A longtime favorite of many retail investors, biotech company Progenity has changed its name to Biora Therapeutics (NASDAQ:BIOR). Today the company has officially begun trading under the name Biora and the symbol BIOR. Additionally, the company will report its first-quarter results today after the market closes.
In conjunction with its name change, Biora is embracing a new strategy. More specifically, the company has decided to “focus on developing its pipeline for targeted and systemic oral delivery of biotherapeutics.”
Also known as biologicals, biotherapeutics “are drug therapy products where the active substance is extracted or produced from a biological source.” The U.S. Food and Drug Administration has approved biotherapeutics including “therapeutic proteins … monoclonal antibodies … and vaccines.”
What to Know About BIOR Stock
Biora is developing “smart pills” that can deliver biologics directly “to the [gastrointestinal] tract.” It’s also looking to enable “systemic, needle-free delivery of biotherapeutics.”
The company has created a capsule that it says “is designed to autonomously identify specific locations in the GI tract and release a therapeutic dose.” Using this method is supposed to create fewer, less-intense side effects, Biora explains.
In a Jan. 3 column, InvestorPlace analyst Louis Navellier wrote that BIOR stock was “cheap and could possibly double or more.” Navellier was upbeat on the company’s decision to focus on its biotherapeutics projects.
On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.