The Week Ahead In Biotech (May 8-14): Bausch Health Headlines Smid-Cap Earnings, Veru's Pre-EUA Meeting, Conference Presentations And More

Zinger Key Points
  • Biopharma news flow of the unfolding week will be dominated by mid- and small-cap earnings
  • Veru has a key meeting scheduled with the FDA for discussing the EUA for its COVID treatment

Biotech stocks declined yet again in the week ending May 6, dragged lower by macroeconomic concerns following the Federal Reserve's 50-basis-point rate hike. The iShares Biotechnology ETF IBB, considered a proxy for the sector, shed close to 3 percent during the week.

Penny stock and digital therapeutics company Better Therapeutics, Inc. BTTX more than doubled despite a lack of any meaningful catalysts. On the other hand, Connect Biopharma Holdings Limited CNTB lost more than half its market value after its investigational asset that is being evaluated for ulcerative colitis flunked a mid-stage trial.

Earnings news flow also continued to move stocks in the space.

Here are the key catalysts for biotech stocks in the unfolding week:

Conferences

World Federation of Hemophilia, or WFH, 2022 World Congress: May 8-11, in Montreal, Canada, as well as virtually
BofA Securities 2022 Healthcare Conference: May 9–13, in Las Vegas, Nevada
Psych Symposium: May 11, in London, U.K.
American Thoracic Society, or ATS, 2022 International Conference: May 13-18, in San Francisco, California

FDA Meeting

Veru, Inc. VERU has a pre-emergency use authorization meeting scheduled with the Food and Drug Administration on Tuesday for sabizabulin, its COVID-19 treatment.

Clinical Readouts/Presentations

Mereo BioPharma Group plc MREO is scheduled to host a conference call Monday, at 10:30 a.m. ET, to review top-line clinical data from its Phase 2 Study of Alvelestat in Alpha-1 antitrypsin deficiency-associated emphysema.

BioMarin Pharmaceutical, Inc. BMRN will present at the WFH Congress Phase 3 data for valoctocogene roxaparvovec, an AAV5-mediated gene therapy for hemophilia A.

Mind Medicine, Inc. MNMD is due to present at the Psych Symposium, results from the Phase 2 investigator-initiated clinical trial of LSD in the treatment of anxiety disorders. The presentation is scheduled for Wednesday.

Related Link: Attention Biotech Investors: Mark Your Calendar For May PDUFA Dates

Earnings

The earnings list presented is not comprehensive. Click here to access Benzinga's earnings calendar for the complete schedule

Monday

FibroGen, Inc. FGEN (after the close)
Heron Therapeutics, Inc. HRTX (after the close)
Novavax, Inc. NVAX (after the close)
ICU Medical, Inc. ICUI (after the close)
Y-mAbs Therapeutics, Inc. YMAB (after the close)

Tuesday

Bausch Health Companies Inc. BHC (before the market open)
Haemonetics Corporation HAE (before the market open)
Inovio Pharmaceuticals, Inc. INO (after the close)
OraSure Technologies, Inc. OSUR (after the close)

Wednesday

ADMA Biologics, Inc. ADMA after the close)

Thursday

Altimmune, Inc. ALT (before the market open)

Friday

PLx Pharma Inc. PLXP (before the market open)

Related Link: Here's Why Moderna Shares Are Trading Higher After Q1 Earnings Today

IPOs

Seattle, Washington-based Intrinsic Medicine, Inc. INRX has filed with the SEC regarding the initial public offering of 4.12 million shares of its common stock and warrants to purchase common stock. Selling shareholders will offer up to 13.62 million of the company's common stock.

Intrinsic Medicine is a preclinical-stage therapeutics company leveraging synthetic biology-manufactured human identical milk oligosaccharide molecules as new medicines to treat patients underserved by current treatment options. The company expects to price the common stock offering between $5 and $7. It has applied for listing its shares on the Nasdaq under the ticker symbol "INRX."

Posted In: BiotechEarningsMid CapNewsPenny StocksSmall CapFDAIPOsTop StoriesGeneral