Investors may want to keep an eye on the biotech boom heading into 2023.
For one, the sector is still one of the safest, most recession-proof investments around. Two, an aging population is demanding better treatment in an effort to live longer lives. Three, there’s incredible new innovation in gene therapies, immuno-oncology, precision medicine, machine-learning drug discovery, and treatments for unmet medical needs.
We can even trade upcoming US FDA decisions. Granted, these can be risky bets. But they can really turn into big winners.
Look at Hoth Therapeutics (HOTH).
The stock is up 153% today on news the US FDA just accepted the company’s Investigational New Drug Application (NDA) for its T-001 therapeutic for the treatment for rash and skin disorders associated with epidermal growth factor receptor (EGFR) inhibitor therapy.
Or, look at TG Therapeutics (TGTX).
The stock is up about 30% after the US FDA approved the company’s multiple sclerosis drug for adults with a relapsing form of the disease. One source, says TipRanks.com, suggested TGTX could see at least $1 billion in sales from it within two years.
Heading into 2023, there are similar opportunities.
Look at Ardelyx, for example.
The stock could move even more after the US FDA’s Cardiovascular and Renal Drugs Advisory Committee (CRDAC) voted in favor of its kidney disease drug. The ruling also covers the drug’s use in patients with chronic kidney disease that are on dialysis. That’s all great news, and could lead the US FDA to approve the drug in 2023.
Or, look at Altimmune (ALT).
In 2023, ALT is expected to release 24-week interim results from its ongoing mid-stage obesity trial with pemvidutide. If successful, it could provide a significant catalyst for the stock. So far, we know “The Phase I clinical trial was successful, leading the company to make high claims about the drug’s potential, saying that it could be as effective as bariatric surgery and that it mimics the effects of diet and exercise,” as noted by PharmaLive.com. We also know that pemvidutide has the potential to achieve weight loss comparable to bariatric surgery.
Better, there are many more we’re watching.