The biotech market was valued at $497 billion in 2020, and it is expected to reach $952.0 billion in 2027. Over the following five years, the market is predicted to increase at a CAGR of more than 9.4%. Biotechnology has experienced rapid expansion as chronic diseases have become more common. As the demand for organic food grows, so does the demand for biotech in the agriculture sector. After a meteoric rise in 2020, biotech stocks plummeted by 25% in 2021.
Insider Monkey picked biotech penny stocks with growth catalysts. Diffusion Pharmaceuticals Inc. is a biotechnology company that develops drugs and therapies to improve the body’s oxygen delivery. The company reported having $37.3 million in cash and cash equivalents as of December 31, 2021. On March 28, Alzamend Neuro, Inc. released the findings of its AL001 trial. AL001 is an oral lithium delivery device for people with dementia who have cognitive impairment associated with Alzheimer’s disease. Cocrystal Pharma, Inc. is a biotechnology business that focuses on antiviral medication research and development. Bothell, Washington is the company’s headquarters. The antiviral will be a big growth boost for the company once it hits the market. ObsEva SA is based in Geneva, Switzerland, and was created in 2012. In 2022, the business expects to meet its primary clinical and regulatory goals, according to the company. Linzagolix, a specific hormone antagonist, is being developed to treat uterine fibroids. Pluristem Therapeutics Inc. is a biotechnology firm established in Israel that focuses on the development and research of cell therapeutics. Tnuva, Israel’s largest food producer, has also announced a collaboration with the company to develop cultured food. For more details, click 10 Biotech Penny Stocks With Growth Catalysts.