5 Biotech Stocks With Highly Anticipated Pending Results
Biotech M&A is heating up, making small-cap firms with breakthrough assets top acquisition targets and potential big winners for investors.

The biotech sector remains one of the most dynamic areas of the market, driven by clinical breakthroughs, regulatory decisions, and disruptive innovations. Over the years, large pharmaceutical companies have been aggressively acquiring small, innovative biotech firms to strengthen their pipelines, address upcoming patent cliffs, and gain first-mover advantage in high-growth therapeutic areas.
This wave of consolidation creates a powerful opportunity for investors, small biotech stocks with promising assets and upcoming catalysts not only offer upside from clinical progress, but also from being bought out at a premium. Several recent acquisitions highlight this trend:
- Novartis (NYSE: NVS) acquired Regulus Therapeutics for up to $1.7 billion to expand its RNA-targeted therapy pipeline, specifically targeting kidney diseases with Regulus’s lead asset, RGLS8429.
- Merck KGaA (OTC: MKKGY) purchased SpringWorks Therapeutics in a $3.9 billion deal, gaining access to Ogsiveo (nirogacestat) and a rare tumor pipeline that fits into Merck’s long-term oncology growth plans.
- AstraZeneca (NASDAQ: AZN) acquired EsoBiotec for up to $1 billion, betting on their in vivo CAR-T platform that simplifies cancer treatment delivery through IV-administered genetic instructions.
- Sun Pharmaceuticals acquired Checkpoint Therapeutics for $355 million, adding Unloxcyt (cosibelimab-ipdl) to their oncology and dermatology arsenal.
- Johnson & Johnson (NYSE: JNJ) bought Intra-Cellular Therapies for $14.6 billion, gaining Caplyta for mental health indications and a robust neuropsychiatry pipeline.
- Eli Lilly (NYSE: LLY) acquired STX-478 from Scorpion Therapeutics for $2.5 billion, strengthening its position in targeted cancer therapies.
As this trend continues, investors should closely monitor small-cap biotech firms with de-risked pipelines, breakthrough platforms, or upcoming catalysts. These companies represent not just the future of medicine, but potentially the next billion-dollar buyout. Here are five such biotech stocks with highly anticipated results that could make them standout acquisition targets in the coming months.
1. Shuttle Pharmaceuticals (SHPH)
Shuttle Pharmaceuticals (NASDAQ: SHPH) is a clinical-stage pharmaceutical company developing next-generation drugs and diagnostic tools to enhance cancer treatment, particularly by sensitizing tumors to radiation therapy.
Focus
Ropidoxuridine (IPdR) is Shuttle Pharmaceuticals’ lead candidate, an orally available halogenated pyrimidine and thymidine analogue prodrug designed as a radiation sensitizer.
It is intended to be used in combination with radiation therapy (RT) to treat aggressive cancers, primarily glioblastoma (GBM), a deadly brain tumor with poor prognosis and limited treatment options.
Ropidoxuridine is converted in the body to idoxuridine (IUdR), which incorporates into the DNA of rapidly dividing cancer cells, making them more sensitive to radiation-induced DNA damage.
Pending Results
Shuttle Pharmaceuticals is currently conducting a Phase 2 clinical trial of ropidoxuridine (IPdR) in patients with newly diagnosed glioblastoma, specifically IDH wild-type, MGMT promoter unmethylated GBM, a subgroup with poor survival rates.
- Enrollment is nearing 50% for the initial randomized phase (23 of 40 expected patients enrolled), with an additional 17 to follow later.
- The company’s goal is to finalize enrollment by the end of 2025, after which patients will be followed for efficacy and safety.
- Final data read‑out is anticipated in 2026.
The Phase 2 trial is designed to assess safety, optimal dosing (960 mg/day and 1200 mg/day cohorts), and efficacy in combination with standard radiation therapy.
The FDA has granted Orphan Drug Designation for ropidoxuridine in glioblastoma, providing potential marketing exclusivity upon approval.
Earlier Phase 1b data demonstrated partial responses and stable disease in patients treated with ropidoxuridine plus radiation. Typically, drug developers are just looking for safety data in phase 1, but to see partial efficacy results is something that is very positive. The full clinical trial can be reviewed here: SHPH Phase 2 Trial.
