The first half of the year is over. And good riddance. The S&P 500 experienced its worst first half in more than 50 years. Most investors saw the values of their holdings plunge. 

But the stock market won't remain in the doldrums forever. Here are three growth stocks that could make you richer in the second half of 2022.

1. Novocure

Novocure (NVCR 6.14%) has lost more than two-thirds of its market cap over the past 12 months. The biotech stock fell 23% in the first half of this year as the overall market sank.

The story could soon change for Novocure, though. Over the next six months, the company plans to announce results from three clinical studies evaluating its Tumor Treating Fields (TTField) therapy. The most important of these is a late-stage study targeting non-small cell lung cancer (NSCLC). 

There's a good reason to expect positive results from the NSCLC study. In April 2021, the study's independent data monitoring committee recommended accelerating the study and said it was "likely unnecessary and possibly unethical" to continue enrolling patients in the control arm. That appeared to be a strong hint that the TTFields therapy is effective in treating NSCLC.

Novocure also is on track to report data from two other late-stage studies in 2023 and one in 2024. The company estimates that the total addressable market represented by all four of the late-stage indications with results on the way is 14 times larger than its current market. 

2. Axsome Therapeutics

Only a few days ago, Axsome Therapeutics (AXSM 1.28%) stock was down more than 50% year to date. However, its shares skyrocketed last week after the company revealed that the U.S. Food and Drug Administration (FDA) has proposed labeling for experimental drug AXS-05 in treating major depressive disorder (MDD).

This is an important step toward Axsome potentially winning FDA approval for AXS-05 in the MDD indication. Axsome is also evaluating the drug in a late-stage study for treating Alzheimer's disease agitation. Analysts think the drug could generate peak sales of more than $1 billion if approved.

Axsome is also working with the FDA to resolve chemistry, manufacturing, and controls issues with its regulatory submission for approval of AXS-07 in treating migraine. The company believes the issues are addressable and anticipates "an expeditious resubmission" of the New Drug Application. 

In addition, Axsome is acquiring sleep-disorder drug Sunosi from Jazz Pharmaceuticals. Sales for the drug more than doubled in 2021 to $57.9 million.

All of this potentially good news makes Axsome's current market cap of around $1.5 billion look very cheap. This stock appears to have a good chance of delivering strong gains in the second half of 2022.

3. Cresco Labs

The past year has been a dismal one for most marijuana stocks. You can definitely include Cresco Labs (CRLBF -1.16%) in the group. Its shares have plunged nearly 80% over the last 12 months and almost 70% so far this year.

However, Cresco looks to be one of the most attractive cannabis stocks around. Its shares trade at only 0.85 times trailing-12-month sales. The company's revenue jumped 20% year over year in the first quarter of 2022. Revenue growth should soon accelerate thanks to Cresco's pending acquisition of Columbia Care.

This transaction is expected to close in the fourth quarter of this year. It will make Cresco the largest multi-state operator in the U.S. cannabis industry with pro forma annual revenue of over $1.4 billion. 

Cresco still probably needs some easing of industrywide headwinds to rebound significantly in the second half of 2022. But even if that doesn't happen, the stock should be well-positioned to deliver excellent long-term returns.