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Are Atea Pharmaceuticals, Agenus, Novavax, and Ocular Therapeutix Bad News Buy?

George Budwell, The Motley Fool
·6 min read
Are Atea Pharmaceuticals, Agenus, Novavax, and Ocular Therapeutix Bad News Buy?

Biotech stocks are in a slump. Despite numerous wins in the high-profile areas of COVID-19 and cancer therapy, the industry has failed to excite investors this year -- as seen in the 12% year-to-date fall in the the bellwether SPDR S&P Biotech ETF. Risk-tolerant growth investors appear to be favoring other vehicles over biotech in 2021, such as the red-hot cryptocurrency Shiba Inu (CRYPTO: SHIB), electric-vehicle giant Tesla (NASDAQ: TSLA), and emerging social media plays such as Digital World Acquisition (NASDAQ: DWAC) and Phunware (NASDAQ: PHUN).

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