The biotech industry is expected to balloon to a massive $727B in the next five years. And along the way, we’ll also see new IPOs, technology etc … When an industry grows with that kind of speed, those who invest in the right stocks will make an awful lot of money.
Biotech stocks have continued to be market-leading targets for investors through the coronavirus stock market crash and rebound. Progressive Care, Inc. (OTC: RXMD), Moderna, Inc. (NASDAQ: MRNA) and Gilead Sciences (NASDAQ: GILD) are getting a lot of attention now.
Innovation in the healthcare technology field is an expanding field, with very promising possibilities. This is because current and future technologies can be applied in the daily lives of clinics, offices and hospitals, improving the quality of patient care. As in other sectors, companies that bet on innovation in health have an advantage in an increasingly competitive market.
Adoption of advanced technology and development in production are expected to play a vital role in the growth of the healthcare industry. By comparing patient data to biological recognition materials, biosensors and trackers analyze health conditions, helping to detect diseases.
The COVID-19 pandemic is rapidly changing the business needs of a traditional medical practice. Social distancing and video conferences are becoming the new normal. Looming uncertainty regarding healthcare is hanging over our society and the need for medical technology is clear. As times change, the medical industry is searching for reliable, digital solutions to provide quality care to patients, while generating additional necessary revenue for medical practices.
Many medical practices are exploring telehealth technologies to keep their practices afloat during this crisis. COVID-19 has dramatically changed brick and mortar businesses, including restaurants, retail stores, and entertainment venues.
Progressive Care, Inc.
Progressive Care, Inc. is an emerging, publicly traded company (OTC: RXMD), focused on healthcare services and technology.
The company, through its subsidiaries provide:
- pharmaceutical prescriptions
- compounded medications
- tele-pharmacy services
- sale of anti-retroviral medications
- medication therapy management (MTM)
- supply of prescription medications to long-term care facilities, and health practice risk management
The Company is also now in advanced discussions regarding the hiring of a new Chief Executive Officer with the experience and skill set to take Progressive Care to the next level. The Company is focused on installing a CEO able to drive financial strength, cultivate constructive communication with the business and investment community, and reinforce core values, with the ultimate goals of uplisting to a major exchange and taking the Company to over $100 million in sales.
“We expect revenues of more than $40 million in 2020 at this point, given our growth rate and what we have accomplished so far this year,” noted Alan Jay Weisberg, interim CEO and Chairman of the Board at Progressive Care. “Several years ago, when our revenue was $15 million, we saw our path to $40 million in sales and described this to our shareholders. Now, we are running at over $40 million on the top line and see a path to $100 million and beyond as a basic extrapolation of our organic growth curve paired with our strategic agenda, which provides for an open run to serve all 50 states in prescriptions and data management, capitalize on strong deregulatory tailwinds. We are deep in the process of establishing this new leadership, and we have strong reason to believe we will have an exceptional executive team in place, with the experience, skills, and drive to foster that next step, very soon.”
As announced in its release dated September 8, Progressive Care is in the process of acquiring MyApps, a leading commercial-stage app developer that has full control over CallingDr, a complete telehealth platform providing multiple levels of service with a suite of products currently in use in single-physician clinics, multi-physician clinics, emergency room centers, nursing homes, and home health setups across multiple US states. While working towards the completion of the acquisition, Progressive Care will be taking necessary regulatory steps to participate in the prescription drug business in all 50 US states (the Company is currently licensed in 14 US states) on a mail-order basis. In-house Company research suggests that nearly one-third of all prescriptions in the US are filled on a mail-order basis, suggesting that this transition will increase Progressive Care’s total addressable market by over $200 billion (based on Company data along with data from the US Department of Health and Human Services).
According to information from MyApps management, MyApps serviced 3,448 new patients over the six months between March 1 and September 1, 2020, with some having multiple sessions, amounting to over 10,500 remote healthcare sessions in the past six months.
Along with CallingDr™, MyApps also has a portal named FindingDr™, which helps providers connect with new patients. Following the closing of the acquisition, Progressive Care will be able to offer healthcare providers across the country and in its network of business with access to this portal to connect them with new patients.
Moderna, Inc., (NASDAQ: MRNA) a clinical stage biotechnology company, develops therapeutics and vaccines based on messenger RNA for the treatment of infectious diseases, immuno-oncology, rare diseases, and autoimmune and cardiovascular diseases. As of February 14, 2020, the company had 12 programs in clinical trials and a total of 24 development candidates in six modalities comprising prophylactic vaccines, cancer vaccines, intratumoral immuno-oncology, localized regenerative therapeutics, systemic secreted and cell surface therapeutics, and systemic intracellular therapeutics. It has strategic alliances with AstraZeneca, Merck & Co., Vertex Pharmaceuticals, Biomedical Advanced Research and Development Authority, Defense Advanced Research Projects Agency, and Bill & Melinda Gates Foundation, as well as the Coalition for Epidemic Preparedness Innovations. The company was formerly known as Moderna Therapeutics, Inc. and changed its name to Moderna, Inc. in August 2018. Moderna, Inc. was founded in 2010 and is headquartered in Cambridge, Massachusetts.
Gilead Sciences, Inc., (NASDAQ: GILD) a research-based biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical needs in the United States, Europe, and internationally. The company’s products include Biktarvy, Descovy, Odefsey, Genvoya, Stribild, Complera/Eviplera, Atripla, and Truvada for the treatment of human immunodeficiency virus (HIV) infection; and Vosevi, Vemlidy, Epclusa, Harvoni, and Viread products for treating liver diseases. It also provides Yescarta, a chimeric antigen receptor T cell therapy for adult patients with relapsed or refractory large B-cell lymphoma; Zydelig, a kinase inhibitor; Letairis, an oral formulation of an endothelin receptor antagonist for pulmonary arterial hypertension; Ranexa, a tablet to treat chronic angina; and AmBisome, an antifungal agent to treat serious invasive fungal infections. In addition, the company offers its products under the name Cayston, Emtriva, Hepsera, Sovaldi, and Tybost. Further, it develops product candidates for the treatment of viral diseases, inflammatory and fibrotic diseases, and oncology. The company markets its products through its commercial teams; and in conjunction with third-party distributors and corporate partners. Gilead Sciences, Inc. has collaboration agreements with Bristol-Myers Squibb Company; Janssen Sciences Ireland UC; Japan Tobacco Inc.; Galapagos NV; Second Genome; Gadeta; Carna Biosciences Inc.; Nurix Therapeutics, Inc.; Humanigen, Inc.; Kiniksa Pharmaceuticals, Ltd.; Kyverna Therapeutics, Inc.; Glympse Bio, Inc.; Renown Institute for Health Innovation; Goldfinch Bio, Inc.; Insitro, Inc.; Novo Nordisk A/S; and Yuhan Corporation. The company was founded in 1987 and is headquartered in Foster City, California.