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The Week Ahead In Biotech: Focus On Chemocentryx FDA Decision, Conference Presentations In A Light Week

The Week Ahead In Biotech: Focus On Chemocentryx FDA Decision, Conference Presentations In A Light Week
Biotech stocks advanced for a second week in running, with stocks reacting to pending releases for the second quarter and the first-half of the year.

The week witnessed a few COVID-19 disappointments. CureVac N.V. (NASDAQ:CVAC) confirmed the sub-par efficacy data for its first-generation vaccine against the novel coronavirus.

Altimmune, Inc. (NASDAQ:ALT) shares fell about 43% for the week after it announced it is rolling up its intranasal COVID-19 vaccine program. The company was also forced to stop enrollment into the phase 1/2 trial for T-COVID, its single dose intranasal therapeutic for treating early COVID-19. Angion Biomedica Corp. (NASDAQ:ANGN) decided to shelve its COVID-19 program following a failed Phase 2 study.

Several R&D collaborations and licensing deals were announced during the week. Alector, Inc. (NASDAQ:ALEC) shares jumped Friday after it announced an out-licensing deal with GlaxoSmithKline plc (NYSE:GSK) for two monoclonal antibodies being evaluated for the treatment of neurodegenerative diseases.

Among the stocks that made their Wall Street debuts were Acumen Pharmaceuticals, Inc. (NASDAQ:ABOS), medical device maker CVRx, Inc. (NASDAQ:CVRX) and Aerovate Therapeutics, Inc. (AVTE), a cardiopulmonary diseases focused biopharma. POINT Biopharma Inc. (NASDAQ:PNT) made its debut through a SPAC deal.
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