The global biotechnology market is expected to grow at a compound annual growth rate of 15.83% from 2021 to 2028 to reach USD$2.4 trillion by 2028 according to Grand View Research. The industry is on the upswing and several stocks in the sector require your immediate attention.
ImmunoPrecise Antibodies, Ltd. (NASDAQ: IPA) recently announced a 460 thousand Euro grant for its subsidiary Biostrand. This is just the latest positive cash flow news for the diversified biotech company. The company earns revenues from sales of proteins to other research and preclinical companies, and is developing therapies and drugs through its subsidiaries.
Its most recent quarterly filing (2022 fiscal Q3 ending Jan. 31, 2022) painted a healthy capitalization picture for investors.
- CA$32 million in cash, CA$56 million in assets
- CA$14.1 million in revenues for the 9 month period creating CA$7.6 mill in gross profit
- CA$4.8 million for the quarter creating CA$2.5 million in profit
- CA$5.7 million in R&D expenses (9 mo) up from $1.3 million in 2021– the largest driver in the increased net loss.
Biotech is one of the few industries where a net loss isn’t an outright negative indicator. Many biotechnology companies are pre-revenue so they operate in the red exclusively. Conversely, IPA is already earning revenue through the sale of mammalian proteins to companies for research and preclinical studies, this along with healthy cash flow allows the company to continue funding studies for its R&D wing Talem Therapeutics.
IPA through Talem is moving its novel candidate PolyTope ® (TATX-03), an anti-COVID therapy, through the clinical pipeline; it is on the verge of Stage 1. The company has several other therapies, vaccines, and medicines in the R&D pipeline; however, PolyTope is the lead candidate. (view the full pipeline here: https://talemtherapeutics.com/pipeline/)
The company announced in April that its PolyTope cocktail has shown strong neutralization of the Omnicron COVID variant. Currently, most therapies approved by the FDA Emergency Use Authorization have lost neutralizing potency against Omnicron. IPA through conversations with the FDA anticipated this and has prioritized potency screening to help differentiate itself.
IPA is close to its next filing period which could be a catalyst for the stock; any updates on PolyTope’s progress could also send the stock soaring. So, investors interested should start researching IPA today.
Another small cap biotech making positive news, SIGA Technologies (NASDAQ: SIGA), recently announced the U.S. Department of Defense awarded a contract to the company for the procurement of up to approximately $7.5 million of oral TPOXX, of which approximately $3.6 million of oral TPOXX is targeted for delivery in 2022 and the remainder is subject to an option at the sole discretion of the DoD.
MannKind Corporation (Nasdaq: MNKD), a company focused on the development and commercialization of therapeutic products for people living with endocrine and orphan lung diseases, has entered into an agreement with Zealand Pharma A/S (Nasdaq: ZEAL) to acquire V-Go® for $10 million. V-Go is a once-daily, wearable, insulin delivery device that helps provide blood sugar control for everyday lifestyles. Designed to be patient-friendly, V-Go is worn like a patch and eliminates the need for taking multiple daily shots.
INOVIO (NASDAQ:INO), a biotechnology company focused on developing and commercializing DNA medicines to help protect people from infectious diseases and treat people with cancer and HPV-associated diseases, announced its CEO Jacqueline Shea, Ph.D., will participate in a fireside chat and 1x1 investor meetings at the Jefferies 2022 Healthcare Conference on Wednesday, June 8th, 2022.
Like IPA, CTI BioPharma Corp. (Nasdaq: CTIC) reported its recent financial results. CTIC’s numbers represented the first quarter ending March 31, 2022.
"With the accelerated FDA approval and U.S. commercial launch of VONJO, the first quarter was transformational for CTI and the myelofibrosis community. We are thrilled to now be delivering VONJO for patients with cytopenic myelofibrosis who have platelet counts below 50 x 109/L. Our U.S. commercial team has been in the field since early March and has delivered net product revenue of $2.3 million in less than a month, exceeding our internal expectations and establishing a great foundation for future performance," said Adam Craig, President and Chief Executive Officer of CTI BioPharma. "We are also pleased that NCCN® quickly recommended VONJO for the treatment of myelofibrosis, making VONJO the only approved JAK inhibitor recommended by NCCN for these patients regardless of platelet counts."
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