Biotech stocks came under selling pressure in the final week of 2021, although they carved out modest gains for the year.
On the regulatory front, the Food And Drug Administration approved Xeris Biopharma Holdings Inc.'s (XERS) Recorlev for the treatment of endogenous hypercortisolemia in adult patients with Cushing's syndrome for whom surgery is not an option or has not been curative.
AstraZeneca plc (NASDAQ:AZN) announced the closure of the development and commercialization agreement with Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) for epiontersen, a Phase 3 investigational antisense therapy being evaluated for all types of transthyretin amyloidosis, a rare disease caused by abnormal deposits of amyloid.
BridgeBio Pharma, Inc. (NASDAQ:BBIO) shares lost more than half of their market capitalization after a failed Phase 3 study of its acoramidis for the treatment of symptomatic TTR amyloid cardiomyopathy.
Here are the key catalysts that can sway biotech stocks in the unfolding week:
Conferences
Goldman Sachs 14th Annual Healthcare CEOs Unscripted Conference: Jan. 6
Clinical Readouts/Presentations
Edgewise Therapeutics, Inc. (NASDAQ:EWTX) is scheduled to report topline results from the Phase 1b clinical trial of EDG-5506 in individuals with Becker muscular dystrophy on Wednesday, at 9 am.
Sutro Biopharma, Inc. (NASDAQ:STRO) is due to provide interim data from the dose-expansion cohort of the Phase 1 study of STRO-002, an antibody-drug conjugate, for patients with advanced ovarian cancer at a company-hosted KOL virtual event. The event and Q&A session will be available by webcast, to be held on Wednesday, at 5 pm ET.
Avalo Therapeutics, Inc. (NASDAQ:AVTX) will host a virtual investor day on Thursday, from 8 am to 10 am. At the event, the company will provide updates on the Phase 1b proof-of-concept study of AVTX-002 in Crohn's disease, the AVTX-007 development program for multiple myeloma and adult-onset Still's disease and the AVTX-803 development program for leukocyte adhesion deficiency type II.
Earnings
AngioDynamics, Inc. (NASAQ: ANGO) (Thursday, before the market open)
IPO Quiet Period Expiry
- Cingulate Inc. (NASAQ: CING)
- NeuroSense Therapeutics Ltd. (NASAQ: NRSN)
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