The biotech sector gets considerable attention from investors owing to the sort of innovation that is often involved in the sector. Here is a look at four biotech stocks that could be added to watch lists.
Intelligent Bio Solutions Inc. (NASDAQ:INBS) is a medical technology company involved in providing fast, intelligent, and non-invasive testing solutions. The company stated that its Intelligent Fingerprinting Drug Screening System could revolutionize the portable testing by fingerprint sweat analysis space.
Additionally, the system could have more applications in other fields. On August 1, the company announced that within only two months of entering the Australian market, it had secured eight new customers with a combined employee strength of more than 10,000. The efforts put in by the sales force at Intelligent Bio Solutions led to deals with customers across a range of industries.
Some of the industries that signed up for the company’s system were involved in agriculture, manufacturing, mining, aviation, and construction. It not only demonstrated the demand for an alternative drug screening system but also the demand for it in industries in which workplace safety is important.
On June 6, the company announced that it had inked a distribution agreement with Chile-based TSCOM SPA for its Intelligent Fingerprinting Drug Screening System. Additionally, the company went on to note that it had also obtained its first order thanks to the agreement. The order had been placed by an electrical distribution company based in Chile. Pablo Reira, director at TSCOM SPA, noted that initially the company would target government operations, workplaces, and healthcare entities in Chile.
Humacyte Inc. (NASDAQ: HUMA) operates a disruptive biotech platform that aims to provide bioengineered human tissues, advanced tissues, and organ systems that are implantable. The products are meant to improve the lives of patients.
On August 15, the company revealed that the day before it had presented the clinical test results of a humanitarian program in Ukraine that had gone on for a year at MHRS. During the initiative, the investigational product Human Acellular Vessal (HAV) developed by the company was supplied to five hospitals.
The hospitals had been on the frontlines of providing treatment for traumatic vascular injuries that had surfaced in June last year. The war in Ukraine had led to thousands upon thousands of amputations, and it was usually because of the failure to restore blood flow following the injury.
Heron Therapeutics Inc. (NASDAQ:HRTX) The commercial-stage biotech firm is involved in bringing about improvements in the lives of patients through the development of therapeutic innovations that improve medical care. On August 14, the company announced its financial results for the second fiscal quarter ended June 30, 2023.
The company recorded net product sales of $4.5 million in its acute care franchise, which was an improvement on the $2.5 million recorded in the prior-year period. Net product sales for the oncology care franchise and CINVANTI stood at $27.3 million and $24.5 million, respectively.
In the prior-year period, the company recorded $25.1 million and $22.7 million under the same overheads, respectively. SUSTOL's net product sales in the quarter came in at $2.8 million, which reflected a rise from $2.8 million in the corresponding quarter in 2022. The company reiterated its projection for the oncology care franchise's net product sales for the year of $99 million to $103 million.
Halberd Corporation (OTC:HALB) Since it restructured in April 2020, Halberd Corporation has gone from strength to strength, having secured exclusive global rights to three issued patents. Additionally, the company also filed 22 provisional or utility-based applications with the aim of boosting value for shareholders and attracting the interest of development partners.
On August 14, the company announced that mitigation research on its patent-pending nasal spray for traumatic brain injury was progressing at Mississippi State University. It went on to announce that some students had presented a paper on the aforementioned project at the Mississippi State University Shackouls Honors College Summer Undergraduate Research Symposium that was held on August 2. The paper had been titled "Model FOR Therapeutic Development IN Traumatic Brain Injury."
The research project is headed by Dr. Russell Carr of the Mississippi State University College of Veterinary Medicine. The research had been designed to correlate and quantify the biomarkers of traumatic brain injury found in animal models and then measure the mitigation of the effects by Halberd Corporation’s nasal spray.
The research is predicated on the operative assumption that the nasal spray is most effective when it is administered within hours of the traumatic event. The nasal spray is a combination of three active ingredients that not only timely address the injury but also block excessive production of some inflammatory neurotransmitters and cytokines brought about by head trauma.
Ra Medical Systems Inc. (NYSE American:RMED) in conjunction with its fully owned subsidiary Catheter Precision, is involved in offering such solutions to the market that help improve the treatment provided for cardiac arrhythmias.
On August 14, the company announced that it had received notification with regards to the allowance of the first patent that would be issued for its LockeT product. The patent is entitled ‘Vessel Closing Device’ and is part of a collection of six patent applications made by Ra Medical Systems in the United States. Additionally, the company had also applied for patents on the product in the European Community, China, and Japan.
On August 7, the company announced that its lead product in the electrophysiology business unit, VIVO, had been used in excess of 1000 ventricular ablation procedures. VIVO, which is an abbreviation for View Into Ventricular Onset, helps physicians learn more about the specific anatomy of a patient and provide better help for ablation procedures.
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