There is no denying that the biotech industry can be pretty risky and volatile, but there are also advantages to investing in stocks in this sector. First, there is always a need for innovative therapies, which is what many biotechs are seeking to develop. Second, patients don't get to be too picky about when they need medical treatments -- these are must-have products even amid economic downturns.

These features can allow biotech companies to deliver solid financial results and stock performances for a while, provided they perform the difficult task of developing new treatments. With that in mind, let's look at two biotech stocks that could earn excellent returns through the next decade: CRISPR Therapeutics (NASDAQ: CRSP) and Axsome Therapeutics (NASDAQ: AXSM).

CRISPR Therapeutics is a clinical-stage gene-editing expert. The company's pipeline features exa-cel, its most advanced candidate that is currently being considered for approval, as well as several other programs in earlier stages. Exa-cel, developed together with Vertex Pharmaceuticals, treats sickle cell disease (SCD) and transfusion-dependent beta-thalassemia (TDT), two rare diseases of the blood.

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Source Fool.com