Biotech stocks are on track to extend their losses, bucking the positive broader market sentiment. The week saw Achaogen Inc (NASDAQ: AKAO) filing for Chapter 11 bankruptcy and negative clinical readouts from companies such as TRACON Pharmaceuticals Inc (NASDAQ: TCON) and Wave Life Sciences Ltd (NASDAQ: WVE).
Conversely, Johnson & Johnson (NYSE: JNJ) kickstarted big pharma earnings season with a bang.
The following are some of the key catalysts of the unfolding week for biotech investors to watch:
- 5th International Conference on Spine and Spinal Disorders: April 22-23 in Rome, Italy
- 13th International Conference on Tissue Science, Engineering, Regenerative Medicine & Bio Banking: April 24-25 in Vancouver, British Columbia
- International Conference on Gastroenterology and Hepatology: April 24-25 in Budapest, Hungary
- 11th World Congress For Hair Research of the European Hair Research Society: April 24-27 in Sitges, Barcelona, Spain
- 28th Annual Scientific and Clinical Congress of the American Association of Clinical Endocrinologists: April 24-28 in Los Angeles, California
- 6th International Conference on Depression, Anxiety and Stress Management: April 25-26 in London
- 14th International Conference on Tissue Engineering & Regenerative Medicine: April 25-27 in Amsterdam, Netherlands
- 7th International Conference and Exhibition on Bacteriology & Antibiotics: April 26-27 in Vancouver
The FDA is likely to rule on AbbVie Inc (NYSE: ABBV)'s risankizumab that is being evaluated for moderate to severe plaque psoriasis.
Clinical Trial Readouts
Concert Pharmaceuticals Inc (NASDAQ: CNCE) is due to present Phase 2a data for CTP-543, which is being evaluated for Alopecia areata, at the 11th World Congress For Hair Research. The presentation is scheduled for 7 a.m. Eastern on Thursday, April 25. Alopecia areata is an autoimmune disorder that invariably results in complete hair loss.
Horizon Pharma PLC (NASDAQ: HZNP) is scheduled to present at 2 p.m. Eastern on Friday, April 26 with already released Phase 3 data for its thyroid eye disease treatment teprotumumab. The company's presentation is to be made at the 28th Annual Scientific and Clinical Congress of the American Association of Clinical Endocrinologists.
Tuesday, April 23
- Edwards Lifesciences Corp (NYSE: EW) (after the market close)
- Merit Medical Systems, Inc. (NASDAQ: MMSI) (after the market close)
Wednesday, April 24
- Boston Scientific Corporation (NYSE: BSX) (before the market open)
- Biogen Inc (NASDAQ: BIIB) (before the market open)
- Integra Lifesciences Holdings Corp (NASDAQ: IART) (before the market open)
Thursday, April 25
- AbbVie Inc (before the market open)
- Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) (before the market open)
- Bristol-Myers Squibb Co (NYSE: BMY) (before the market open)
- Baxter International Inc (NYSE: BAX) (before the market open)
- AtriCure Inc. (NASDAQ: ATRC) (after the market close)
- BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) (after the market close)
- Seattle Genetics, Inc. (NASDAQ: SGEN) (after the market close)
- Illumina, Inc. (NASDAQ: ILMN) (after the market close)
Friday, April 26
- Zimmer Biomet Holdings Inc (NYSE: ZBH) (before the market open)
IPO Quiet Period Expiry
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