Why It Matters
Approximately 800,000 patients in the U.S. receive radiation therapy annually, with over 400,000 treated with curative intent.
Glioblastoma remains a fatal disease with a median survival of under 15 months despite current standard care.
There is a significant unmet need for effective radiation sensitizers to improve cure rates and survival.
Ropidoxuridine’s oral administration and improved toxicity profile compared to direct IUdR administration offer clinical advantages.
2. Tango Therapeutics (TNGX)
Tango Therapeutics (NASDAQ: TNGX) is a clinical-stage biotechnology company developing targeted cancer therapies using synthetic lethality. The company focuses on identifying novel drug targets and advancing precision oncology treatments.
Focus
Tango Therapeutics’ pipeline includes novel agents designed for genetically defined patient populations, with a particular emphasis on TNG456, a brain-penetrant, MTA-cooperative PRMT5 inhibitor, which is a difficult-to-treat cancer.
Pending Results
The most highly anticipated upcoming clinical milestone for Tango Therapeutics is the ongoing Phase I/II trial of TNG456, a brain-penetrant, MTA-cooperative PRMT5 inhibitor. This trial targets patients with methylthioadenosine phosphorylase (MTAP)-deleted solid tumors, with a primary focus on glioblastoma (GBM). The study is structured in two parts:
Phase I: Dose escalation of TNG456 as a standalone therapy and in combination with abemaciclib, focusing on safety, pharmacokinetics, and early signs of anti-tumor activity in GBM.
Phase II: Expansion into six arms based on tumor types, enrolling patients at recommended Phase II doses, both as monotherapy and in combination.
The first patient was dosed in May 2025, and the trial is currently enrolling participants in the dose escalation phase for GBM. The results from this study are highly anticipated due to the urgent need for new treatments in MTAP-deleted GBM, a subset representing about 45% of all GBM cases and associated with poor prognosis.
Why It Matters
TNG456 is designed to selectively inhibit PRMT5 in MTAP-deleted tumors, potentially offering a more effective and less toxic treatment by sparing normal cells. Preclinical data suggest the drug achieves sufficient brain exposure and selectivity for meaningful efficacy in GBM.
The company is also advancing other programs, such as TNG348, a USP1 inhibitor, but the TNG456 trial in MTAP-deleted GBM is currently the most closely watched catalyst.
3. Ocugen (OCGN)
Ocugen (NASDAQ: OCGN) is a clinical-stage biopharmaceutical company focused on developing gene therapies to treat blindness diseases and vaccines for infectious diseases.
Focus
The company’s core platform is its modifier gene therapy technology, which aims to provide one-time, durable treatments for a range of inherited and acquired retinal diseases. Ocugen’s pipeline includes OCU410ST for Stargardt disease and OCU410 for geographic atrophy (GA) secondary to dry age-related macular degeneration (dAMD).
Pending Results
OCU410ST (Stargardt Disease): Ocugen plans to initiate a Phase 2/3 pivotal confirmatory trial by mid-2025. The Phase 1 data showed a 54% slower lesion growth and statistically significant improvement in visual function in treated eyes. The company is targeting a BLA filing in 2027.
OCU410 (Geographic Atrophy/dAMD): Dosing is complete in the Phase 2 ArMaDa trial, with Phase 3 trials planned for 2026 and potential BLA/MAA filings by 2028. Phase 1/2 data demonstrated a 44% slower lesion growth at nine months and a clinically meaningful two-line improvement in visual function, with a favorable safety profile.
Why It Matters
One-Time, Durable Therapy: Unlike existing treatments that require ongoing administration, Ocugen’s gene therapies are designed for single administration, potentially providing lasting benefit and reducing treatment burden.
Regulatory Momentum: All three gene therapy candidates have received Advanced Therapy Medicinal Product (ATMP) classification from the European Medicines Agency, potentially accelerating regulatory review. The company has also reached alignment with the FDA on pivotal trial designs, de-risking the path to approval.
4. Atyr Pharma (ATYR)
Atyr Pharma (NASDAQ: ATYR) is a biotechnology company engaged in developing novel protein-based therapeutics.
