Biden's Budget May Boost These 3 Biotechs

In President Joe Biden's first proposed budget to Congress, he requested authorization for spending increases in a number of areas. One of the most prominent was healthcare. Specifically, the president proposed a new agency within the National Institutes of Health (NIH) with a directive to cure some of the most pressing diseases of our time, including Alzheimer's disease.

The hope is that targeting resources toward a disease that already affects nearly 6 million Americans would accelerate a cure, much like the government backing of Moderna's vaccine for COVID-19. If the budget is adopted, biotechs like Denali Therapeutics (NASDAQ: DNLI), Cassava Sciences (NASDAQ: SAVA), and Eli Lilly (NYSE: LLY) could find themselves with more resources than ever in a market that is estimated to reach $13 billion by 2028.

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Source Fool.com