As you may have heard, there’s a new trend in biotech lingo wherein companies call themselves “TechBio” rather than “biotech” to emphasize their forward-thinking about the role of information technology. Biotechs like Ginkgo Bioworks (NYSE: DNA), Recursion Pharmaceuticals (NASDAQ: RXRX), and Schrödinger (NASDAQ: SDGR) could easily be described by the term, and some, like Recursion, even […]
The phrase “the golden age of biotech” was somewhat popular a few years ago but now seems largely forgotten. Regardless, biotech companies can be excellent long-term investment options for several reasons. Many are highly innovative corporations that develop breakthrough medicines for rare and hard-to-treat diseases. Even when they target more common conditions, some biotechs have […]
It’s been a tough past three years for biotech stocks. Although the COVID-19 pandemic sparked bullish interest in the industry, this interest has waned since the contagion began winding down. Between late 2021 and now, the Nasdaq Biotechnology Index is down on the order of 25% versus roughly a breakeven for the board market. As […]
Technology stocks have led general market gains, with chip companies and software giants soaring amid excitement about the new bull market. This sort of environment favors growth stocks, so it’s not surprising to see these sorts of players stand out. But if you’re looking for growth, you can find it in another industry as well. […]
Eli Lilly and Novo Nordisk are two of the biggest names in healthcare thanks in large part to some promising weight-loss drugs in their respective portfolios. In the past 12 months, Eli Lilly has doubled in value, while Novo Nordisk’s stock is up around 50%. Those who haven’t invested in these stocks may be inclined […]
Dive Brief: Uwe Schoenbeck, a biotech veteran who most recently was chief scientific officer at Pfizer’s innovation division, has joined Canaan Partners as a venture partner, the investment firm announced Wednesday. Since starting at Canaan in January, Schoenbeck has led Canaan’s involvement in a $132 million Series B round for precision cancer drug developer Alterome […]
The CEO of a California biotech company, Decision Diagnostics, claimed to have a finger-prick test that could detect Covid-19 and used multiple fake identities to pump up the company’s stock price, authorities said. The CEO, Keith Berman, was sentenced on Friday to seven years in prison for the fraud that led to $28 million in […]
(Reuters) – The chief executive of a U.S. biotechnology company that falsely promised investors it could produce a quick and accurate COVID-19 test was sentenced to seven years’ in jail on Friday, the Justice Department said. Keith Berman, 70, of Westlake Village, California, pleaded guilty last December to securities fraud totaling around $28 million. The […]
Biotech stocks heated up Thursday, driven by a spate of deals, as Novartis (NVS) scooped up a licensing pact with Arvinas Therapeutics (ARVN) and Janux Therapeutics (JANX) was said to be exploring strategic options.
The biotech industry can be attractive for several reasons. Many leading biotechs develop innovative, life-saving therapies, a business that will only be phased out once we find an all-purpose cure for all illnesses. Further, biotechs often deliver better-than-average financial results during economic downturns because the products they sell are considered necessary goods. Of course, not […]
Praxis Precision Medicines (PRAX) said Tuesday every patient in a midstage study responded to its epilepsy treatment. The top 1% biotech stock rocketed to a year-high.
Biotech stocks Argenx (ARGX) and Immunovant (IMVT) surged Thursday — while Tourmaline (TRML) shares plummeted — after a Japanese rival unveiled disappointing results for its muscle disease treatment.