The Week Ahead In Biotech (May 30-June 4): FDA Decision For Eton's Partnered Epilepsy Drug, ASCO Conference Gets Underway And More

Biotech stocks advanced in the week ended May 27, tracking the overall positive sentiment of the broader market. Notwithstanding the week's strength, the sector has been one of the worst performers for the year-to-date period.

Among notable developments, Genocea Biosciences, Inc. GNCA announced that it is shuttering operations amid a cash crunch. The company also plans to voluntarily delist its shares from Nasdaq by June 2.

Verrica Pharmaceuticals, Inc. VRCA suffered a setback after its viral skin infection treatment candidate was rejected by the Food and Drug Administration on its third try.

Catalyst Biosciences, Inc. CBIO shares skyrocketed after the company announced a deal to sell its portfolio of protease medicines that regulate complement to Vertex Pharmaceuticals, Inc. VRTX.

Looking ahead, the American Society of Clinical Oncology, or ASCO, the meeting is likely to be in the spotlight this week. Presentations at the conference have the potential to move stocks.

Here are the key biotech catalysts for the unfolding week:



European Alliance of Associations For Rheumatology, or EULAR, 2022: June 1-4, held in Copenhagen, Denmark, & virtually

2022 ASCO Annual Meeting: June 3-7, held in Chicago, Illinois & virtually



Azurity Pharma, which is partnering with Eton Pharmaceuticals, Inc. ETON, has a PDUFA goal date of May 30 for lamotrigine suspension, a drug to treat epilepsy.


Clinical Readouts/Presentations

EULAR Presentations 

AbbVie, Inc. ABBV: data for Rinvoq in patients with non-radiographic axial spondyloarthritis and ankylosing spondylitis, results from the Rinvoq vs. Humira study in psoriatic arthritic patients; data for Skyrizi in psoriatic arthritis.

Aurinia Pharmaceuticals, Inc. AUPH: results of two-year AURORA 2 continuation study of Lupkynis for lupus nephritis

Horizon Therapeutics plc HZNP: Data for methotrexate combined with pegloticase in patients with uncontrolled gout

UCB SA UCBJY: new data from the Phase 3 of bimekizumab across the full spectrum of axial spondyloarthritis

Alpine Immune Sciences, Inc. ALPN: new preclinical and preliminary Phase 1 data of ALPN-303

Kezar Life Sciences, Inc. KZR: Phase 2 data for KZR-616 in autoimmune disorders

Related Link: Pfizer To Sell 23 Patented Drugs, Vaccines At Lower Prices To Poorer Countries



Burning Rock Biotech Limited BNR (Tuesday, before the market opens)



IPO Pricing 

San Antonio, Texas-based bioAffinity Technologies, Inc. (NASDAQ: ) has filed with the SEC a preliminary prospect on S-1 regarding the initial public offering of 1.5 million units at an expected IPO price of $6.75 per unit. Each unit consists of one share of the company's common stock and one warrant to purchase one share of common stock at an expected exercise price of $8.10 per share.

bioAffinity is a developer of proprietary noninvasive diagnostic tests and cancer therapeutics using technology that preferentially targets cancer cells and cell populations indicative of a diseased state. The company has applied for listing its common stock and warrants on the Nasdaq under the symbols BIAF and BIAFW, respectively.

IPO Quiet Period Expiry 

PepGen Inc. PEPG

Bausch + Lomb Corporation BLCO

Related Link: Mizuho Sees Compelling Risk/Reward For This Schizophrenia Stock Despite Recent Weakness

Photo via Wikimedia Commons

Posted In: BiotechNewsPenny StocksSmall CapFDAIPOsGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.