Currently, Enzolytics, Inc. (OTC:ENZC) is going through a remarkable rally with gains of 300% since mid-April. Considering such a development, here are a few more biotech stocks to add to your watchlist.
Ra Medical Systems (NYSE:RMED) – and its wholly owned subsidiary Catheter Precision, is an innovative U.S.- based medical device company bringing transformational solutions to market to improve the treatment of cardiac arrhythmias. At the core of their innovation lies VIVO, the company’s flagship technology.
VIVO boasts an impressive 99.5% pre-mapping accuracy in detecting ventricular dysrhythmias, a crucial aspect of the treatment process. Furthermore, its implementation has led to significant reductions in procedure times, ranging from seventy-five to eighty-four percent in the electrophysiology lab.
On May 9, the company said that its subsidiary Catheter Precision had completed the enrollment of 125 subjects onto its European observational registry. The related study would continue the enrollment of more subjects over the coming days and the company expects the enrolment to be concluded by June 30, 2023. The entirety of the data results would be available in the fourth quarter of 2024, but the interim would be made available before that.
Spectrum Pharmaceuticals Inc (NASDAQ:SPPI) – The stock has been gaining momentum with a gain of over 100% in a month. It is a commercial-stage biopharmaceutical firm and is focused on the acquisition, development, and commercialization of targeted and novel oncology-related therapies.
The company recently announced its financial results for the fiscal quarter that ended on March 31, 2023. The net sales for the quarter came in at $15.6 million which reflected a sequential rise of 54% from the fourth quarter of 2022. 172 targeted accounts bought the ROLVEDON injection as opposed to only 70 in the previous quarter.
Halberd Corporation (OTC:HALB) – a development-stage biotechnology company, which engages in the development of treatments for infectious diseases. Currently, the company has four (4) issued biotech patents and 22 pending patents for provisional or utility biotechnology applications.
On May 9, the company announced that its researchers at its collaboration partner Mississippi State University (MSU) School of Veterinary Medicine had received the approval for its test protocol, in pursuit of the nasal spray is meant to stop the creation of excess inflammatory cytokines that come about from head trauma.
The study being conducted by the company in collaboration with Mississippi State University would be focussed on figuring out the effectiveness of the nasal spray when trying to tackle multiple antigens related to head trauma and other neurodegenerative conditions like Alzheimer’s Disease, epilepsy, and PTSD among others.
Vaxart Inc (NASDAQ:VXRT) – Clinical stage biotech firm Vaxart Inc is involved in the development of several oral recombinant vaccines based on its proprietary delivery platform. The company’s vaccines are produced in the form of pills and could be shipped without the necessity for refrigeration.
On May 5, the company reported its financial results for the first quarter of 2023. The net loss in the quarter was $25.1 million, which was the same as the net loss in the prior-year quarter. Revenues soared to $675,000 compared to $85,000 in the prior-year quarter.
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