12 Best Medical Stocks To Buy Under $20

7. Centessa Pharmaceuticals Plc (NASDAQ:CNTA)

Share Price as of January 8: $16.10

Number of Hedge Fund Holders: 34

Centessa Pharmaceuticals Plc (NASDAQ:CNTA) is a clinical-stage pharmaceutical company that focuses on discovering and developing innovative medicines for patients. The company aims to develop potential first-in-class and best-in-class therapies, particularly in the fields of rare diseases and immuno-oncology.

The company is focused on rare diseases and has promising drug candidates. Centessa Pharmaceuticals Plc (NASDAQ:CNTA) is making significant strides with its lead candidate, ORX750, an orally administered orexin receptor 2 (OX2R) agonist designed to treat conditions like narcolepsy type 1 (NT1), narcolepsy type 2 (NT2), and idiopathic hypersomnia (IH). Recent data from ongoing Phase 1 trials indicate that ORX750 has strong potential as a best-in-class treatment for these sleep disorders. Centessa Pharmaceuticals Plc (NASDAQ:CNTA) has initiated a Phase 2a study for ORX750 and expects results in 2025. In addition to ORX750, Centessa Pharmaceuticals Plc (NASDAQ:CNTA) is advancing other OX2R agonists and has recently nominated ORX489 as a new candidate for development. This strategic focus on multiple compounds within the OX2R agonist franchise is aimed at addressing a range of neurological and psychiatric disorders.

Financially, the company reported cash, cash equivalents, and short-term investments totaling $518.4 million as of September 30, 2024. This strong cash position is expected to fund operations into mid-2027, providing for continued development of the company’s promising pipeline.