3 Biotech Stocks to Turn $10,000 Into $1 Million: January 2024
Biotech stocks are some of the most exciting opportunities on the market.
Find the right ones with substantial catalysts and make a fortune. Look at CRISPR Therapeutics (NASDAQ:CRSP), for example. Late last year, the gene-editing stock ran from about $38 to a high of almost $77 on news a U.S. FDA advisory committee recommended full approval of its treatment for sickle cell disease.
Or look at SpringWorks Therapeutics (NASDAQ:SWTX), which ran from about $21 to a high of $42.90. This was after the U.S. FDA approved its drug treatment for desmoid tumors, non-cancerous growths found in connective tissue.
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The best part is that plenty of opportunities like these are in the market. Here are three biotech stocks you may want to consider today.
Viking Therapeutics (VKTX)
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Since the start of 2023, Viking Therapeutics (NASDAQ:VKTX) ran from a low of about $8 to a recent high of $21.77. From here, it could easily see higher highs. All thanks to its potential obesity treatment, VK2735. Helping, the company just completed patient enrollment in its Phase 2 clinical trial of the drug, with results expected in the first half of this year.
We know its Phase 1 study demonstrated that treatment with VK2735 was safe and well-tolerated for up to 28 days in healthy, obese volunteers. It led to an average weight loss of about 18 pounds from baseline.
“The high level of interest in this trial allowed us to enroll the study more rapidly than anticipated and significantly exceed our original enrollment target. This speaks both to the continued unmet needs of patients with obesity and the promise demonstrated by the encouraging Phase 1 study data from VK2735 reported earlier this year,” said Brian Lian, Ph.D., chief executive officer of Viking, in a company press release.
Mersana Therapeutics (MRSN)
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With growing interest in antibody-drug conjugates (ADCs), which deliver cancer-killing therapy to target and kill cancer cells while minimizing damage to healthy cells, keep an eye on Mersana Therapeutics (NASDAQ:MRSN). For one, we’re already seeing substantial M&A with related ADC stocks. For example, Johnson & Johnson (NYSE:JNJ) announced it would acquire ADC-company Ambrx Biopharma (NASDAQ:AMAM).
Two, ADCs are called a “new era in cancer therapy.”
According to. Dr. Giuseppe Banna, a Consultant Medical Oncologist for lung and urology tumors and Molecular Lead at the Department of Oncology of Portsmouth Hospitals University, said, “Antibody-drug conjugates (ADCs) are currently one of the fastest growing directions in tumor treatment, and great progress has been made in the areas of breast cancer, other solid tumors (such as gastric cancer, colorectal cancer, lung cancer), and hematological malignancies.”
Even more impressive, according to CNBC, ADCs could account for about $31 billion of the $375 billion global cancer market by 2028. Companies, such as Pfizer (NYSE:PFE), also bet its $34 billion acquisition of ADC-company Seagen will help turn things around for the company.
Intellia Therapeutics (NTLA)
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We can also look at popular biotech stocks, like Intellia Therapeutics (NASDAQ:NTLA).
For one, gene editing could revolutionize the way we treat diseases. CRISPR Therapeutics got U.S. FDA approval for its sickle cell treatment. But that’s just the start. Such therapies are also showing potential for cardiovascular diseases, cancer, and neurogenerative issues, such as Alzheimer’s, Parkinson’s and even muscular dystrophy, lymphoblastic leukemia, lung cancer, multiple myeloma and Beta thalassemia, to name a few.
While NTLA doesn’t have the most attractive chart, give it time.
There are some key catalysts just ahead. For one, it expects to present results from its Phase 2 study of NTLA-2002 for treating hereditary angioedema (HAE), a life-threatening rare disorder. It also expects to start Phase 3 trials this year. It’s also on track to dose the first patient in a Phase 1 study of NTLA-3001 for treating alpha-1 antitrypsin deficiency (AATD)-associated lung disease.
On the date of publication, Ian Cooper did not have (either directly or indirectly) any positions in the securities mentioned. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Ian Cooper, a contributor to InvestorPlace.com, has been analyzing stocks and options for web-based advisories since 1999.
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