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Biotech stocks advanced in the week ending May 22, defying the broader market retreat. The defensive nature of the industry and stock-specific moves lent support.
The spread of the monkey pox virus in the U.S. and Europe sparked a rally in companies working on vaccine candidates against viruses. GeoVax Labs, Inc. (NASDAQ:GOVX) was the biggest beneficiary, with its stock more than doubling in the week.
NanoViricides, Inc. (NYSE:NNVC) also advanced strongly following positive clinical updates provided by the company.
On the regulatory front, Sanofi (NASDAQ:SNY)-Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) received the Food and Drug Administration's approval for expanding Dupixent's label to include eosinophilic esophagitis as an indication.
A booster shot of Comirnaty, the COVID vaccine co-developed by Pfizer, Inc. (NYSE:PFE)-BioNTech SE (NASDAQ:BNTX), was authorized by the FDA for use in children in the age group of 5-11 years.
Here are the key catalysts for the unfolding week:
Digestive Disease Week, or DDW, 2022: May 21-24, San Diego, California and virtually
European Society of Cardiology, or ESC, World Congress On Acute Heart Failure: May 21-24, in Madrid, Spain & virtually
BioEquity Europe 2022: May 23-24, 2022 (virtual one-on-one meetings)
The UBS Global Healthcare Conference: May 23-25, in New York
H.C. Wainwright Global Investment Conference 2022: May 23-26, in Miami Beach, Florida & virtually
The FDA is scheduled to rule on Verrica Pharmaceuticals Inc.'s (NASDAQ:VRCA) new drug application for VP-102 as a potential treatment option for molluscum contagiosum and common warts. The PDUFA goal date is set for Tuesday, May 24.
Bristol-Myers Squibb Company's (NYSE:BMY) has a decision date of Saturday, May 28, for Opdivo-Yervoy combination as a first-line treatment option for adults with advanced, metastatic esophageal squamous cell carcinoma.
Related Link: Attention Biotech Investors: Mark Your Calendar For May PDUFA Dates
Windtree Therapeutics, Inc. (NASDAQ:WINT) will present data at the ESC Heart Failure Congress, on the istaroxime Phase 2 study in early cardiogenic shock patients. (Monday)
At the same congress, Cytokinetics, Incorporated (NASDAQ:CYTK) is due to present interim data from the open-label extension study of aficamten in hypertrophic cardiomyopathy patients. (Monday)
At the DDW meeting, CymaBay Therapeutics, Inc. (NASDAQ:CBAY) will present data for seladelpar in patients with primary biiliary cholangitis (Sunday)
Protagonist Therapeutics, Inc. (NASDAQ:PTGX) is scheduled to present at the DDW meeting topline data from the Phase 2 study of PN-943 in ulcerative colitis. (Tuesday)
AbbVie Inc. (NYSE:ABBV) will present at the DDW meeting Phase 3 data for upadacitinib induction therapy in patients with moderately to severely active Crohn's disease who failed prior biologics. (Tuesday)
ReShape Lifesciences Inc. (NASDAQ:RSLS) (Monday, before the market open)
Biocept, Inc. (NASDAQ:BIOC) (likely on Monday)
Medtronic plc (NYSE:MDT) (Thursday, before the market open)
Taro Pharmaceutical Industries Ltd. (NYSE:TARO) (Thursday, after the close)
IPO Quiet Period Expiry
Tenon Medical, Inc. (NASDAQ:TNON)
Belite Bio, Inc (NASDAQ:BLTE)
HilleVax, Inc. (NASDAQ:HLVX)
Related Link: White House To Prioritize Resources To Increase Production Of Baby Formula
Posted In: ABBV BIOC BLTE BMY BNTX CBAY CYTK GOVX HLVX IBB MDT NNVC PFE PTGX REGN RSLS SNY TARO TNON VRCA
