“Women and cats will do as they please, and men and dogs should relax and get used to the idea.” ― Robert A. Heinlein
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The biotech sector along with the rest of the market had a punk week. Escalating trade tensions and oil hitting a three and a half year high had investors on the retreat this week. The S&P 500 was down 1.3% on the week as rally Friday petered out to close out a forgetting week. Weakness in Tech and Biotechnology caused the NASDAQ to drop 2.3% this week with slightly higher losses from the Russell 2000.
So, what is ahead this upcoming week for the biotech sector? We take a look at the important trial milestones, conference presentations and FDA actions that could move small and mid-cap biotech names in the week ahead below.
Summer is shaping up to be a very slow time for the FDA calendar. Much like volume dries up on Wall Street as many traders head to the Hamptons or other summer vacation spots, the FDA, healthcare conference and investor day schedule slows down markedly during the hot summer months and become about as active as my Golden Retriever Cooper (pictured above) during the 'dog days' of summer.
We should know the fate for Alkermes (ALKS) around its Aripiprazole Lauroxil NanoCrystal Dispersion application for the treatment of schizophrenia early Monday. Morgan Stanley downgraded the stock on June 21st due to the fact it thought the company was likely to see some disappointing news in coming months.
Newlink Genetics (NLNK) is scheduled to present Phase I data at the The International Symposium on Pediatric Neuro-Oncology or INSNO event in Denver today. The data resolve around its drug candidate Indoximod in combination with chemotherapy and radiation to treat diffuse intrinsic pontine glioma.
Other companies that are due to release trial data in July (but not with any set dates) include the following.
Zogenix (ZGNX) - Phase 3 trial results for ZX-008 for Dravet Syndrome
Aclaris Therapeutics (ACRS) - Phase 2 data for ATI-502 for alopecia areata, aka regrowth of eyebrows
Leap Therapeutics (LPTX) - Phase 1 for its compound DKN-01 against biliary tract cancer
Ultragenyx Pharmaceutical (RARE) - Full Phase 2 data for KRN23 also known as Burosumab for treating tumor-induced osteomalacia
SCYNEXIS (SCYX) - Phase 2b data around its primary drug candidate SCY-078 for vulvovaginal candidiasis
And those are the major events scheduled for some small and midcap companies across the sector in the week ahead. Happy Hunting
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