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Between late-stage readouts and regulatory events, the biotech industry has enough second-half catalysts to potentially actualize Cantor Fitzgerald’s investment theses and justify its price targets, according to the firm’s recent note.
The most imminent is Versartis Inc (NASDAQ:VSAR)’s September release of phase 3 data from its somavaratan study, which compares the drug against Pfizer Inc. (NYSE:PFE)’s Genotropin in patients with pediatric hormone growth deficiency. Cantor Fitzgerald considers it “achievable” for Versartis to prove non-inferiority, and it projects a 70-percent probability of somavaratan reaching commercialization.
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The second catalyst will be bluebird bio Inc (NASDAQ:BLUE)’s December release of initial results from its modified LentiGlobin drug. Cantor Fitzgerald isn’t hopeful for positive outcomes, noting a 15 percent probability of success for the sickle cell treatment.
Related Link: August PDUFA Dates: Biotech Investors Stay Tuned To A Month Of Plenty
At another undetermined date, regulatory advisory committees are expected to meet to discuss the biologics license application for Spark Therapeutics Inc (NASDAQ:ONCE)’s Luxturna and new drug application for Aerie Pharmaceuticals Inc (NASDAQ:AERI)’s Rhopressa.
The effects of these will be further compounded by clinical data reports from Abeona Therapeutics Inc (NASDAQ:ABEO), Bellicum Pharmaceuticals Inc (NASDAQ:BLCM), Corbus Pharmaceutical Holdings Inc (NASDAQ:CRBP), Global Blood Therapeutics Inc (NASDAQ:GBT), Spark Therapeutics Inc, Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) and Zynerba Pharmaceuticals Inc (NASDAQ:ZYNE).
The aggregate performances of these players thus far led to a strong first-half for the biotech sector. By the date of publication, iShares NASDAQ Biotechnology Index (ETF) (NASDAQ:IBB) was up 16.5 percent on the year against SPDR S&P 500 ETF Trust (NYSEARCA: SPY)’s 9.4 percent.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.