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The Week Ahead In Biotech: Johnson & Johnson Kickstarts Big Pharma Earnings

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The Week Ahead In Biotech: Johnson & Johnson Kickstarts Big Pharma Earnings

Last week was a quiet one for the biotech space with the exception of a few clinical trial readouts.

Pharma and biotech stocks took comfort in a ruling by a federal judge that went against President Donald Trump's initiative that would require drug companies to reveal the sticker price of their drugs in TV ads.

The following are some key catalysts for the biotech stocks in the unfolding week.

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Conferences

  • 28th European Diabetes Congress: July 17-18 in Edinburgh, Scotland
  • 23rd Annual American Association of Cancer Research, or AACR, Workshop on Molecular Biology in Clinical Oncology: July 20-27 in Snowmass Village, Colorado

PDUFA Dates

The FDA is set to issue its verdict on Merck & Co., Inc. (NYSE: MRK)'s NDA for a combination of relebactam with imipenem/cilastatin in treating complicated urinary tract infections and complicated intra-abdominal infections. The PDUFA date is set for Tuesday, July 16.

Clinical Trial Readouts

TapImmune Inc. (NASDAQ: MRKR) will present Phase 1/2 data for its pancreatic cancer immunotherapy multi TAA-specific T cells at the AACR workshop on Saturday, July 20.

Earnings

Tuesday, July 16

  • Johnson & Johnson (NYSE: JNJ) (before the market open)
  • Seattle Genetics, Inc. (NASDAQ: SGEN) (after the market close)

Wednesday, July 17

  • Abbott Laboratories (NYSE: ABT) (before the market open)

Thursday, July 18

  • Intuitive Surgical, Inc. (NASDAQ: ISRG) (after the market close)

IPOs

Mirum Pharmaceuticals, which develops therapies for rare cholestatic liver diseases, will offer 5 million shares priced between $14 and $16. The company seeks to list the shares on the Nasdaq under the ticker symbol "MIRM."

Fulcrum Therapeutics proposes to offer 4.5 million shares in an IPO, with the estimated price in the range of $16-$18. The company seeks to list its shares on the Nasdaq under the ticker symbol "FULC."

Danish biotech GENMAB A/S/S ADR (OTC: GMXAY) has filed to offer 27.8 million ADSs, representing 2.78 million of its ordinary shares. The company has applied to list the ADS on the Nasdaq under the ticker symbol "GMAB."

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