The biotech sector closed out August on a high note. The SPDR Biotech ETF (XBI) rose some four percent on the week as myriad small cap biotech names like Zynerba Pharmaceuticals (ZYNE) and Adverum Biotechnologies (ADVM) surged throughout the week.
The NASDAQ ended August up 5.7%, its best performance for that month since 2005 (which not coincidentally was the last time the economy grew at a three percent or better pace for a full year).
It was nice to see the sector end the month in 'risk on' mode after spending most of the summer not doing much on low volume trading. Trading volume should pick up after Labor Day weekend which is traditional end of long summer retreats for much of Wall Street. Hopefully, M&A activity across the industry which has been dormant in the third quarter will also start to pick up in the weeks ahead.
So what is ahead for biotech sector in the holiday shortened upcoming week? We look at the key events and the FDA calendar in the week ahead in the paragraphs below.
The surge in the biotech sector helped the model Insiders Forum portfolio hit a new all time high-water mark this week. Since its launch on 06/30/2016, the Insider's Forum model portfolio has generated an overall return of 86.69%, almost double that of the Russell 2000 (43.53%) over that time frame. To celebrate we are giving 14-day free trials and 20% off the first of membership into the Insiders Forum through midnight EST today. To initiate your free two-week trial, just click HERE.
> We often miss opportunity because it's dressed in overalls and looks like work” ― Thomas A. Edison
The Annual Symposium of the Society for the Study of Inborn Errors of Metabolism (SSIEM) will be held in Athens on September 4th to September 7th 2018. Aeglea BioTherapeutics (AGLE) will present Phase 1/2 data for its compound Pegzilarginase also known as AEB1102 for the treatment of Arginase I deficiency today.
Wednesday at the same conference, BlueBird Bio (BLUE) will discuss Phase 2/3 results for its drug candidate for childhood cerebral adrenoleukodystrophy. Later that same day ProQR Therapeutics (PRQR)will provide an interim analysis around its Phase 1/2 trial for its drug candidate targeting Leber's Congenital Amaurosis - Genetic blindness. Right after that presentation, Sangamo Therapeutics (SGMO) will present initial Phase 1/2 data for its compound aimed at Mucopolysaccharidosis type II (MPS II), also known as Hunter Syndrome.
Finally on Wednesday, Spectrum Pharmaceuticals (SPPI) is scheduled to release a Phase 2 data abstract online for its compound 'Poziotinib' targeting Non-small cell lung cancer (NSCLC) with exon 20 insertion mutation in EGFR or HER2. Full Phase 2 data will be presented at the World Conference on Lung Cancer on September 24th.
Roche (OTCQX:RHHBY) and GlaxoSmithKline (GSK) have PDUFA dates this week but I don't see anything on the calendar for small and mid-cap biotech concerns.
Hopefully the biotech sector can add to last week's surge in trading this week and M&A and trading volume starts to come back into the market as well.
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Thank You & Happy Hunting,
Bret Jensen
Founder, The Biotech Forum, The Busted IPO Forum & The Insiders Forum
