NVS - Is Neoleukin Therapeutics a Buy?
Less than a year ago, Wall Street thought little of Neoleukin Therapeutics (NASDAQ: NLTX). The drug developer was valued at less than $80 million and had yet to advance a pipeline asset into clinical trials. But that has changed.
Shares of Neoleukin Therapeutics erupted in late 2019 and thrust the business to a market valuation of more than $600 million by the first day of July 2020. Analysts have warmed up to the company's pitch for its technology platform, which designs biologic drugs from scratch through a combination of rational design principles and machine learning. Although the small-cap stock has tumbled in the first two weeks of July, investors are eagerly awaiting the start of the pipeline's first clinical trial.
Is Neoleukin Therapeutics a buy ahead of the upcoming milestone?