For an industry whose main goal is to discover breakthroughs in the world of medicine and health, the biotech sector has been doing exactly that. Incredible innovation is happening before our eyes in everything from advanced skin care cream to new forms of cancer treatment and beyond.
As a result, the optimism regarding medical advancements has also trickled into public sentiment regarding investor interest. With that being said, below are biotech stocks that have a positive outlook.
Incyte Corporation (INCY): FDA Gives Okay
Incyte Corporation is a biopharmaceutical company focused on the discovery, development, and commercialization of various therapeutics based on its intellectual property. Recently, the company has steadily continued coming out with encouraging news about their progress in drug development.
In late May, it was announced that their proprietary drug, Jakafi, was given authorized approval by the FDA for steroid-refractory acute GVHD in adult and pediatric patients 12 years and older. Incyte CEO said, “This approval is also an important milestone for Incyte, as it marks the third indication for Jakafi in the United States, further underscoring Incyte’s commitment to delivering innovative medicines for patients in need.”
Proceeding that, in July the company announced their partnership with Zai Labs to develop their INCMGA0012, an investigational anti-PD-1 monoclonal antibody, in Greater China. As per the agreement, Zai Labs will pay Incyte US$17.5 million up front, and Incyte is eligible to receive up to an additional US$60 million at potential development, regulatory, and commercial milestones.
Overall, Incyte is a company making headwinds with their ambitions via new partnerships and authorizations. As they continue to do so, this is one company to keep tabs on.
Fate (FATE): Clearance From FDA
Fate Therapeutics, a clinical-stage biopharmaceutical company, develops programmed cellular immunotherapies for cancer and immune disorders worldwide. Since the start of 2019, the company has come out with positive headlines.
When Fate came out with their Q4 report in March of 2019, they highlighted the recent authorization from the FDA for their product candidate, FT516. The significance of this can’t be overstated because it is the first-ever cell product derived from a genetically engineered pluripotent stem cell cleared for clinical testing worldwide.
More recently, in July, the company announced the newest addition to their Board of Directors, stating, “Shefali is an accomplished leader with proven expertise…We look forward to benefiting from Shefali’s breadth of clinical and regulatory experience at this exciting time for the Company as we advance our deep pipeline.”
Looking forward, as Fate continues to align themselves with the right team and continues to advance their research and development pipeline, they are well-positioning themselves for a bright future, and therefore, this is one company to keep tabs on.
Hemispherx (HEB): Data Readouts Coming Soon.
Hemispherx is an immuno-pharma company focused on the research and development of therapeutics to treat multiple types of cancers and immune-deficiency disorders. In other words, the company uses a specialized form of treatment that allows a patient’s own body to be better equipped to fight cancer.
To that point, Hemispherx has multiple ongoing clinical trials designed to study the effectiveness of their proprietary drug, Ampligen. In June of this year, the company came out with the positive news that progress was being made to that end, including news that the first patient had been treated with Ampligen in an ovarian cancer trial.
Furthermore, the CEO explained that steady progress is critical to the long-term success of stockholders. Not to mention, success in any one of the trials can potentially be a strong driver in the market.
All things considered, Hemispherx is well-positioning themselves to advance toward their ambitions as they continue to work to fight cancer, arguably the public’s most dreaded disease. Looking forward, the company is expecting data readouts in the near future for numerous trials and is worth keeping an eye on.
Cara (CARA): FDA Approval In The Making
Cara Therapeutics is a clinical-stage biopharmaceutical company focused on developing and commercializing chemical entities with a primary focus on pruritus and pain. In other words, they are designing solutions that combat itchiness and pain, especially that from chronic kidney disorders.
In line with that ambition, the company recently came out with encouraging news regarding their leading drug candidate, Korsuva. In the report it was stated that patients have experienced positive outcomes from injections of the drug, including less severe itching, and therefore an increase in quality of life.
Despite the positivity, it’s important to note that FDA approval has not been authorized as of yet. However, with the current status of the trials, there is a likelihood that progression will be smooth-sailing in that regards.
On the whole, as Cara continues to make advancements with their clinical trials and sees encouraging data results, this is one biotech company worth keeping an eye on.
Palatin (PTN): Newly-Approved Drug Hitting Shelves In Fall
Finally, Palatin is a biopharmaceutical company developing drug products for various conditions, some of which including sexual desire disorders.
The company recently made headlines when it was announced that a huge milestone was reached; the FDA authorized approval for Vylessi – a drug made by Palatin.
The company is working in conjunction with AMAG, who submitted the approved New Drug Application and is also licensing the drug for Palatin. The result is a $60 million payout and future royalty fees on sales of the product when it hits stores in September.
In similar news, the FDA recently granted orphan drug designation for PL-8177, Palatin’s lead drug candidate for inflammatory bowel disease.
Overall, Palatin is a company that is making serious efforts to break ground in numerous areas of treatment. As they continue on this path of evolution, this is one stock to keep tabs on.
The biotech sector is a market with innovation happening across all sides of the spectrum. As new products and solutions continue to be created and seek to enter the market, some companies are making great efforts to capitalize on their ambitions. To that end, the stocks discussed above are some to pay attention to in the future.
CNA Finance, parent company to iWatch Markets has a monetary relationship with Hemispherx Biopharma. Click here to read all relevant disclosures.