Here we take a close look at three upcoming Biotech Stocks which have dominated majority of the news in the Biotech Segment. All three stocks: Clovis, Biogen & Halozyme have shown some promise in the past and would hope to continue their run of form in the coming months. Let’s take a closer look at the three stocks.
Clovis’ shares slumped 19.9% on safety concerns about its experimental lung cancer treatment, CO-1686. Clovis had presented encouraging data on the treatment at the annual meeting of the American Society of Clinical Oncology (ASCO).
However, about 22% of patients were found to have high sugar, which is associated with diabetes. Clovis is trying to bring its cancer treatment ahead of AstraZeneca which has a similar candidate in its portfolio. But safety concerns could put a lid on progress.
Biogen & Halozyme
Biogen now has another hemophilia treatment in its portfolio with the FDA approving Eloctate (hemophilia A). Hemophilia A, a rare, chronic, genetic disorder under which blood clotting ability is impaired, can lead to recurrent and extended bleeding episodes. Earlier this year, Biogen’s hemophilia B treatment Alprolix was approved in the U.S. A convenient dosing schedule (supported by a longer duration of action and a suitable safety profile) could help these products capture share from existing products in the hemophilia market.
The FDA lifted its clinical hold on Halozyme’s mid-stage study on PEGPH20 for pancreatic cancer. This removes uncertainty regarding this program which had run into trouble earlier this year due to safety concerns. The study will continue under a revised protocol. Shares were up 12%.
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Biotech Financial News
While nothing specific is lined up, stay tuned for the usual pipeline and regulatory updates. Moreover, with AbbVie upping its offer for Shire, these two companies will be in the news as investors mull the renewed offer. Earnings updates should also start trickling in over the next few days.
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