Stocks to buy

3 Biotech Stocks That Could Turn $1,000 into $10,000 by 2024 

Developing groundbreaking drugs and devices entails high costs, uncertain regulatory approval, and lucrative revenues. Those factors and more culminate to create a sector filled with dozens of biotech stocks that have 10X potential, or better. While those returns are very tempting, investors often need to be patient to secure them.

Developing drugs and medical devices requires time. And those drugs and devices, once developed, must pass rigorous FDA approval processes.

However, those that pass from one stage to the next often create instant returns. Positive news surrounding the efficacy of a drug, or how a trial is progressing, can do the same. If commercialization occurs, the returns for investors can be staggering.

Indeed, there are plenty of ways to win. Encouragingly, the biotech stocks below all have 10x potential by 2024, based on current target prices.

PAVM PAVmed $0.41
ALZN Alzamend Neuro $0.53
BIOR Biora Therapeutics $3.97


Source: Image

PAVmed (NASDAQ:PAVM) is among the more differentiated biotech stocks, relative to its peers. Biotech stocks in the penny stock category tend to develop high-potential pharmaceuticals for rare diseases with unmet needs. However, PAVmed is developing a medical device and a testing platform for esophageal cancer and precancer screening.

PAVmed’s current product portfolio consists of EsoCheck and EsoGuard. EsoCheck is a balloon device that is inflated in the esophagus and collects cells for testing. EsoGuard is a test that the company has developed for detecting Barrett’s esophagus, an abnormal change in the cells of the esophagus.

The company performed 1,841 EsoGuard tests in the first quarter, up 57% sequentially and 245% on a year-over-year basis. The company gets all of its current revenue from those tests which amounted to $446,000 in Q1. What’s really compelling about PAVmed is that Barrett’s Esophagus leads to esophageal adenocarcinoma, which is growing faster than any other cancer in the U.S. and has a survival rate lower than 20% over a 5-year period.

Alzamend Neuro (ALZN)


Alzamend Neuro (NASDAQ:ALZN) is addressing the need for treatments targeting Alzheimer’s and other psychiatric disorders. It is doing so by leveraging patented intellectual property commercially, while also developing other treatments.

Its pipeline includes two therapeutic drug candidates. The company’s first is AL001, which is an ionic cocrystal technology delivering lithium as lithium, proline and salicylate. Its other drug, ALZN002, is a patented methodology that is being studied for its efficacy in restoring the ability of a patient’s immunological system to combat Alzheimer’s.

Both drug candidates are being applied to the treatment of Alzheimer’s. AL001 recently completed Phase IIA clinical trials without adverse results. The company also recently commenced Phase I/IIA trials of ALZN002 in the treatment of mild to moderate Alzheimer’s.

Alzamend is chasing regulatory hurdles in the hope that it can soon produce revenues in some form. As it currently stands, the company continues to lose money while making none. In Q1, those losses reached $5.4 million. Alzamend’s cash position stood at $7.4 million at that time. However, the company expects to receive $14.8 million in cash from a note receivable with a maturity date of Dec. 31.

The company is clearly walking a fine line in terms of its operations, but that’s what gives it such strong upside.

Biora Therapeutics (BIOR)

Source: Gorodenkoff /

Last on this list of biotech stocks to buy isn’t really a pure-play biotech stock at all. Rather, Biora Therapeutics (NASDAQ:BIOR) is all about the targeted delivery of therapeutics. The company is developing a targeted capsule for delivering therapeutics into the large intestine and another for delivery of therapeutics into the small intestine.

The delivery platforms are essentially smart capsules branded as NaviCap and BioJet, respectively. These platforms are being studied for efficacy in ulcerative colitis, autoimmune disease, and diabetes. Targeted delivery could increase tissue concentration of therapeutics in ulcerative colitis, and could also replace injectable therapeutics used in the treatment of diabetes and autoimmune disease.

Things are moving according to plan at Biora Therapeutics, in that no adverse events have occurred. The company posted a net loss of $17.4 million in the first quarter along with a cash balance of $30.5 million.

Interestingly, its BioJet platform is being studied in conjunction with Semiglutide and Adalimumab. Those are generic names for two hugely-successful brand-name drugs, providing investors in BIOR stock with massive upside potential over the long-term.

Penny Stocks

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Read More: Penny Stocks — How to Profit Without Getting Scammed

On the date of publication, Alex Sirois did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the Publishing Guidelines.

Alex Sirois is a freelance contributor to InvestorPlace whose personal stock investing style is focused on long-term, buy-and-hold, wealth-building stock picks.Having worked in several industries from e-commerce to translation to education and utilizing his MBA from George Washington University, he brings a diverse set of skills through which he filters his writing.