As technology advances in our era, biotechnology is not far behind. Modern day medical advancements are impressive, and the company’s making these strides have incredible results to show for it. Let’s take a look at these biotech stocks.
Kiniksa (KNSA)
Kiniksa Pharmaceuticals (NASDAQ:KNSA) is like the superhero of the biotech world. It is creating innovative treatments that work in sync with our immune system to fight various diseases. In the third quarter of 2023, its flagship product, ARCALYST, generated an impressive $64.8 million in revenue.
But that’s not all. Kiniksa also took a giant step forward by closing a global deal with Roche (OTCMKTS:RHHBY) and Genentech to develop and sell vixarelimab, a high-tech antibody. This deal injected Kiniksa with $100 million. If all goes well, it could receive up to $600 million more in milestones and royalties.
Moreover, Kiniksa is not limited to its home territory. It spread its wings into the Asia Pacific region by forming an alliance to bring its treatments to more people in need.
Kiniksa claims that, thanks to these strategic moves and its recent revenues, it has enough financial fuel to keep its operations going until at least 2025.
Neurocrine (NBIX)
Neurocrine Biosciences (NASDAQ:NBIX) stands out as an undiscovered gem. The company is passionately immersed in the neuroscience arena, dedicated to developing innovative solutions for various neurological diseases.
In the third quarter of 2023, it reported remarkable financial results, with net income and earnings per share up year-over-year. This solid growth reflects its continued commitment to research, development and the expansion of its clinical portfolio.
A crucial milestone was the successful resolution of patent litigation related to INGREZZA (valbenazine), a key Neurocrine treatment. This resolution will allow several companies to sell generic versions of INGREZZA in the United States from March 2038.
In addition, at an investor event, Neurocrine shared exciting advances in its R&D pipeline in 2024. The company is planning to submit a New Drug Application (NDA) for crinecerfont and the advancement of NBI-‘770 into Phase 2 for Major Depressive Disorder.
Neurocrine Biosciences presents itself as an attractive option for those seeking undervalued biotech stocks. NBIX offers a solid scientific and financial base, promising an exciting journey in the world of biotechnology.
Incyte (INCY)
Incyte (NASDAQ:INCY) is famous for its pioneering work in immune pathways to combat various diseases. The company has caught the attention of savvy investors as an undervalued gem in the biotech sector.
In the third quarter of 2023, Incyte posted a significant year-on-year increase of 12%, with total revenues of $919 million. Its flagship product, Jakafi (ruxolitinib), posted $636 million in net revenues in the third quarter, up 3% year-on-year.
Opzelura (ruxolitinib) cream also grabbed the spotlight, with a 141% year-on-year increase in net product revenue to $92 million in the third quarter.
Incyte’s product pipeline hit a milestone with the Phase 2 trial of povorcitinib for nodular prurigo. The trial achieved a remarkable response rate of 74% of patients at the 0.3 mg/kg dose in the first six months of treatment. This success sets the stage for the submission of a Biologics License Application (BLA) for axatilimab by 2024.
Its commitment to scientific innovation took center stage at the 2023 65th Annual Meeting of the American Society of Hematology. Sixteen oral presentations, a plenary session and poster presentations showcased the company’s progress. The Plenary Scientific Session featured groundbreaking data from AGAVE-201, which evaluates axatilimab in patients with chronic graft-versus-host disease (GVHD).
To engage stakeholders, Incyte organized a face-to-face event for analysts and investors on December 11, 2023. This event will provide a unique opportunity to delve deeper into key data presentations at the American Society of Hematology Annual Meeting and foster a deeper understanding of Incyte’s promising future.
As of this writing, Gabriel Osorio-Mazzilli did not hold (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 InvestorPlace.com Publishing Guidelines (no position)