Published on 21 Mar 2023 on Insider Monkey via Yahoo Finance

12 Best Biotech Stocks To Buy Under $20

In this piece, we will take a look at the 12 best biotechnology stocks to buy under $20. For more stocks, head on over to 5 Best Biotech Stocks To Buy Under $20.

The biotechnology industry is one of the hottest sectors right now, particularly in the aftermath of the coronavirus pandemic since it was this industry that developed messenger ribonucleic acid (mRNA) vaccines that put an end to the pandemic. However, biotechnology does not only target viruses in its drug development efforts. While mRNA might have been popularized due to the coronavirus pandemic, the technology which programs the human body to produce certain proteins was initially developed as a cancer treatment.

As a whole, the biotechnology sector relies heavily on technology for progress. This has enabled it to leverage modern day advances in computing to suit its purposes and drug development. For instance, artificial intelligence, which has recently caught the public's eye due to the success of the chatbot ChatGPT, was already being used by drugmakers to sift through vast amounts of data and generate insights such as those that characterize the differences between healthy and cancerous cells. This is part of efforts to reduce the massive costs of drug development which often stand in billions of dollars and require drugmakers to run trial and error experiments as part of the drug discovery process.