The Week Ahead In Biotech: Moderna Vaccine And Roche, Revance, Rhythm, Liquidia FDA Updates
Biotech stocks came under pressure in the week ended Nov. 20, reversing course from the previous week. The sector started the week on a strong note, thanks to positive vaccine data reported by Moderna Inc (NASDAQ: MRNA).
The momentum faltered through the week after the broader market came under pressure amid fresh COVID-19 restrictions.
Earnings news flow slowed considerably. On the regulatory front, Sanofi SA (NASDAQ: SNY) was handed a complete response letter for its sutimlimab biologics license application. “The CRL refers to certain deficiencies identified by the agency during a pre-license inspection of a third-party facility responsible for manufacturing,” the company said in a release. Sutimlimab is an investigational monoclonal antibody for the treatment of hemolysis in adults with cold agglutinin disease. Alkermes Plc (NASDAQ: ALKS) also faced a rejection, with the FDA turning down the regulatory application for its schizophrenia drug.
Meanwhile, Eli Lilly And Co (NYSE: LLY) received …