Photo by Mohamed Nohassi on Unsplash An IntroductionThe major expense of developing new drugs costs about $900 million, on average, per discovery and 13.5 years, on average, to do so the conventional way and has created a huge shortage in drug candidates and programs. That being said, the advent of AI has significantly shortened and cheapened this process by automating that entire process. AI-powered Drug Discovery Growth ProjectionsAccording to the global “AI in drug discovery” market was worth about $1.1 billion last year and is expected to expand by a compound annual growth rate of 30% between now and 2030. That outsized growth is expected to result in approximately 50 novel therapies being brought to market over the next decade, with annual sales in excess of $50 billion by then according to Morgan Stanley.The AI-focused Drug Discovery Stocks Portfolio below tracks the progress of 6 small cap companies focused on the use of AI to discover new drugs. They are listed below in descending order as to their performances last week along with a description of each, and links to the most recent news, analyses and commentary where applicable.
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Company Description:
- Recursion has one of the world’s most extensive biological and chemical datasets and has several compounds in phase 1 and 2 studies, including a small molecule therapeutic for cavernous cerebral malformation and another for neurofibromatosis type 2.
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News, Analysis and Commentary:
- Recursion Pharmaceuticals Stock Could Be a 10-Bagger, but Only if It Comes Through on This Big Claim
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Company Description:
- Schrödinger focuses on structure prediction and protein engineering, including antibody modeling.
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News, Analysis and Commentary:
- Schrödinger First Quarter 2024 Earnings Miss Expectations
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Company Description:
- Exscientia is collaborating with Bristol-Myers Squibb on a handful of drug candidates and has partnered with Sanofi, GSK and PathAI on drug discovery projects.
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News, Analysis and Commentary:
- Can Exscientia Climb +50% to Reach the Level Wall Street Analysts Expect?
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Company Description:
- Relay is developing a platform to detect and characterize interactions that occur on a protein of interest and combines computational methods with experimental approaches across the fields of structural biology, biophysics, and chemistry. Its initial focus is on precision oncology and genetic diseases.
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News, Analysis and Commentary:
- Relay Therapeutics Announces Clinical Trial Collaboration with Pfizer
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Company Description:
- Absci creates new antibodies from scratch antibodies and tests them in a 6-week process.
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News, Analysis and Commentary:
- Absci Reports Business Updates and First Quarter 2024 Financial and Operating Results Financial Results
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Company Description:
- AbCellera searches the immune systems to find potential antibodies and then outsources their findings to their partners for further drug discovery.
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News, Analysis and Commentary:
- Down 11%, Is AbCellera Biologics a Buy on the Dip?
Summary5 of the 6 stocks in the munKNEE AI-powered Drug Discovery Stocks Portfolio were DOWN (-4.1%, on average) last week as were 3 of the 4 stocks in the munKNEE Psychedelic Compound-Based Drug Stocks Portfolio (+ 0.3%, on average) as a result of overall general clinical stage stock weakness. More By This Author:
