The Week Ahead In Biotech (May 8-14): Bausch Health Headlines Smid-Cap Earnings, Veru's Pre-EUA Meeting, Conference Presentations And More
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 NASDAQ:IBB, considered a proxy for the sector, shed close to 3 percent during the week.
Penny stock and digital therapeutics company Better Therapeutics, Inc. NASDAQ:BTTX more than doubled despite a lack of any meaningful catalysts. On the other hand, Connect Biopharma Holdings Limited NASDAQ: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:
BofA Securities 2022 Healthcare Conference:
Psych Symposium:
American Thoracic Society, or ATS, 2022 International Conference:
FDA Meeting
Veru, Inc. NASDAQ: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 NASDAQ:MREO is scheduled to host a conference call Monday, at
BioMarin Pharmaceutical, Inc. NASDAQ:BMRN will present at the WFH Congress Phase 3 data for valoctocogene roxaparvovec, an AAV5-mediated gene therapy for hemophilia A.
Mind Medicine, Inc. NASDAQ: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. NASDAQ:FGEN (after the close)
Heron Therapeutics, Inc. NASDAQ:HRTX (after the close)
Novavax, Inc. NASDAQ:NVAX (after the close)
ICU Medical, Inc. NASDAQ:ICUI (after the close)
Y-mAbs Therapeutics, Inc. NASDAQ:YMAB (after the close)
Tuesday
Bausch Health Companies Inc. NYSE:BHC (before the market open)
Haemonetics Corporation NYSE:HAE (before the market open)
Inovio Pharmaceuticals, Inc. NASDAQ:INO (after the close)
OraSure Technologies, Inc. NASDAQ:OSUR (after the close)
Wednesday
ADMA Biologics, Inc. NASDAQ:ADMA after the close)
Thursday
Altimmune, Inc. NASDAQ:ALT (before the market open)
Friday
PLx Pharma Inc. NASDAQ:PLXP (before the market open)
Related Link: Here's Why Moderna Shares Are Trading Higher After Q1 Earnings Today
IPOs
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