The biotech sector has thrown plenty of winners over the course of the last decade or so and if experts are to be believed then it is going to continued to do so for the foreseeable future. Great advancements are being made in the biotech industry and many companies are working on a highly advanced product.
In such a situation, it is imperative for an intelligent investor to look for companies worth investing in. One should watch the latest developments in the sector and track specific companies closely. Here is a look at two biotech stocks that are worth watching.
The first biotech stock to watch is that of Neoleukin Therapeutics Inc (NLTX), which has managed to gain significantly over the past two weeks. On November 13, the company released its third-quarter results and since then it has rocketed by as much as 75%. The Canadian company made a loss of $59.1 million in the quarter, which worked out to $2.26 per share.
The company is a biopharmaceutical company that is involved in immunotherapies using de novo protein design technology. The company’s lead product candidate is NL-201, which is an amalgamation of both IL-2 and IL-15 and helps in removing alpha receptor binding.
The other biotech stock that is worth watching is Verastem Inc (NASDAQ:VSTM). It made significant gains over the past week. On Monday, the company announced that it has submitted a Marketing Authorization Application for its product COPIKTRA to the European Medicines Agency.
COPIKTRA is a phosphoinositide 3-kinase. It’s meant for patients suffering from refractory chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL) and relapsed or refractory follicular lymphoma (FL).
The company is seeking approval for the same in the European market. Verastem stated that it has seen significant improvement in patients who used the product. The stock rocketed by as much as 60% after the news broke and remains one of the stocks to watch this week.