Nov 01, 2021 (StockMarket.com via COMTEX) -- Are These Top Biotech Stocks Worth Investing In This Month?
Biotech stocks have and continue to make waves across the stock market today . For the most part, this would be due to the overwhelming focus on the industry amidst the pandemic. In fact, new data from Johns Hopkins University this week notes that the global coronavirus death toll is over 5 million. This would indicate that even as parts of the world reopen, the need for biotech advancements remains prominent.
For one thing, investors would continue to eye pharmaceutical giants such as Novavax ( NASDAQ: NVAX ) and Merck ( NYSE: MRK ) now. On one hand, coronavirus vaccine developer Novavax is making headlines today thanks to its slew of regulatory announcements. Firstly, it has completed its' rolling submissions to Health Canada and the European Medicines Agency for regulatory review of its vaccine candidate. Secondly, the company also received its first emergency use authorization in Indonesia.
On the other hand, Merck remains hard at work on the research and development front. Over the weekend, the company revealed positive data from a Phase 3 Trial of its KEYTRUDA, Melanoma treatment. According to Merck, the drug improved recurrence-free survival and several patients survived 7 years after receiving initial doses in another long-term study. By and large, the biotech industry is not sitting idly by amidst the current positive momentum in the stock market now.
Best Biotech Stocks To Buy [Or Sell] This Week
ABVC Biopharma Inc. ( NASDAQ: ABVC )
ANI Pharmaceuticals Inc. ( NASDAQ: ANIP )
Moderna Inc. ( NASDAQ: MRNA )
Sorrento Therapeutics Inc. ( NASDAQ: SRNE )
Sanofi ( NASDAQ: SNY )
ABVC Biopharma Inc.
To begin, we have ABVC Biopharma, a company that targets its business to the stage of drug development that moves promising drugs from the laboratory to the market at the translational phase. Specifically, drugs considered by the company are usually derived from plants, address significant illnesses, and have successfully completed pre-clinical disease animal model, and Phase 1 safety studies at world-class research institutions.
The company has received strong retail investor interest in this latest rally. In fact, the shares jumped as much as 930% in premarket trading as more than 50 million shares had been traded in the stock today compared to its 12-month daily average of around 660,000.
Last month, the company announced a joint venture agreement with Tokyo-based private investment firm Lucidam. It also recently submitted two new patent applications for an active ingredient for its candidates targeting major depressive disorder and attention-deficit hyperactivity disorder. Given the excitement surrounding the company, will you consider buying ABVC stock?
ANI Pharmaceuticals Inc.
Following that, we have ANI Pharmaceuticals, a diversified biopharmaceutical company that develops and manufactures high-quality branded and generic prescription pharmaceutical products. The company has just announced FDA approval of its Purified Cortrophin Gel for multiple indications. This would include multiple sclerosis, rheumatoid arthritis, and nephrotic syndrome.
The company's supplemental New Drug Application (sNDA) for Purified Cortrophin Gel is a purified corticotropin, which is an important treatment option for patients struggling with certain chronic autoimmune disorders.