The news of a new variant of the coronavirus Friday sent financial markets into a tailspin. The adversity could present an opportunity for a handful of biopharma stocks, according to a Morgan Stanley analyst.
Gainers
Krystal Biotech, Inc. (NASDAQ: KRYS) shares jumped 116.4% to $86.13 after the company announced positive topline results from the GEM-3 Phase 3 trial of investigational beremagene geperpavec (B-VEC, Vyjuvek) for dystrophic Epidermolysis Bullosa (dystrophic EB).
Following the market opening Monday, the Dow traded up 0.22% to 34,977.01 while the NASDAQ climbed 1.53% to 15,727.94. The S&P also rose, gaining 0.92% to 4,637.03.
Gainers
Petros Pharmaceuticals, Inc. (NASDAQ: PTPI) rose 85.6% to $3.88 in pre-market trading after jumping 14% on Friday. Petros Pharmaceuticals recently said Q3 sales results were down year over year.