The biotechnology industry is considered to be an attractive industry for investors as the investors are always looking for safe and secure investments. This industry is a good option for investors as it is a strong and profitable industry. Companies in the biotechnology industry are continuously striving and exploring treatment for rare diseases. This industry has a significant contribution to the well-being of society. The biotechnology industry is constantly experiencing tech improvements and new scientific discoveries.
Technology has always been at the heart of the biotechnology industry. New technological advancements are helpful for the biotechnology industry. This industry is anticipated to show a higher growth rate over the period of the next seven years. Globally, it is predicted that this industry will generate massive revenue in the coming years and it will also provide investment opportunities to investors who want to invest in the research and development of this industry.
The following are the leading companies in the biotechnology industry. Let check how these companies are providing the best services to their clients:
Sorrento Therapeutics Inc. (NASDAQ: SRNE)
Sorrento Therapeutics Inc. (NASDAQ: SRNE) shares were trading down -10.49% at $9.30 at the time of writing on Friday. Sorrento Therapeutics Inc. (NASDAQ: SRNE) share price went from a low point around $1.45 to briefly over $19.39 in the past 52 weeks, though shares have since pulled back to $9.30. SRNE market cap has remained high, hitting $2.72B at the time of writing, giving it a price-to-sales ratio of more than 70.
Sorrento Therapeutics Inc. (SRNE) has announced earlier that it has secured the receipt of clearance from a Brazilian regulatory agency to continue with a Phase 2 clinical trial of Abivertinib in mild, moderate, and severe COVID-19 patients. If we look at the recent analyst rating SRNE, H.C. Wainwright reiterated coverage on SRNE shares with a Buy rating.
EyePoint Pharmaceuticals Inc. (NASDAQ: EYPT)
EyePoint Pharmaceuticals Inc. (EYPT) last closed at $0.48, in a 52-week range of $0.46 to $2.69. EyePoint Pharmaceuticals Inc. (EYPT) revealed changes to its existing debt facility with CRG Servicing LLC (CRG). Under the terms of the amendment, CRG has waived the covenant associated with the Company’s net product revenue of DEXYCU and YUTIQ for the twelve-month period ending on December 31, 2020.
Vaxart Inc. (NASDAQ: VXRT)
Vaxart Inc. (VXRT) stock drop by -3.49% to $6.08. The most recent rating by H.C. Wainwright, on August 12, 2020, is at a Buy. The Schall Law Firm disclosed that the class-action lawsuit has been lodged against Vaxart, Inc. (VXRT) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Novan Inc. (NASDAQ: NOVN)
Novan Inc. (NASDAQ: NOVN) shares headed falling, lower as much as -4.59%. The most recent rating by Piper Jaffray, on January 06, 2020, is at a Neutral. Novan Inc. (NOVN) revealed earlier that the positive in vitro results exhibited the potential efficacy of its NITRICIL™ platform technology as an antiviral against SARS-CoV-2, the virus that causes COVID-19.
Akebia Therapeutics Inc. (NASDAQ: AKBA)
Akebia Therapeutics Inc. (NASDAQ: AKBA) rose 3.42% after gaining more than $0.13 on Friday. Akebia Therapeutics Inc. (AKBA) revealed that it is scheduled to present data from its global Phase 3 programs of vadadustat for the treatment of anemia due to chronic kidney disease (CKD) in adult patients on dialysis ) and not on dialysis at the American Society of Nephrology Kidney Week 2020 Reimagined (ASN Kidney Week) on October 22 – 25, 2020.
Royalty Pharma plc (NASDAQ: RPRX)
Royalty Pharma plc (RPRX) last closed at $41.81, in a 52-week range of $38.54 to $56.50. Analysts have a consensus price target of $52.67. Royalty Pharma plc (RPRX) disclosed today that it is scheduled to announce its third-quarter 2020 financial results on Wednesday, November 11, 2020, before the U.S. financial markets open.
Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX)
Vertex Pharmaceuticals Incorporated (VRTX) stock soar by 1.30% to $218.08. The most recent rating by H.C. Wainwright, on July 31, 2020, is at a Buy. Vertex Pharmaceuticals Incorporated (VRTX) shared an update on its clinical programs targeting the small molecule correction of alpha-1 antitrypsin deficiency (AATD).
iBio Inc. (AMEX: IBIO)
iBio Inc. (AMEX: IBIO) Shares headed falling, lower as much as -1.44%. The most recent rating by Alliance Global Partners, on June 26, 2020, is at a Buy. iBio Inc. (IBIO) earlier revealed it has appointed Dr. Alexandra Kropotova to its Board of Directors, effective as of October 14, 2020. Dr. Kropotova has also been chosen as a member of iBio’s new Science & Technology Committee, which shall be chaired by Dr. Philip Russell.
Onconova Therapeutics Inc. (NASDAQ: ONTX)
Onconova Therapeutics Inc. (NASDAQ: ONTX) last closed at $0.29, in a 52-week range of $0.10 to $1.56. Onconova Therapeutics Inc. (ONTX) earlier disclosed that Dr. Steven M. Fruchtman, President and Chief Executive Officer, will present a company update during the 2020 BIO Investor Forum Digital event taking place October 13-15. Dr. Fruchtman and Avi Oler, Senior VP, Corporate Development, will be available for 1×1 meetings scheduled through the Bio Partnering system.
Moderna Inc. (NASDAQ: MRNA)
Moderna Inc. (NASDAQ: MRNA) Shares headed falling, lower as much as -2.17%. The most recent rating by SVB Leerink, on September 08, 2020, is at an Underperform. Moderna Inc. (MRNA) has earlier disclosed the initiation of a rolling submission to Health Canada for mRNA-1273. This initiation follows positive results from a preclinical viral challenge study of mRNA-1273 and the positive interim analysis of the Phase 1 study of mRNA-1273 in healthy adults and older adults.
Selecta Biosciences Inc. (NASDAQ: SELB)
Selecta Biosciences Inc. (NASDAQ: SELB) rose 18.01% after gaining more than $0.38 on Friday. Selecta Biosciences Inc. (SELB) has earlier announced an agreement with IGAN Biosciences, Inc. The agreement is the Research License and Option agreement signed to study Selecta’s ImmTOR™ immune tolerance platform in combination with IGAN’s immunoglobulin A (IgA) protease for the treatment of IgA Nephropathy (IgAN).
Immunomedics Inc. (NASDAQ: IMMU)
Immunomedics Inc. (NASDAQ: IMMU) stock soar by 0.08% to $87.56. The most recent rating by Barclays, on May 05, 2020, is at an Overweight. Immunomedics Inc. (IMMU) disclosed that the Office of Orphan Products Development of the U.S. Food and Drug Administration (FDA) has granted Trodelvy orphan status for the treatment of adult and pediatric patients with glioblastoma.
Clovis Oncology Inc. (NASDAQ: CLVS)
Clovis Oncology Inc. (NASDAQ: CLVS) fall -0.75% after losing more than -$0.05 on Friday. Clovis Oncology Inc. (CLVS) share price went from a low point around $2.93 to briefly over $17.37 in the past 52 weeks. It has moved up 102.56% from its 52-weeks low and moved down -65.83% from its 52-weeks high. CLVS market cap has remained high, hitting $532.72 million at the time of writing.
Inovio Pharmaceuticals Inc. (NASDAQ: INO)
Inovio Pharmaceuticals Inc. (NASDAQ: INO) stock drop by -2.95% to $11.85. The most recent rating by Maxim Group, on September 28, 2020, is at a Buy. Inovio Pharmaceuticals Inc. (INO) share price went from a low point around $2.09 to briefly over $33.79 in the past 52 weeks. It has moved up 456.84% from its 52-weeks low and moved down -65.56% from its 52-weeks high. INO market cap has remained high, hitting $2.05 Billion at the time of writing.
MannKind Corporation (NASDAQ: MNKD)
MannKind Corporation (NASDAQ: MNKD) last closed at $2.00, in a 52-week range of $0.80 to $2.48. MannKind Corporation (MNKD) has moved up 157.08% from its 52-weeks low and moved down -17.07% from its 52-weeks high. MNKD market cap has remained high, hitting $441.20 Million at the time of writing.
