10 Cheap Biotech Stocks to Invest in Now

5. Entrada Therapeutics, Inc. (NASDAQ:TRDA)

P/E Ratio: 9.72 

Entrada Therapeutics, Inc. (NASDAQ:TRDA) is a clinical-stage biopharmaceutical company developing Endosomal Escape Vehicle (EEV) therapeutics to deliver drugs like oligonucleotides and antibodies directly into cells, targeting diseases once deemed untreatable. The company stands fifth among the cheap biotech stocks to buy now. It is focused on neuromuscular, immunology, oncology, and central nervous system disorders, and collaborates with partners like Vertex Pharmaceuticals for revenue. Its innovative EEV platform aims to treat rare genetic conditions such as Duchenne muscular dystrophy (DMD) and myotonic dystrophy type 1 (DM1) by overcoming challenges in intracellular drug delivery.

Entrada Therapeutics, Inc. (NASDAQ:TRDA) reported strong Q3 2024 financial results, with a cash position of $449.3 million, up from $352.0 million at the end of 2023. Despite a drop in collaboration revenue to $19.6 million from $43.7 million, R&D and G&A expenses rose to $31.3 million and $10.0 million, respectively. The company posted a net loss of $14.0 million compared to a net income of $35.5 million in Q3 2023. The increase in cash was driven by a $100 million direct offering and a $75 million milestone payment from Vertex Pharmaceuticals, extending its cash runway into 2027.

The corporation offers investment potential due to its innovative EEV platform, which aims to revolutionize intracellular drug delivery for untreatable diseases. Entrada Therapeutics, Inc. (NASDAQ:TRDA)’s pipeline features promising candidates for Duchenne muscular dystrophy (DMD), including ENTR-601-44 and ENTR-601-45, moving toward Phase 2 trials.