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Supportive government initiatives and robust funding are clearing a path to the industry’s continued growth. And, according to a new report by Grand View Research, Inc., the industry is expected to expand at a 15.83% CAGR over the next seven years.
Given the industry’s strong growth prospects, Wall Street analysts expect biotech stocks Tarsus Pharmaceuticals, Inc. (TARS) and Cidara Therapeutics, Inc. (NASDAQ:CDTX) to more than double in price in the near term.
