Biotech stocks retreated in the week ending April 14, lock-stepping with the broader market. The news flow was light during the holiday-shortened week and ahead of the imminent first-quarter reporting season.
Lyra Therapeutics, Inc. LYRA was among the biggest gainers of the week following the completion of a $100.5 million private placement. Sierra Oncology, Inc. SRRA also advanced strongly after it announced a deal to be acquired by GlaxoSmithKline plc GSK for $1.9 billion.
Meanwhile, Kaleido Biosciences, Inc. KLDO plunged after disclosing in a filing that it is shuttering operations. The microbiome therapeutic-focused biopharma was facing a cash crunch and clinical setbacks.
Regeneron Pharmaceuticals, Inc.'s REGN communicated the Food and Drug Administration's decision to delay granting full approval of its antibody cocktail REGEN-COV as a prophylactic treatment for COVID-19.
Here are the key catalysts that could impact trading in biotech stocks in the unfolding week:
2022 American Society of Cataract and Refractive Surgery, or ASCRS, Annual Meeting: April 23-26, in Washington, D.C.
2022 Tandem Meetings – Transplantation & Cellular Therapy Meetings Of American Society for Transplantation and Cellular Therapy, or ASTCT, and Center for International Blood and Marrow Transplant Research, or CIBMTR: April 23-26, in Salt Lake City, Utah
FDA's Oncologic Drugs Advisory Committee is scheduled to meet on Friday, April 22 to discuss TG Therapeutics, Inc.'s TGTX sNDA for Ukoniq (umbralisib) tablets, and BLA for ublituximab injection. The proposed indication for these two products is in combination for the treatment of adult patients with chronic lymphocytic leukemia or small lymphocytic lymphoma.
The committee will also discuss the existing umbralisib indications in patients with relapsed or refractory follicular lymphoma and marginal zone lymphoma approved under accelerated approval regulations.
ASCRS Meeting Presentation(s)
Ocular Therapeutix, Inc. OCUL: Phase 2 data for OTX-DED, an intracanalicular dexamethasone Insert, for the treatment of episodic dry eye disease (Saturday, 3:30-3:35 pm ET)
Johnson & Johnson JNJ (Tuesday, before the market open)
Abbott Laboratories ABT (Wednesday, before the market open)
Plus Therapeutics, Inc. PSTV (Thursday, after the close)
Intuitive Surgical, Inc. ISRG (Thursday, after the close)
IPO Quiet Period Expiry
AN2 Therapeutics, Inc. ANTX
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