Drug development update: Five biotech stocks to keep an eye on pending FDA decisions
Drug development goes hand-in-hand with biotech investments. A stock’s price is expected to soar once the medication is approved.
The U.S. Food and Drug Administration (FDA) is poised to make a decision on several novel drugs this month. Here are some biotech stocks whose value may skyrocket after the regulatory decision.
Merck & Co. Inc. (MRK)
Merck & Co. Inc. has been a powerhouse in both the pharma network and biotech industry for a long while. Today, its stocks are rising as Vaxneuvance — which has already been approved for adults to prevent invasive pneumococcal disease — is awaiting a decision on its expanded use for children six weeks through 17 years of age. As of writing, the stock is valued at $86.68.
Alnylam Pharmaceuticals Inc. (ALNY)
Another hot stock is ALNY, which is also expected to make waves when its investigational RNAi therapeutic Vutrisiran gets the FDA nod for the treatment of ATTR amyloidosis. Once approved, the drug is expected to hit home peak sales of more than $1 billion, making it a hot commodity in the market indeed. Currently, ALNY is valued at $163.42, a rise of 0.72% from yesterday’s market.
BioXcel Therapeutics Inc.
BioXcel Therapeutics is another leading biotech company with a wonder drug in its midst. Its commercial product, IGALMI (known as BXCL501 during development), has been recently approved by the FDA for acute treatment of agitation in adult schizophrenia and bipolar disorder. As of writing, the stock is valued at $17.11.
Regeneron Pharmaceuticals Inc. (REGN)
Another big player in the pharma and biotech industry is Regeneron Pharmaceuticals, whose latest trading session closed at $738.84, up by 2.36% from yesterday’s market. The firm hopes to maintain its upward growth curve when the FDA changes the authorization status of REGEN-COV, its renowned drug used as treatment and prophylaxis for mild to moderate COVID-19, from emergency use to regular use.
Bristol-Myers Squibb Company (BMY)
Bristol-Myers Squibb Company has been at the forefront of drug development and has consistently been among the top 500 largest corporations in the USA. The current value of the company’s stock stands at $77.77, an increase of 0.66% from yesterday. BMS expects the upward trend to continue following the FDA approval of its novel drug Mavacamten which is used to treat symptomatic obstructive hypertrophic cardiomyopathy.
As always, the stock market fluctuates daily, and it is up to investors to do their research to ensure that the investment pays off.
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