All week, Rich has been talking about Inovio Pharmaceuticals Inc. (NASDAQ:INO). From its initial jump of more than 125% to its fall back down 65%, there’s been a lot of news to cover for this one company. But there are other biotech stocks making advances in the COVID-19 vaccine space.
Today, we’re going to look at some of the other companies searching for the cure. These stocks are seeing massive gains in the short-term, but could also go long as the public becomes more aware of their work.
So don’t let market volatility get you down. As Rich says, there’s always a move to make.
Biotech Stocks: Novavax
Novavax Inc. (NASDAQ:NVAX) is a late-stage biotechnology company that develops vaccines for serious infectious diseases. From the start of the year, it’s up 86.86%.
Earlier this week, the company released its Q4 and full-year financial results. Though it recorded a net loss of $31.8 million, or $1.13 per share, NVAX raised its additional net proceeds of $156 million through at-the-market stock offerings. This was a necessary step, as even last December, the company was desperately low on cash.
Novavax also received $4 million from the Coalition for Epidemic Preparedness (CEPI) to develop a vaccine for coronavirus disease COVID-19. It is now in preclinical testing to choose the best candidate to advance to testing in humans. This is scheduled to begin in May or June.
Biotech Stocks: Gilead
Gilead Sciences Inc. (NASDAQ:GILD) is another biotechnology company that researches, develops, and commercializes drugs. It entered the year at $65.23 and has since gained a modest 7.2%.
The company’s drug remdesivir—originally developed to treat Ebola—is right now being tested as a treatment for COVID-19. What’s more, even before the results of the tests have been confirmed, the CDC has already been administering remdesivir to people suffering from the coronavirus.
This is allowed to happen because the FDA permits unapproved drugs to be used in certain “life-threatening” situations when there are no other options.
This firmly plants GILD as a leader in the COVID-19 treatment space, even ahead of INO. While some analysts suspect that the company has already seen the only jump in value it will get from this crisis, others are far more optimistic.
What do you think? Are NVAX, GILD, or INO still the right plays for the coronavirus crash? Are there other biotech stocks that RichTV Live community members should be watching? Let us know!
Stay safe out there!
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