We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
3 Cancer-Focused Biotechs That Appear Promising Bets for 2024
Read MoreHide Full Article
Oncology treatments have been at the forefront this year, with biotech companies looking to capitalize on advancements in technology in this challenging but lucrative space. This has put the spotlight on companies with a solid portfolio of cancer treatments and/or a promising pipeline.
While decades of research and advanced treatments have prolonged the lives of cancer patients in the last 20 years, a possible cure remains elusive. As the world at large continues to grapple with a significant increase in the number of cancer patients, the market for cancer medicines is expected to grow concurrently.
The biotech sector experienced a choppy ride in 2023 amid a challenging environment. Nevertheless, an increase in mergers & acquisition activity boosted investor sentiment in the last couple of months. The recent spate of acquisitions has put the spotlight on oncology-focused companies.
Bristol Myers (BMY - Free Report) is set to acquire oncology-focused company Mirati Therapeutics for a total equity value of $5.8 billion and add an approved drug for lung cancer to its portfolio. AbbVie recently announced that it will acquire ImmunoGen, which is developing the next generation of antibody-drug conjugates (ADC) to improve outcomes for cancer patients. The acquisition will add ImmunoGen’s flagship cancer therapy, Elahere, a first-in-class ADC approved for platinum-resistant ovarian cancer. Eli Lilly (LLY - Free Report) is set to buy POINT Biopharma, a maker of next-generation radioligand therapies for treating cancers, for approximately $1.4 billion in cash.
The evolving pharma landscape ensures that emerging biotechs with promising oncology treatments in their pipeline using novel mechanisms of action will continue to be the target of pharma/biotech bigwigs.
Here, we discuss three oncology-focused biotech stocks, which have a solid portfolio/promising pipeline. These are BeiGene, Ltd. (BGNE - Free Report) , Tango Therapeutics, Inc. (TNGX - Free Report) and Allogene Therapeutics, Inc. (ALLO - Free Report) .
Our Picks
BeiGene’s Brukinsa is witnessing rapid uptake across all approved indications, including chronic lymphocytic leukemia. Sales of the drug were strong in the first nine months of 2023. The company is working to expand the drug’s label. The Committee for Health and Medicinal Products of the European Medicines Agency gave a positive opinion for Brukinsa for the treatment of adult patients with relapsed or refractory follicular lymphoma who have received at least two prior systematic treatments.
BeiGene also regained global rights to the development, manufacture and commercialization of Tevimbra, strengthening its global portfolio in solid tumors. The FDA accepted for review the company’s biologics license application for tislelizumab as a first-line treatment for patients with unresectable, recurrent, locally advanced, or metastatic esophageal squamous-cell carcinoma with a target action date in July 2024.
Loss estimates for 2024 have narrowed by 27.2% over the past 60 days.
Image Source: Zacks Investment Research
Tango Therapeutics is a clinical-stage biotechnology company committed to discovering and delivering the next generation of precision cancer medicines. The company addresses the specific genetic alterations that fuel cancer. Its lead program, TNG908, is a methylthioadenosine (MTA)-cooperative inhibitor of protein arginine methyltransferase 5 (PRMT5) designed to work selectively in cancer cells with a methylthioadenosine phosphorylase (MTAP) deletion. TNG908 demonstrated 15-fold greater potency in MTAP-deleted cancer cells versus normal cells and robust efficacy in vitro and in vivo in preclinical studies. A phase I/II study is ongoing.
The company has also developed a next-generation PRMT5 inhibitor, TNG462, with increased potency, MTAP-deletion selectivity as well as longer target coverage. The company is evaluating its safety and efficacy in multiple tumor types in a phase I/II study. Its other candidates include TNG260 and TNG348.
TNGX currently carries a Zacks Rank #2. Loss estimates for 2024 have narrowed by 17 cents over the past 60 days.
Allogene is focused on developing allogenic CAR T therapies for treating cancer, especially hematologic indications with high unmet needs. The company has six pipeline candidates in the early stage of development, including five CAR T cell product candidates — ALLO-501, ALLO-501A, ALLO-605, ALLO-316 and ALLO-715 — and a monoclonal antibody (mAB), ALLO-647. The company’s most advanced product candidates are ALLO-501 and ALLO-501A, which have been designed to target the CD19 protein that is expressed on the cell surface of B-cells. ALLO-501 is being evaluated in a phase I ALPHA study for r/r non-Hodgkin lymphoma (NHL) subtypes.
A second-generation version of ALLO-501, ALLO-501A, is also being developed for NHL in the phase I/II ALPHA2 study. ALLO-316, the company’s first CAR T candidate for solid tumors, is being evaluated in the phase I TRAVERSE study in adults with advanced or metastatic renal cell carcinoma.
ALLO currently carries a Zacks Rank #2. Loss estimates for 2024 have narrowed by 23 cents over the past 60 days.
