Health and Healthcare
3 Stocks With Catalysts That Could Capitalize on Biotech Momentum
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Biotechnology is on the move. A familiar bull market pattern since 2008 may be about to reestablish itself. That is, the S&P 500 is moving higher, outpaced by the Nasdaq, which itself is about to be outpaced by biotech since all three bottomed in early February. If that pattern is confirmed, then a move back to the all-time highs for the iShares Nasdaq Biotechnology Index ETF (NASDAQ: IBB) within the next 12 to 18 months is a considerable possibility.
If the momentum in biotech can continue, then companies with catalysts within this timeframe could get an added boost with any good news, as more investors will be paying attention now that the bearish sentiment seems to be abating. Here are three companies with near-term catalysts worth a look now.
uniQure
uniQure N.V. (NASDAQ: QURE) just announced its most recent full-year financials, and alongside the release it provided an update on the progress of its Phase 1/2 in hemophilia B. The trial is testing AMT-060, a gene therapy that could ultimately replace the current standard of care (SOC). Hemophilia is a genetic condition that causes a blood clotting deficiency, which translates to small cuts and bruising becoming potentially fatal in sufferers.
A mutation in a gene called hFIX causes the lack of clotting, and current SOC relies on the frequent injection of the factor that derives from this gene. It is expensive (up to $340,000 annually in the United States) and painful. With AMT-060, uniQure is using a viral vector to transport working versions of the hFIX gene into a patient. If successful, it could result in natural production of the factor that otherwise requires repeated injections.
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