Focus
The company’s primary focus is on inflammation and fibrotic diseases, especially those affecting the lungs. It is developing first-in-class medicines derived from its proprietary tRNA synthetase platform. Its lead candidate, efzofitimod, is an immunomodulator targeting neuropilin-2 (NRP2) to modulate immune responses without broad immune suppression.
Pending Results
Efzofitimod (Pulmonary Sarcoidosis, Phase 3): The global pivotal Phase 3 EFZO-FIT trial in pulmonary sarcoidosis is ongoing, with topline data expected in the third quarter of 2025. Positive Phase 1b/2a data showed significant reduction in corticosteroid use and relapse rates, highlighting its potential as a non-immunosuppressive alternative.
Efzofitimod (SSc-ILD, Phase 2): The Phase 2 EFZO-CONNECT study is progressing, with interim data anticipated in the second quarter of 2025. This study targets a life-threatening fibrotic lung disease with limited treatment options.
Why It Matters
Unmet Medical Needs: Pulmonary sarcoidosis and SSc-ILD are serious diseases with limited effective treatments. Current therapies often involve immunosuppression with significant side effects. Efzofitimod’s selective immune modulation offers a novel, safer approach.
Potential to Transform Treatment: Efzofitimod has shown promise in reducing corticosteroid dependence and improving clinical outcomes in pulmonary sarcoidosis. If Phase 3 and Phase 2 data confirm these benefits, it could become a new standard of care.
Regulatory and Market Outlook: Positive Phase 3 data expected in late 2025 could catalyze regulatory filings and commercialization. The market for sarcoidosis and fibrotic lung diseases is significant and growing, driven by unmet needs and aging populations.
5. ATAI Life Sciences (ATAI)
ATAI Life Sciences (NASDAQ: ATAI) is a biopharmaceutical company aiming to transform mental health treatment. It operates a decentralized platform model to develop psychedelic and non-psychedelic compounds for psychiatric disorders.
Focus
ATAI Life Sciences’ pipeline targets treatment-resistant depression (TRD), schizophrenia-related cognitive impairment, opioid use disorder (OUD), generalized anxiety disorder, and mild traumatic brain injury, among others. Key Therapeutic Candidates include BPL-003 Psychedelic compound (5-MeO-DMT), and RL-007, a modulator targeting cognitive impairment in schizophrenia (Phase 2b).
Pending Results
BPL-003 Phase 2b Trial: Topline data expected mid-2025 from the largest controlled trial of mebufotenin (5-MeO-DMT) in treatment-resistant depression, showing promising safety, tolerability, and efficacy signals in patients on SSRIs.
RL-007 Phase 2b: Ongoing trial for cognitive impairment in schizophrenia, with data expected in 2025.
Corporate Milestone: The strategic combination with Beckley Psytech is expected to close in the second half of 2025, creating a global leader in psychedelic mental health therapies with a synergistic pipeline and enhanced development capabilities.
Why It Matters
Addressing Unmet Needs: ATAI targets mental health disorders where current treatments are often inadequate, such as treatment-resistant depression and cognitive impairment in schizophrenia.
Innovative Psychedelic Therapies: The company is developing rapid-acting, potentially transformative psychedelic-based medicines with novel routes of administration (e.g., buccal films, oral formulations) designed for scalability and integration into healthcare systems.
Conclusion
As the biotech sector advances in 2025, these five companies stand at the forefront of innovation, each targeting areas of high unmet medical need with promising clinical-stage programs. Among them, Shuttle Pharmaceuticals (NASDAQ: SHPH) is especially noteworthy. With its lead candidate, ropidoxuridine, the company is pursuing a highly differentiated approach to one of the most lethal brain cancers—glioblastoma.
Ropidoxuridine represents a promising approach to improve outcomes in glioblastoma by enhancing the effectiveness of radiation therapy through DNA sensitization. Its ongoing Phase 2 trial and regulatory designations highlight its potential as a novel adjunct treatment for this challenging cancer.
Moreover, the compound’s oral administration, favorable toxicity profile, and Orphan Drug Designation by the FDA position SHPH as a strong contender for long-term value creation in the oncology space. As enrollment progresses and final data readout approaches, SHPH could become a key player in transforming glioblastoma therapy—and a standout biotech stock to watch in 2025 and beyond.
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