Unique Zacks Analysis of Your Chosen Ticker
Pick one free report - opportunity may be withdrawn at any time
Image: Bigstock
3 Cancer-Focused Biotechs That Appear Promising Bets for 2024
Oncology treatments have been at the forefront this year, with biotech companies looking to capitalize on advancements in technology in this challenging but lucrative space. This has put the spotlight on companies with a solid portfolio of cancer treatments and/or a promising pipeline.
While decades of research and advanced treatments have prolonged the lives of cancer patients in the last 20 years, a possible cure remains elusive. As the world at large continues to grapple with a significant increase in the number of cancer patients, the market for cancer medicines is expected to grow concurrently.
The biotech sector experienced a choppy ride in 2023 amid a challenging environment. Nevertheless, an increase in mergers & acquisition activity boosted investor sentiment in the last couple of months. The recent spate of acquisitions has put the spotlight on oncology-focused companies.
Bristol Myers (BMY - Free Report) is set to acquire oncology-focused company Mirati Therapeutics for a total equity value of $5.8 billion and add an approved drug for lung cancer to its portfolio. AbbVie recently announced that it will acquire ImmunoGen, which is developing the next generation of antibody-drug conjugates (ADC) to improve outcomes for cancer patients. The acquisition will add ImmunoGen’s flagship cancer therapy, Elahere, a first-in-class ADC approved for platinum-resistant ovarian cancer. Eli Lilly (LLY - Free Report) is set to buy POINT Biopharma, a maker of next-generation radioligand therapies for treating cancers, for approximately $1.4 billion in cash.
The evolving pharma landscape ensures that emerging biotechs with promising oncology treatments in their pipeline using novel mechanisms of action will continue to be the target of pharma/biotech bigwigs.
Here, we discuss three oncology-focused biotech stocks, which have a solid portfolio/promising pipeline. These are BeiGene, Ltd. (BGNE - Free Report) , Tango Therapeutics, Inc. (TNGX - Free Report) and Allogene Therapeutics, Inc. (ALLO - Free Report) .
Our Picks
BeiGene’s Brukinsa is witnessing rapid uptake across all approved indications, including chronic lymphocytic leukemia. Sales of the drug were strong in the first nine months of 2023. The company is working to expand the drug’s label. The Committee for Health and Medicinal Products of the European Medicines Agency gave a positive opinion for Brukinsa for the treatment of adult patients with relapsed or refractory follicular lymphoma who have received at least two prior systematic treatments.
BeiGene also regained global rights to the development, manufacture and commercialization of Tevimbra, strengthening its global portfolio in solid tumors. The FDA accepted for review the company’s biologics license application for tislelizumab as a first-line treatment for patients with unresectable, recurrent, locally advanced, or metastatic esophageal squamous-cell carcinoma with a target action date in July 2024.
BGNE currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Loss estimates for 2024 have narrowed by 27.2% over the past 60 days.
Image Source: Zacks Investment Research
Tango Therapeutics is a clinical-stage biotechnology company committed to discovering and delivering the next generation of precision cancer medicines. The company addresses the specific genetic alterations that fuel cancer. Its lead program, TNG908, is a methylthioadenosine (MTA)-cooperative inhibitor of protein arginine methyltransferase 5 (PRMT5) designed to work selectively in cancer cells with a methylthioadenosine phosphorylase (MTAP) deletion. TNG908 demonstrated 15-fold greater potency in MTAP-deleted cancer cells versus normal cells and robust efficacy in vitro and in vivo in preclinical studies. A phase I/II study is ongoing.
The company has also developed a next-generation PRMT5 inhibitor, TNG462, with increased potency, MTAP-deletion selectivity as well as longer target coverage. The company is evaluating its safety and efficacy in multiple tumor types in a phase I/II study. Its other candidates include TNG260 and TNG348.
TNGX currently carries a Zacks Rank #2. Loss estimates for 2024 have narrowed by 17 cents over the past 60 days.
Allogene is focused on developing allogenic CAR T therapies for treating cancer, especially hematologic indications with high unmet needs. The company has six pipeline candidates in the early stage of development, including five CAR T cell product candidates — ALLO-501, ALLO-501A, ALLO-605, ALLO-316 and ALLO-715 — and a monoclonal antibody (mAB), ALLO-647. The company’s most advanced product candidates are ALLO-501 and ALLO-501A, which have been designed to target the CD19 protein that is expressed on the cell surface of B-cells. ALLO-501 is being evaluated in a phase I ALPHA study for r/r non-Hodgkin lymphoma (NHL) subtypes.
A second-generation version of ALLO-501, ALLO-501A, is also being developed for NHL in the phase I/II ALPHA2 study. ALLO-316, the company’s first CAR T candidate for solid tumors, is being evaluated in the phase I TRAVERSE study in adults with advanced or metastatic renal cell carcinoma.
ALLO currently carries a Zacks Rank #2. Loss estimates for 2024 have narrowed by 23 cents over the past 60 days.