Now is a great time to start accumulating top biotech stocks.
The biotech boom is red-hot. And there are no signs of it cooling off. After all, we can’t stop people from aging – at least, not yet. We can’t stop people from seeking treatments for a myriad of issues.
Plus, according to Grand View Research, the global biotech industry could be worth up to $2.44 trillion by 2028. Even better, I’ve got my eye on a few top biotech stocks that have big upside catalysts.
Viking Therapeutics (VKTX)
Look at Viking Therapeutics (NASDAQ:VKTX), for example.
This top biotech stock has been rocketing higher on the obesity story thanks to its VK2735 treatment.
Working much like Eli Lilly’s Mounjaro, it also triggers a feeling of fullness in the body after eating, which then leads to weight loss. Better, it’s nearing Phase 2 trials. All after Phase 1 found that patients treated with VK2735 lost 6% in mean body weight, as compared to a placebo.
Even better, it may have a competitive advantage over other obesity drug stocks. In fact, it just launched a Phase 1 study to evaluate a new oral formulation of VK2735. The company believes that offering an injectable and an oral could give it a massive leg up.
Eli Lilly (LLY)
Eli Lilly (NYSE:LLY) may be a $425 stock, but that may be cheap.
Especially if it gets the green light from the FDA for its obesity treatment. Right now, we know the top biotech stock is seeking approval from the FDA for people who are overweight, but don’t have diabetes.
The best part is that study results have been solid. So far, patients taking Eli Lilly’s tirzepatide lost up to 34 pounds on average, or 16% of their body weight, according to the company.
With new data in hand, the company is pushing for US Fast Track approval, which could potentially lead to a green light later this year. If approved, Eli Lilly could move well above $425 a share by early next year.
Cue Biopharma (CUE)
Cue Biopharma (NASDAQ:CUE) is a clinical-stage biopharmaceutical company that’s trying to bring a new class of immunotherapies to those impacted by cancer.
In fact, according to the company, only a small fraction of patients – about 15% to 20% — will respond to current treatments. To reach a higher population of patients, Cue is working on injectable biologic drugs that are designed to selectively engage and modulate disease-specific T cells.
Most recently, the company received FDA acceptance of its Investigational New Drug (IND) application for CUE-102 in Wilms’ Tumor 1 (WT1)-expressing cancers and initiated dosing in a Phase 1 dose escalation monotherapy trial at 1mg/kg.
It was also granted Fast Track Designation for CUE-101 for the treatment of HPV+ recurrent/metastatic head and neck squamous cell carcinoma (R/M HNSCC) as a monotherapy and in combination with pembrolizumab.
On the date of publication, Ian Cooper did not have (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.