaboration revenue was $900.2 million for the quarter, primarily consisting of the $900 million upfront payment from Vertex Pharmaceuticals. All things considered, will you watch CRSP stock?
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Cassava Sciences Inc.
Cassava Sciences is a clinical-stage biopharma company that discovers and develops innovations for chronic, neurodegenerative conditions. In essence, the company combines state-of-the-art technology with new insights in neurobiology to develop novel solutions for Alzheimer’s disease. SAVA stock currently trades at $123.99 as of 2:19 p.m. ET and is up by a whopping 1,645% year-to-date. On August 3, 2021, the company reported its second-quarter financials.
Firstly, Cassava reported that it ended the quarter with $278.3 million in cash and has no debt. Net cash used for operations for the full year 2021 is expected to be approximately $20 to $25 million. This is driven by higher headcount and personnel expenses and manufacturing costs around large-scale drug supply.
On July 29, 2021, the company also announced that its Simufilam drug significantly improves cognition in patients with Alzheimer’s in an interim analysis of an open-label study at 9 months. “We are very pleased with the overall consistency of data,” said Remi Barbier, President & CEO. “Simufilam improved cognition, biomarkers, and behavior, a triple-win for study participants. These clinical data combined with a clean safety profile and easy oral administration suggest highly encouraging and durable treatment effects for people living with Alzheimer’s disease.” With that being said, will you consider adding SAVA stock to your watchlist?
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AbbVie Inc.
AbbVie is a biopharmaceutical company that is based in Illinois. The company develops innovative medicines to solve serious health issues today. Its key therapeutic areas include immunology, oncology, neuroscience, and virology for instance. Furthermore, it boasts a large pipeline of drugs and therapies. Notably, this includes treatments for ulcerative colitis and rheumatoid arthritis. ABBV stock currently trades at $115.66 as of 2:26 p.m. ET.
On July 30, 2021, the company announced a strong second quarter. It delivered net revenue of $13.96 billion, an increase of 33.9% year-over-year. A chunk of this revenue came from its immunology portfolio, at $6.12 billion, an increase of 15.1% compared to a year earlier. The company also reported diluted earnings per share of $0.42 for the quarter. With that in mind, do you think ABBV stock is a top biotech stock to watch right now?
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C4 Therapeutics Inc.
Last but not least, we will be taking a look at C4 Therapeutics. In brief, the company specializes in researching small-molecule drugs that “selectively destroy disease-causing proteins via degradation”. C4 achieves this via the innate mechanisms within human cells. According to the company, this means of treatment provides several key advantages over conventional treatments today. This includes the potential to treat a wider array of diseases, higher potency, and less undesired side effects. As it stands, CCCC stock currently trades at $39.13 as of 2:27 p.m. ET after gaining by over 8%.
Notably, CCCC stock appears to be benefitting from the company’s latest announcement. Yesterday, C4 revealed that the FDA has granted ODD to its multiple myeloma treatment. In detail, an ODD from the FDA would benefit C4’s treatment in several ways. This mainly includes financial incentives and up to seven years of market exclusivity after receiving U.S. regulatory approval.
Also, this would be a win for C4 on the operational front. According to chief medical officer Adam Crystal, the company remains on course to advance its Phase 1/2 trials. After considering all of this, will you be adding CCCC stock to your portfolio?
