Biotech stocks continued to move southward in the week ended March 5, as the broader market extended its sell-off. Though light on news, the week did witness earnings releases from smaller biopharma companies, coronavirus vaccine program updates, mixed FDA rulings and clinical readouts.
Morphic Holding Inc MORF 1.39% was among the biggest gainers of the week after the company reported a positive early-stage readout in inflammatory bowel disease patients.
M&A momentum continued, as Amgen Inc. (AMGN) announced a deal to buy Five Prime Therapeutics, Inc. FPRX 0.63% in an $1.9-billion all-cash deal.
Here are the key catalysts for the unfolding week:
Conferences
Chardan's 3rd Annual Microbiome Medicines Summit: March 8
H.C. Wainwright Global Life Sciences Conference: March 9-11
Barclays Global Healthcare Conference: March 9-11
15th International Conference on Alzheimer's and Parkinson's disease: March 9-14
Clinical Readouts
Prothena Corporation plc PRTA 0.9% will present at the Alzheimer's and Parkinson's disease conference new preclinical data on a treatment for Alzheimer's disease. The treatment targets an anti-tau antibody, which is thought to play a role in the disease. The company says targeting a certain antibody called a novel epitope with PRX005 has shown superior results. The presentation is scheduled for Thursday, March 11, between 7:30 a.m. and 7:45 a.m.
Earnings
Monday
Minerva Neurosciences, Inc. NERV 1.06% (before the market open)
Syndax Pharmaceuticals, Inc. SNDX 4.43% (after the close)
Castle Biosciences, Inc. CSTL 1.04% (after the close)
SI-BONE, Inc. SIBN 0.96% (after the close)
Avadel Pharmaceuticals plc AVDL 2.12% (after the close)
Tuesday
Xeris Pharmaceuticals, Inc. XERS 2.02% (before the market open)
Trevena, Inc. TRVN 0.48% (before the market open)
InspireMD, Inc. NSPR 5.87% (before the market open)
Marinus Pharmaceuticals, Inc. MRNS 4.03% (before the market open)
DarioHealth Corp. DRIO 10.25% (before the market open)
Gamida Cell Ltd. GMDA 1.54% (before the market open)
Evelo Biosciences, Inc. EVLO 2.88% (before the market open)
ANI Pharmaceuticals, Inc. ANIP 3.87% (before the market open)
Aquestive Therapeutics, Inc. AQST 4.5% (after the close)
Brickell Biotech, Inc. BBI 0.86% (after the close)
Cytosorbents Corporation CTSO 0.69% (after the close)
Cumberland Pharmaceuticals Inc. CPIX 2.66% (after the close)
MiMedx Group, Inc. MDXG 5.06% (after the close)
Inari Medical, Inc. NARI 2.45% (after the close)
Lyra Therapeutics, Inc. LYRA 2.64% (after the close)
Wednesday
Bio-Path Holdings, Inc. BPTH 5.57% (before the market open)
Harvard Bioscience, Inc. HBIO 8.44% (before the market open)
BioDelivery Sciences International, Inc. BDSI 0.75% (before the market open)
Clearside Biomedical, Inc. CLSD 2.77% (after the close)
DiaMedica Therapeutics Inc. DMAC 0.58% (after the close)
Five Prime Therapeutics FPRX 0.63% (after the close)
Flexion Therapeutics, Inc. FLXN 0.26% (after the close)
Harpoon Therapeutics, Inc. HARP 7.78% (after the close)
Lantern Pharma Inc. LTRN 2.54% (after the close)
TFF Pharmaceuticals, Inc. TFFP 5.02% (after the close)
Lexicon Pharmaceuticals, Inc. LXRX 1.8% (after the close)
Protagonist Therapeutics, Inc. PTGX 3.59% (after the close)
OrthoPediatrics Corp. KIDS 2.37% (after the close)
Thursday
Burning Rock Biotech Limited BNR 5.37% (before the market open)
BioXcel Therapeutics, Inc. BTAI 5.21% (before the market open)
Aldeyra Therapeutics, Inc. ALDX 0.09% (before the market open)
Achieve Life Sciences, Inc. ACHV 1.44% (after the close)
Capricor Therapeutics, Inc. CAPR 5.53% (after the close)
Lineage Cell Therapeutics, Inc. LCTX 0.53% (after the close)
Geron Corporation GERN 1.69% (after the close)
Chembio Diagnostics, Inc. CEMI 1.83% (after the close)
Ocular Therapeutix, Inc. OCUL 6.81% (after the close)
Nabriva Therapeutics plc NBRV 2.29% (after the close)