xi

Two Chinese newcomers make the ranking: TongKun Group at 48 and Hengyi Petrochemical at 50. Both are polyester producers that make their own raw materials. Hengyi also has a large, integrated nylon 6 business. Both companies join similar Chinese firms, like Hengli Petrochemical and Rongsheng Petrochemical. All these companies have been building massive complexes for aromatics and derivatives, in many cases swamping entire segments of the chemical industry—such as purified terephthalic acid—with new capacity that is well beyond the scale of players outside China.

The polyurethane specialist Covestro unveiled a plan late last year to cut up to 1,700 jobs—about 10% of its workforce—by the end of 2023. Most of the cuts will be in Germany. At the same time, the company is resuscitating a plan to build a world-scale methylene diphenyl diisocyanate plant by 2026. While the previous plan pinpointed Texas as the site of the complex, Covestro now says it may build it in either the US or China. The company is also increasing capacity for another polyurethane raw material, toluene diisocyanate, in Dormagen, Germany. And with the biotechnology firm Genomatica, Covestro plans to make biobased hexamethylenediamine, used in the manufacture of polyurethanes and nylon 6,6.

A Rongsheng Petrochemical subsidiary, Zhejiang Petroleum & Chemical, started up the second phase of its massive refining and petrochemical complex in Zhejiang, China, in 2021. With capacity now doubled, the facility can process 40 million metric tons (t) of oil per year. The facility has a large petrochemical output: up to 6.6 million t of aromatics and 1.4 million t of ethylene per year. The expansion allowed the company to start making specialized polymers, such as acrylonitrile-butadiene-styrene and polycarbonate.

xi

In this article, we discuss the 11 biotech stocks popular on Reddit. If you want to skip our detailed analysis of these stocks, go directly to the5 Biotech Stocks Popular On Reddit.

Biotechnology is one of the fields in which Reddit investors take active interest amid an explosive growth potential of the biotech industry. According to Vision Research Reports, the globalbiotechnologyindustry was valued at $752.8 billion in 2020, and it is anticipated to grow at a compound annual growth rate of 17% to $3.44 trillion by 2030.

The stocks on our list were picked based on their popularity on Reddit. We also took into account the fundamentals and prospects for growth of these stocks based on key business characteristics.

We start our list of the 11 biotech stocks popular on Reddit with Seattle-based biotechnology firm Nautilus Biotechnology, Inc. (NASDAQ: NAUT). The biotech company was founded in 2016 and studies human proteomes for biomedical research and drug discovery.

On August 3, Goldman Sachs analyst Matthew Sykes initiated coverage of Nautilus Biotechnology with a Neutral rating and a $10 price target, noting that the company"s proteomics technology as a potential driver for the company"s growth in the biotech sector. On August 5, shares of Nautilus Biotechnology, Inc. (NASDAQ: NAUT) soared 50% after Amazon.com, Inc. (NASDAQ: AMZN) reported a $14.7 million position in the company in a recent SEC Form 13Ffiling.

The company has a market cap of $449 million. In the second quarter of 2021, Nautilus Biotechnology, Inc. (NASDAQ: NAUT) reported an EPS of -$0.19. At the end of the second quarter, the company has $142.5 million in cash and cash equivalents.

New York-based clinical-stage biopharmaceutical company Anavex Life Sciences Corp. (NASDAQ: AVXL) ranks 10th on the list of 11 biotech stocks popular on Reddit. The company develops neurodegenerative treatments for Parkinson"s disease, Alzheimer"s, and Rett syndrome.

Ocugen, Inc. (NASDAQ: OCGN) is a clinical-stage biopharmaceutical firm based in Pennsylvania that ranks 9th on the list of 11 biotech stocks popular on Reddit. The company develops gene therapy to restore age- and diabetes-related vision loss. Ocugen, Inc. (NASDAQ: OCGN) also co-developed the COVID-19 vaccine COVAXIN with Bharat Biotech. Ocugen, Inc. (NASDAQ: OCGN) recently joined the Russell 2000 and Russell 3000 indexes in June 2021.

Atossa Therapeutics, Inc. (NASDAQ: ATOS) ranks 8th on the list of 11 biotech stocks popular on Reddit. The Seattle-based clinical-stage biopharma firm develops ovarian and breast cancer oral drug Endoxifen. The company is also developing COVID-19 nasal spray and drugs to enhance lung function and cut down on the number of patients relying on ventilators. Atossa Therapeutics, Inc. (NASDAQ: ATOS) recently joined the Russell 2000 and Russell 3000 indices.

Bionano Genomics, Inc. (NASDAQ: BNGO) ranks 7th on the list of 11 biotech stocks popular on Reddit. The company sells a genomic analysis device called the Saphyr system globally. The biotech company was founded in 2003 and was formerly known as BioNano Genomics, Inc.

Humanigen, Inc. (NASDAQ: HGEN) is a California-based clinical-stage biopharmaceutical company that ranks 6th on the list of 11 biotech stocks popular on Reddit. The company develops human antibody therapeutics.

xi

Being a leading manufacturer of natural ingredients and nutrition supplements in China, HSF focuses on the R&D, production, and marketing of Natural Vitamin E and Phytosterol, Ferulic acid and Gamma Oryzanol throughout the worldwide market, with its headquarter located in the city of Xi"an, Shaanxi province, southwest China.