Market Overview

16 Biotech Stocks Moving Off The ASCO Conference

16 Biotech Stocks Moving Off The ASCO Conference

The ASCO (American Society of Clinical Oncology) is hosting its annual meeting, and the healthcare world is watching very attentively. In this event, cancer and cancer-related drug developers share results from some recent drug trials and, to a certain degree, mark the path that will be traversed over the next year.

As expected, many healthcare stocks are reacting to the findings made public in the conference.

Let's Dig In

Bristol-Myers Squibb Co (NYSE: BMY) was one of the most discussed stocks at ASCO. Shares of the biopharmaceutical giant are surging on Monday after plummeting 6 percent on Friday in response to lukewarm results for its immunotherapy drug Opdivo.

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Shares of ImmunoGen, Inc. (NASDAQ: IMGN), meanwhile, are up huge. As the largest gainer in healthcare on Monday, the company’s stock is up more than 72 percent, reacting to a high objective response rate in its Phase 2 trial of mirevtuximab soravtansine.

Another big winner on Monday’s trading is Oncothyreon Inc (USA) (NASDAQ: ONTY), a small-cap clinical-stage biopharmaceutical company focused on the development of cancer drugs. Once again, encouraging data from the company’s ongoing trials (for ONT-380) triggered a surge of more than 21 percent.

Inversely, Clovis Oncology Inc (NASDAQ: CLVS) is among the biggest losers of the day, after the company presented data that a JPMorgan analyst called “so-so” for two cancer drugs, rociletinib and rucaparib.

Back to gainers, CTI BioPharma Corp (NASDAQ: CTIC) also inched nicely on Monday. The company presented one of the most talked-about datasets in the event, for myelofibrosis drug pacritinib, and results were very positive.

Finally, Exelixis, Inc. (NASDAQ: EXEL) is also among the top five gainers of the day, after announcing upbeat results from its two-stage Phase 2 trial for cabozantinib.

Other stocks reacting to the ASCO conference include:

  • Roche Holding Ltd. (ADR) (OTC: RHHBY)
  • AstraZeneca plc (ADR) (NYSE: AZN)
  • Amgen, Inc. (NASDAQ: AMGN)
  • Puma Biotechnology Inc (NYSE: PBYI)
  • Vascular Biogenics Ltd (NASDAQ: VBLT)
  • Immunomedics, Inc. (NASDAQ: IMMU)
  • Momenta Pharmaceuticals, Inc. (NASDAQ: MNTA)
  • Eli Lilly and Co (NYSE: LLY)
  • Juno Therapeutics Inc (NASDAQ: JUNO)
  • Express Scripts Holding Company (NASDAQ: ESRX)

Posted-In: American Society of Clinical Oncology ASCO JPMorganBiotech News Health Care Movers General Best of Benzinga


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