Biotech stocks ready for more Covid-19 results in first quarter

Potential approval of an Alzheimer’s medicine, new gene therapy data and more late-stage clinical trial results for Covid-19 vaccines will keep momentum up for biotech stocks in the next three months.

Photo: Issei Kato/REUTERS / X90003

The benchmark Nasdaq Biotech Index has climbed 26% this year, compared with a 15% gain in the S&P 500 Index, pointing to no let-up in market-moving drug trial data even during the pandemic.

While the index hit a bump this week amid worries of delays in distribution of the two U.S.-approved inoculations, investors are on the lookout as a second group of vaccine developers race to test shots, including those from Novavax, Johnson & Johnson and partners Glaxosmithkline and Sanofi.

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