More than 70 drug-treatment candidates are in different stages as the pharmaceutical industry tries to find one that will increase coronavirus survival rates. The White House hopes they are able to have one or two by the end of the year.
But Action Alerts PLUS Charitable Trust portfolio manager Jim Cramer says that only a handful of companies will be able to produce viable drugs.
"I checked in with them before I went on this call, and they're feeling very good. We're talking about a July (2021) time frame. That would be terrific because I think it would make it so that we fear dying less, which is the real issue," Cramer said.
"I do have faith that there's going to be a cocktail of monoclonal antibodies from [Regeneron] and [Gilead's (GILD) - Get Gilead Sciences Inc. Report] remdesivir, and that's going to make it so that when you get into the hospital, it's not a death sentence."
Cramer is less bullish on certain other candidates, specifically from Inovio (INO) - Get Inovio Pharmaceuticals Inc. Report, Novavax (NVAX,) - Get Novavax Inc. Report and Moderna (MRNA) - Get Moderna Inc. Report. Part of the reason for his skepticism is the quick timetable that trio is touting for the development of a drug.
"I am very skeptical of Inovio, Novavax, and Moderna," he said.
"I think that they feel that they can get this thing all done by year-end, and I think they're living on thin reeds. And if you own them, I would say ring the register on half of Moderna and half on Novavax and half on INO and let the rest run."