10 Best Biotech Stocks Under $6 in 2021
The global biotechnology sector is expected to grow to more than $2.5 trillion by the end of this decade. The growth in the industry is expected to be driven by innovation, research, and new scientific discoveries. There is plenty of reason to be hopeful about the future of biotechnology, one of the core ones being the performance of the sector in 2020, a year ravaged by the worst pandemic in more than hundred years that took the lives of millions across the world. Even through the grim twelve months, the biotech sector exceeded market expectations.
In 2020, even as most biotech firms dedicated a large part of the year to finding a cure for the coronavirus, there were 53 new medicines approved by the US drug agency. This was the second-highest number of medicines approved in a single year. Some of the notable mentions in the new medicine list include Danyelza, a drug for pediatric neuroblastoma, developed by Y-mAbs Therapeutics, Inc. (NASDAQ: YMAB), and Trodelvy, a treatment for triple negative breast cancer, developed by Gilead Sciences, Inc. (NASDAQ: GILD).