The World Health Organization has detected a new coronavirus strain. Omicron is a COVID-19 variant that has been classified as “high risk” by the World Health Organization. Airlines have halted flights from nations where the new strain was discovered for the first time. Pharma stocks such as Pfizer and GlaxoSmithKline have risen sharply. Emerging biotech companies are also developing a vaccination for the new strain. By 2020, biotech companies’ average share prices had risen at twice the rate of the S&P 500. Venture capitalists have already invested $3 billion in biotech companies, an increase of more than 60% year over year. In comparison to 2020, biotech IPO proceeds have increased by 17 percent. The sector will most likely be defined by customer-centric business models and new sorts of alliances.
Here is Insider Monkey’s list of the 10 biotech penny stocks to buy now. Diffusion Pharmaceuticals Inc. is a biopharmaceutical company specializing in the development of innovative medicines to improve oxygen transport throughout the body. Trans sodium crocetinate, a primary therapeutic candidate for the treatment of Interstitial Lung Disease, was recently approved by the FDA. Asensus Surgical, Inc. is a medical equipment firm that specializes in robotics for minimally invasive surgery. The stock has risen sharply in recent days after the company reported third-quarter earnings that beat the market. Histogen Inc. is a biotech company that develops fibroblast cell-based therapeutics. In August, the company revealed that emricasan, a COVID-19 therapy medication, had been shown to be safe and well tolerated. The healthcare industry is served by iBio, Inc., which provides contract development and manufacturing services. Since November 29, when the business stated that IBIO-202, a next-generation vaccine candidate, would be effective against the novel Omicron strain of COVID-19, the stock has risen more than 14 percent. ReWalk Robotics Ltd. is a medical device firm that sells robotic exoskeletons to those who have difficulty moving. After receiving the Breakthrough Device designation on November 5, the company’s stock price increased by more than 50%. For more details, click 10 Biotech Penny Stocks To Buy Now.