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July 20, 2021, 3:58 p.m. EDT

4 Trending Biotech Stocks To Watch This Week

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Johnson & Johnson

Next, we have another major player in the development of COVID-19 vaccines in Johnson & Johnson (JNJ). For those unfamiliar, the company engages in the research and development, manufacture, and sale of a range of products in the healthcare field. JNJ stock has been trading sideways since the start of the year. That said, with investors shifting their focus back on the vaccination companies, JNJ stock could be back in the limelight.

Earlier this month, JNJ announced data demonstrating its single-shot COVID-19 vaccine generated strong, persistent activity against the rapidly spreading Delta variant and other variants. In addition, the data showed that the durability of the immune response lasted for at least eight months. Any positive development on this front is welcome at this point, seeing as how cases are still rising despite extensive vaccination rollouts.

Tomorrow, JNJ will be announcing its second-quarter financial update. So, let us take this opportunity to review its first-quarter performance to gauge what to expect. For its first quarter, sales came in at $22.3 billion, reflecting a growth of 7.9% year-over-year. Also, net profit was $6.19 billion, representing an increase of 6.9%. A strong financial foundation is paramount for any company. All things considered, would you buy JNJ stock ahead of its earnings report?

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Cytokinetics, Inc

Last but not least, we have the late-stage biopharmaceutical company that has been popping off lately, Cytokinetics. Put simply, it is a company that specializes in the treatment of debilitating diseases using muscle activators and inhibitors. Its drug candidates include omecamtiv mecarbil and reldesemtiv. Both of which are in Phase III and Phase II clinical trials respectively. CYTK stock skyrocketed by over 40% this week. So, let us see why.

Well, it was driven by the announcement of positive topline results from its Cohorts 1 and 2 of REDWOOD-HCM, the Phase II clinical trial of CKT-274. It is an investigational cardiac myosin inhibitor in development for the potential treatment of hypertrophic cardiomyopathy (HCM). The results demonstrated that treatment with CK-274 for 10 weeks showed significant reductions from baseline compared to placebo in the average resting left ventricular outflow tract pressure gradient and the average post-Valsalva LVOT-G.

Not only that, most of the patients treated achieved the target goal of treatment. Out of which, the resting gradient is <30 mmHg and the post-Valsalva gradient is <50 mmHg at week 10 compared to placebo. With this, it supports the progression of CK-274 to a planned 3 registrational clinical trial which is expected to commence before year-end. This development could just be the one that could propel the company to greater heights in the biotech space. With this in mind, would you buy into the future of CYTK stock?

COMTEX_390133479/2688/2021-07-20T15:58:21

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

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