Some of the most explosive opportunities can be found in biotech stocks.
Look at CRISPR Therapeutics (NASDAQ:CRSP), for example. Leading up to U.S. FDA rulings, the stock exploded from a low of about $37.50 to a high of $75. Granted, it did pull back on a sell-the-news reaction. However, if you caught the CRSP trade in time, you had the chance to double your money in just weeks. The best part — many more opportunities exist just like this one. Here are three biotech stocks that could potentially pop up heading into the new year.
Structure Therapeutics (GPCR)
The last time I mentioned Structure Therapeutics (NASDAQ:GPCR), it traded around $50 on Nov. 29. Today it’s up to $61.87, and could push aggressively higher on two key catalysts.
For one, it’s expected to release Phase 2a trial results of its diabetes treatment this month. The company is also expected to release Phase 2a results for obesity in the first half of the new year. Positive news from both could easily send the GPCR stock screaming higher.
Even better, according to Raymond Stevens, Ph.D., founder and CEO of Structure, “Our recent Phase 1b data support the potential of GSBR-1290 as a promising, differentiated oral GLP-1 receptor agonist with once-daily dosing. …we believe we are well positioned to advance and accelerate the development of GSBR-1290 as well as our entire oral incretin franchise.”
Anixa Biosciences (ANIX)
Another one of the interesting biotech stocks to consider is Anixa Biosciences (NASDAQ:ANIX), which specializes in immunotherapy treatments for breast and ovarian cancers. Granted, the stock already ran from about $2.80 to $4.48, but it could see further, aggressive upside from here.
Helping, ANIX and the Cleveland Clinic just announced positive results from a Phase 1 clinical trial of its breast cancer vaccine. In a “Phase I Trial of alpha-lactalbumin vaccine in high-risk operable triple-negative breast cancer (TNBC) and patients at high genetic risk for TNBC” presentation, the company said results exceeded expectations.
“This vaccine is designed to direct the immune system to destroy TNBC cancer cells through a mechanism that has never previously been utilized for cancer vaccine development,” added Chairman and CEO Dr. Amit Kumar.
Checkpoint Therapeutics (CKPT)
Checkpoint Therapeutics (NASDAQ:CKPT) has also been explosive, running from about $1.80 to $3.25 in recent weeks. However, it could push even higher as we near its U.S. FDA Prescription Drug User Fee Act (PDUFA) date of Jan. 3, 2024. That’s when the FDA is expected to rule on cosibelimab for the treatment of cutaneous squamous cell carcinoma.
According to a recent company press release, pivotal trial results for cosibelimab in metastatic cutaneous squamous cell carcinoma were published in the peer-reviewed Journal for ImmunoTherapy of Cancer, further supporting the efficacy and safety of the drug.
Recent earnings haven’t been too shabby either. In its third quarter, the company posted an EPS loss of 29 cents, beating expectations by 56 cents.
On the date of publication, Ian Cooper did not hold (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.
