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The Week Ahead In Biotech (July 25-31): Big Pharma Earnings, Iterum FDA Decision, Alzheimer's Conference, IPOs and More

The Week Ahead In Biotech (July 25-31): Big Pharma Earnings, Iterum FDA Decision, Alzheimer's Conference, IPOs and More
Biotech stocks rebounded in the week ended July 23, thanks to the broader market strength. The sector also benefitted from the optimism that was set in motion by the solid start to the pharma reporting season.

Big pharma companies, including Johnson & Johnson (NYSE:JNJ) and Novartis AG (NYSE:NVS) reported forecast-beating results and issued positive guidance. Preannouncements from the space were also largely positive.

Moderna, Inc.'s (NASDAQ:MRNA) buoyancy spilled over into the week. The stock went from strength to strength and ended the week with a gain of over 21%. On Wednesday, the company was added to the S&P 500 Index.

Ardelyx, Inc. (NASDAQ:ARDX) lost about 77% of its market capitalization after the Food and Drug Administration flagged potential deficiencies in its tenapanor new drug application as a treatment for hyperphosphatemia.

Pfizer, Inc.(NYSE:PFE) also faced a regulatory setback as the FDA communicated a delay in the decisions for its atopic dermatitis treatment and Xeljanz/Xeljanz XR for the treatment of adults with ankylosing spondylitis.
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