Biotechnology is one of the hottest sectors at the moment and a range of companies are doing a lot of amazing work that has further raised the stature of the industry considerably over the past decade or so.
More often than not, if a company has an important breakthrough then it’s stock price generally surges. Over the course of 2019, some biotech stocks have won big following the surge in the move that biotech has made. Here is a look at four notable biotech stocks to watch for July:
PharmaCyte Biotech, Inc. (PMCB)
If you’re looking at PharmaCyte Biotech (PMCB) at this exact moment, you’re seeing it before the company begins clinical trials. Just as it’s preparing to complete its Investigational New Drug application for the FDA.
Whether you’re new to biotech stocks or a seasoned vet, you should understand how important milestones are for a company. The United States Food and Drug Administration’s Investigational New Drug (IND) program is the means by which a pharmaceutical company obtains permission to start human clinical trials and to ship an experimental drug across state lines before a marketing application for the drug has been approved.
Why put this on your list of biotech stocks to watch for July? Right now, PharmaCyte Biotech (PMCB) is putting together the necessary material for its planned clinical trial for inoperable pancreatic cancer, one of the most deadly forms of cancer today.
Adverum Biotechnologies (ADVM)
The second biotech company to add to the list is Adverum Biotechnologies Inc (NASDAQ:ADVM). The company has had a strong 2019 so far and surged by as much as 56%. This comes on the back of positive developments with regards to its eye disease gene therapy medicine ADVM-022.
Back in April, Adverum gave patients doses of ADVM-022. This development proved that the medicine was still effective. Additionally, the FDA also lifted the hold that had prevented Adverum from testing out a higher dose of the medicine. That proved to be another trigger for an upsurge.
Tyme Technologies (TYME)
On the other hand, Tyme Technologies Inc (NASDAQ:TYME) has been on a tear since last Friday. It published positive data from the Phase 2 study of its treatment for pancreatic cancer, SM-88.
The median overall survival of patients suffering from pancreatic cancer stood at 6.4 months after taking the medicine and it compares highly favorably to the average that stands at 2 to 2.5 months. After this update, the stock rose by 50% and is definitely a biotech stock that should be tracked by investors.
Acasti Pharma (ACST)
Another biotech stock that has been on a tear over recent days has been Acasti Pharma Inc. (NASDAQ:ACST), which has gained as much as 70% over the course of the past month. The company devises treatments for severe hypertriglyceridemia. Acasti stated that 2019 had been an eventful year for the company thus far.
This biotech stock posted losses of $51.6 million in 2019, it was due to higher costs and TRILOGY Phase 3 program. Acasti actually ended the year with as much as $34.4 million in cash. The stock has surged by 70% over the course of the past month.