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The Week Ahead In Biotech (Oct. 31-Nov. 6): Earnings Pick Up Pace, Eton Awaits Seizure Drug Approval, Kidney Conference, More IPOs In The Pipeline

The Week Ahead In Biotech (Oct. 31-Nov. 6): Earnings Pick Up Pace, Eton Awaits Seizure Drug Approval, Kidney Conference, More IPOs In The Pipeline
Biotech stocks rose a third week running in the week ending Oct. 29 amid positive reaction to earnings. Big pharma earnings were mostly better than expected.

Merck & Co, Inc. (NYSE:MRK) led the gains among large-cap pharma companies, with a weekly gain of over 8%, thanks to its third-quarter results that were notably above expectations. Investor optimism can also be attributed to expectations concerning its COVID-19 antiviral treatment being developed with Ridgeback.

Meanwhile, Gilead Sciences, Inc. (NASDAQ:GILD) shares came under pressure after the biopharma tempered its forecasts for non-COVID-19 sales.

Regulatory decisions for the week were mixed. Eyenovia, Inc. (NASDAQ:EYEN)'s MydCombi new drug application was shot down with a complete response letter, while Clearside Biomedical, Inc. (NASDAQ:LSD) & Bausch Health Companies Inc. (OTC:BHC) received a regulatory nod for their Xipere for suprachoroidal use for the treatment of macular edema associated with uveitis, a form of eye inflammation.

On a positive vaccine-related news flow Pfizer, Inc. (NYSE:PFE)-BioNTech SE (NASDAQ:BNTX) received Food and Drug Administration authorization for their COVID-19 vaccine for use in the pediatric population.
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