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:
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
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.
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.
Dallas-based Taysha Gene Therapies Inc. is planning to offer 6.579 million shares of its common stock at an estimated price range of $18-$20. The company, which is engaged in the development of AAV-based gene therapies for the treatment of monogenic diseases of the central nervous system, has applied to list its shares on the Nasdaq under the ticker symbol TSHA.
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