In this article, we discuss the 5 unknown biotech stocks that can explode in 2022. If you want to read about some more biotech stocks that can explode in 2022, go directly to 10 Unknown Biotech Stocks That Can Explode in 2022.
5. Outlook Therapeutics, Inc. (NASDAQ:OTLK)
Number of Hedge Fund Holders: 6
Outlook Therapeutics, Inc. (NASDAQ:OTLK) is a biotech firm focusing on the development of monoclonal antibodies for various ophthalmic indications. On June 14, the company announced that it would be re-submitting a biologics license application to authorities in September for ONS-5010, a drug developed by the company for the treatment of wet age-related macular degeneration, a retinal disease. Authorities had asked for further information related to the drug back in late May, forcing Outlook to withdraw an earlier license application.
Outlook Therapeutics, Inc. (NASDAQ:OTLK) has already begun planning for the commercial launch of the drug in 2023. This includes plans for manufacturing, distribution, sales force planning, and payor community engagement.
At the end of the first quarter of 2022, 6 hedge funds in the database of Insider Monkey held stakes worth $3.2 million in Outlook Therapeutics, Inc. (NASDAQ:OTLK), compared to 9 in the previous quarter worth $3.9 million.
Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in Outlook Therapeutics, Inc. (NASDAQ:OTLK) with 729,192 shares worth more than $1.2 million.