Laser Focus World is an industry bedrock—first published in 1965 and still going strong. We publish original articles about cutting-edge advances in lasers, optics, photonics, sensors, and quantum technologies, as well as test and measurement, and the shift currently underway to usher in the photonic integrated circuits, optical interconnects, and copackaged electronics and photonics to deliver the speed and efficiency essential for data centers of the future.

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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

3 Biotech Stocks to Watch: Iovance, Neurocrine & Viking

Futuristic laboratory, doctor or scientist holding glass tube, molecular and DNA structure, genetic research human biology and pharmaceutical technology, medical,science,development biological system — Photo

With the notable exceptions of Novo Nordisk A/S (NYSE: NVO) and Eli Lilly & Co. (NYSE: LLY), biotechnology stocks had a rough time attracting investment capital in 2024. Small- and mid-cap biotech stocks struggled to raise capital in a higher-for-longer interest rate environment.

Even large-cap drug companies were impacted as the U.S. Food & Drug Administration (FDA) took a more measured approach to drug approvals, including in breakthrough areas such as gene therapy. The sector is also starting to digest the impact of the Inflation Reduction Act on drug pricing provisions.

GLP-1 drugs have been the exception. But investors who missed the strong growth of NVO and LLY are starting to look at new opportunities in 2025. The macroeconomic driver is likely to come from lower interest rates, making raising capital easier.

The biotech industry is using tools such as artificial intelligence (AI) to deliver efficiencies for shareholders. Companies are increasingly using AI and machine learning to hasten drug development, opening new possibilities in areas like precision medicine.

Biotechnology stocks are always a study in risk-reward.

But if you have an appetite for some risk, here are three names that could shoot higher based on clinical trial results.

Iovance Builds on TIL Therapy Breakthrough With New Trials

Iovance Biotherapeutics Inc. (NASDAQ: IOVA) received FDA approval for Amtagvi, its tumor-infiltrating lymphocyte (TIL) therapy for solid tumors. This is the first FDA-approved TIL therapy, and it’s moved the company beyond the clinical stage to a solid revenue producer.

Those revenue gains, however, are not reflected in IOVA stock, which remains a penny stock and is down 75.8% in 2025. Slower-than-expected sales of Amtagvi are raising concerns over cash burn. As of March 2025, the company had $422 million in cash, which it says will be sufficient into the second half of 2026. That’s based on its anticipated full-year cash burn of $300 million.  

Despite the FDA's approval of Amtagvi, another reason IOVA stock has declined in 2025 is a gap in near-term clinical catalysts. The company has other therapies in clinical trials, but there are concerns that TIL therapy may be overshadowed by CAR-T and PD-1 therapies.

All of that means the risk premium on IOVA stock is likely to remain in place. However, Iovance may have asymmetric upside. Analysts give the stock a consensus price target of $12.22. That’s a 588% gain. Plus, that’s the opinion of 12 analysts, which is rare for a stock of this size.

Neurocrine Biosciences Could See Revenue Increase by Over 30%

Investors wanting biotech options with less risk may want to consider Neurocrine Biosciences Inc. (NASDAQ: NBIX). The company is already profitable from its flagship Ingrezza therapy, projecting revenue between $2.5 billion and $2.6 billion in 2025.

Neurocrine also received approval for Crenessity for congenital adrenal hyperplasia (CAH) in late 2024. This could give the company a significant revenue boost. Many analysts believe that peak U.S. sales for Crenessity could reach $800 million to $1 billion.

The risk is that Ingrezza will not meet its current revenue targets, which are already lower than analysts expected. The company also faces a difficult regulatory landscape after the passage of the Inflation Reduction Act.

Crenessity also faces a complex reimbursement outlook. But the larger issue, for now, may be the drug's black box warning. This means it will require careful supervision, which may limit its initial market.

Still, this is about managing risk and reward. A total of 22 analysts give NBIX stock a consensus price target of $162 which is a 27% increase. NBIX is also showing healthy growth with an increase of over 9% in its stock price since April 2025.

Viking Sets Sights on Obesity Market With GLP-1 Rival

Viking Therapeutics Inc. (NASDAQ: VKTX) stock is down 33% as investors wait for Phase 2 results for its GLP-1 candidate (VK2735). The company has also completed Phase 2 enrollment for an oral version of VK2735.

Investor interest is high based on the success of the current GLP-1 drugs. However, the stock faces pressure on two fronts. The first comes from short sellers. Short interest of 26.71 million shares, representing 25.15% of the float. In the absence of a catalyst, the company’s growth is limited.

The second battle is with Eli Lilly, which is also in the race for an oral GLP-1 candidate. Lilly is expected to get their candidate on the market first. However, Viking has teased that VK2735 may offer up to 78 weeks of durable weight loss, giving it a potential competitive edge. That would match or exceed the performance of Wegovy or Zepbound. These claims reference benchmark durations seen in rival trials, not current VKTX data.

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