Biotech stocks found themselves among gains in the week ended Sept. 18, with conference presentations, IPO news flow and updates on coronavirus vaccine/antibody candidates catalyzing some strong moves.
A big-ticket M&A was announced at the start of the week. Gilead Sciences Inc. (NASDAQ: GILD agreed to buy Immunomedics Inc. (NASDAQ: IMMU), which has a commercial antibody drug conjugate in the market.
Three biopharma companies and a dialysis equipment maker debuted on Wall Street, with the former group raising combined gross proceeds of $522 million.
Here're the catalytic events for the unfolding week:
Conferences
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56th annual meeting of the European Association for the Study of Diabetes, or EASD: Sept. 21-25
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2020 American Academy of Neurology Science Highlights: Sept. 23-24
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14th annual Sickle Cell Disease Research and Educational Symposium and 43rd National Sickle Cell Disease Scientific Meeting (virtual event): Sept. 23-25
PDUFA Dates
The FDA could announce its decision on Bausch Health Companies Inc's (NYSE: BHC) NDA for EM-100, which it had licensed from Eton Pharmaceuticals Inc (NASDAQ: ETON), for the treatment of allergic conjunctivitis. The regulatory agency had not ruled by the GDUFA date of Sept. 15. Eton announced in a Sept. 16 news release its partner Bausch has not received any communication by the decision date.
See Also: 7 Reasons Why A Coronavirus Vaccine May Not Work The Way You Hope
Clinical Readouts:
Pieris Pharmaceuticals Inc. (NASDAQ: PIRS) is scheduled to present at the ESMO Congress, phase 1 dose-escalation data for PRS-343 monotherapy and combination with Roche Holdings AG's Basel ADR Common Stock (OTC: RHHBY) Tecentriq for treating HER2-positive tumors.
vTv Therapeutics Inc. (NASDAQ: VTVT) will present at the EASD annual meeting additional positive clinical study results from the Phase 2 Simplici-T1 as adjunctive therapy for patients with Type 1 diabetes.
GlycoMimetics Inc. (NASDAQ: GLYC) will present a poster on data from a post hoc analysis of the Phase 3 RESET trial that evaluated rivipansel as a treatment option for acute vaso-occlusion in sick cell disease patients requiring hospitalization for treatment.
Earnings
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Centogene NV NASDAQ: CNTG (Tuesday before the market open)
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Aytu Bioscience Inc NASDAQ: AYTU (Thursday, after the close)
IPOs
Woodcliff Lake, New Jersey-based Paxmedica Inc. has filed with the SEC for a 2.5-million share initial public offering, or IPO. It is a clinical stage biopharma, focusing on the development of anti-purinergic therapies for the treatment of neurodevelopmental disorders, including autism spectrum disorder, and Fragile X tremor-ataxia syndrome. The company expects the offering to be priced between $5.50 and $6.50. The company has applied for listing its shares on the Nasdaq under the ticker symbol PXMD.