Biotech stocks see-sawed through the week ended Jan. 31 and ended the month lower overall. Big pharma earnings of the week were mostly disappointing.
Pfizer Inc. (NYSE: PFE) reported disappointing fourth-quarter earnings and Amgen, Inc. (NASDAQ: AMGN) guided 2020 below consensus, while Eli Lilly And Co (NYSE: LLY) managed to outperform expectations.
The week continued to see coronavirus-related spikes, with Cleveland BioLabs, Inc. (NASDAQ: CBLI), NanoViricides, Inc. (NASDAQ: NNVC), Vir Biotechnology, Inc. (NASDAQ: VIR) and Vaccinex, Inc. (NASDAQ: VCNX) among the stocks riding on the momentum.
The much-anticipated FDA verdict on Aimmune Therapeutics Inc's (NASDAQ: AIMT) peanut allergy drug Palforzia came through in the week, with the regulatory agency greenlighting the drug.
Related Link: 7 Blockbuster Drugs Expected To Be Launched In 2020
Turning ahead to the unfolding week, the following are key catalysts that could create a ripple in the biotech space.
- 2nd International Scientific & Clinical Congress on Spinal Muscular Atrophy: Feb. 5-7 in Paris, France
- The European Association for Hemophilia and Allied Disorders, or EAHAD, 2020 Congress: Feb. 5-7 in Hague, Netherlands
- ASCO-SITC Clinical Immuno-Oncology Symposium: Feb. 6-8 in Orlando, Florida
- Angiogenesis, Exudation, and Degeneration 2020: Feb. 8 in Miami, Florida
Forty Seven Inc …
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