The Week Ahead In Biotech (April 17-April 23): J&J, Abbott Earnings, Adcom Test For TG Therapeutics And More
Biotech stocks retreated in the week ending April 14, lock-stepping with the broader market. The news flow was light during the holiday-shortened week and ahead of the imminent first-quarter reporting season.
Lyra Therapeutics, Inc. (NASDAQ:LYRA) was among the biggest gainers of the week following the completion of a $100.5 million private placement. Sierra Oncology, Inc. (NASDAQ:SRRA) also advanced strongly after it announced a deal to be acquired by GlaxoSmithKline plc (NYSE:GSK) for $1.9 billion.
Meanwhile, Kaleido Biosciences, Inc. (NASDAQ:KLDO) plunged after disclosing in a filing that it is shuttering operations. The microbiome therapeutic-focused biopharma was facing a cash crunch and clinical setbacks.
Regeneron Pharmaceuticals, Inc.'s (NASDAQ:REGN) communicated the Food and Drug Administration's decision to delay granting full approval of its antibody cocktail REGEN-COV as a prophylactic treatment for COVID-19.
Here are the key catalysts that could impact trading in biotech stocks in the unfolding week:
Conferences
2022 American Society of Cataract and Refractive Surgery, or ASCRS, Annual Meeting: April 23-26, in Washington, D.C.
2022 Tandem Meetings – Transplantation & Cellular Therapy Meetings Of American Society for Transplantation and Cellular Therapy, or ASTCT, and Center for International Blood and Marrow Transplant Research, or CIBMTR: April 23-26, in Salt Lake City, Utah
Related Link: Attention Biotech Investors: Mark Your Calendar For April PDUFA Dates
Adcom Calendar
FDA's Oncologic Drugs Advisory Committee is scheduled to meet on Friday, April 22 to discuss TG Therapeutics, Inc.'s (NASDAQ:TGTX) sNDA for Ukoniq (umbralisib) tablets, and BLA for ublituximab injection. The proposed indication for these two products is in combination for the treatment of adult patients with chronic lymphocytic leukemia or small lymphocytic lymphoma.
The committee will also discuss the existing umbralisib indications in patients with relapsed or refractory follicular lymphoma and marginal zone lymphoma approved under accelerated approval regulations.
Clinical Readouts/Presentations
ASCRS Meeting Presentation(s)
Ocular Therapeutix, Inc. (NASDAQ:OCUL): Phase 2 data for OTX-DED, an intracanalicular dexamethasone Insert, for the treatment of episodic dry eye disease (Saturday, 3:30-3:35 pm ET)
Earnings
Johnson & Johnson (NYSE:JNJ) (Tuesday, before the market open)
Abbott Laboratories (NYSE:ABT) (Wednesday, before the market open)
Plus Therapeutics, Inc. (NASDAQ:PSTV) (Thursday, after the close)
Intuitive Surgical, Inc. (NASDAQ:ISRG) (Thursday, after the close)
IPOs
IPO Quiet Period Expiry
AN2 Therapeutics, Inc. (NASDAQ:ANTX)
Related Link: Merck Continues to See Executive Exodus; Here's A Look At All Recent Departures