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The Week Ahead In Biotech: Amgen, Eli Lilly, Pfizer In Earnings Mix, IPO Flow Resumes

Biotech stocks haven't seen much of a momentum thus far in the new year amid a lack of meaningful catalysts.

Benzinga · 01/26/2020 15:23

Biotech stocks haven't seen much of a momentum thus far in the new year amid a lack of meaningful catalysts. The bygone week saw two FDA approvals: Horizon Therapeutics PLC's (NASDAQ: HZNP) thyroid eye disorder drug and Epizyme Inc's (NASDAQ: EPZM) tazemetostat for epithelioid sarcoma.

The Wuhan coronavirus scare triggered strong moves in stocks of companies working on treatment/vaccines for the deadly virus.

Here are the key catalysts that could impact trading in biotech stocks in the unfolding week.

Conferences

12th Annual T-cell Lymphoma Forum: Jan. 30–Feb. 1 in San Diego, California

PDUFA Dates

Aimmune Therapeutics Inc (NASDAQ: AIMT) has a target action date of end of January for its peanut allergy treatment candidate Palforzia. An Adcom that evaluated the experimental therapy voted 7-to-2 in favor of the efficacy of Palforzia and 8-to-1 in favor of its safety.

See Also: 7 Blockbuster Drugs Expected To Be Launched In 2020

Clinical Readouts

Miragen Therapeutics Inc (NASDAQ: MGEN) will make a poster presentation of data from the Phase 1 trial of cobomarsen, a miR inhibitor in patients with aggressive HTLV-1 Associated adult T-cell leukemia/lymphoma. The presentation is scheduled for Friday evening.

Earnings

Tuesday

  • Pfizer Inc. (NYSE: PFE) (before the market open)

Wednesday

  • Illumina, Inc. (NASDAQ: ILMN) (after the market close)
  • Varian Medical Systems, Inc. (NYSE: VAR) (after the market close)
  • Hologic, Inc. (NASDAQ: HOLX)

Thursday

  • Quest Diagnostics Inc (NYSE: DGX) (before the market open)
  • Eli Lilly And Co (NYSE: LLY) (before the market open)
  • Biogen Inc (NASDAQ: BIIB) (before the market open)
  • Amgen, Inc. (NASDAQ: AMGN) (after the market close)
  • Edwards Lifesciences Corp (NYSE: EW) (after the market close)

IPOs

Anpac Bio-Medical Science, which focuses on early cancer screening and detection, has filed to offer 17.50 million shares in an IPO, which is expected to be priced between $14 and $16. The company is seeking to list its shares on the Nasdaq under the ticker symbol "ANPC."

Arcutis Biotherapeutics, a biotech company developing topical therapies for common skin diseases, proposes to offer 7.8 million shares at a price range of $15-$17. The shares are to be listed on the Nasdaq under the ticker symbol "ARQT."

Black Diamond Therapeutics, a precision oncology company, is planning an 8.9-million share IPO to be priced between $16 and $18. The company expects to list the shares on the Nasdaq under the ticker symbol "BDTX."