Elevation Oncology, Inc. - Common stock (ELEV)

Lately, several exceptionally innovative companies have gained prominence for their outstanding achievements. This feature will delve into four such companies.

EQNX::TICKER_START (NASDAQONCY),(TSX:ONC),NASDAQ:AMGNNASDAQAMGN)(NASDAQ:AMAMNASDAQAMAM,(NASDAQ:ELEVNASDAQ),(NASDAQ:NKTXNKTX) EQNX::TICKER_END

Shares of ELEV have risen 428% YTD. Will the stock continue to perform with a critical upcoming catalyst on the horizon?

Elevation Oncology Inc (NASDAQELEV) is one of today’s top gainers. The company’s shares are currently up 62.46% on the day to $4.89.

PALM BEACH, Fla., Jan. 09, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - According to the report titled "Aging in the United States," published by the Population Reference Bureau, "the number of Americans aged 65 and older is projected to increase more than double over 95 million by the year 2060, and it is expected to rise to approximately 23 percent from 16 percent. Cancer is a non-treatable chronic disease that has posed a challenge to the medical fraternity for decades. The fatal nature of the disease, coupled with the low rate of success for treatments, has compelled medical practitioners to deploy new research methodologies. The entire medical research fraternity has prioritized cancer research in order to find new ways of treatment and analysis. According to Nova one advisor, the global Oncology Cancer Drugs market was valued at USD 147.2 billion in 2021 and it is expected to hit around USD 289.2 billion by 2030 with a CAGR of 8.4% during the forecast period 2022 to 2030. The report said: “Cancer drugs are utilized the treatment of pancreatic cancer, breast cancer, ovarian cancer, gastric cancer, kidney cancer, brain tumors, and other cancers through chemotherapy, surgery, and radiotherapy.”   Active biotech and pharma companies in the markets this week include Oncolytics Biotech® Inc. (NASDAQONCY) (TSX: ONC), Amgen NASDAQ: AMGNNASDAQAMGN)(NASDAQ: AMAMNASDAQAMAM, Elevation Oncology, Inc. (NASDAQ: ELEVNASDAQ), Nkarta, Inc. (NASDAQ: NKTXNKTX).

Five biotechs have already issued layoffs in 2023. Many seem to have good potential, but time will tell if the shifts create the value analysts anticipate.