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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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