ASCO Abstracts Week: Biotech Trends and Hot Stocks

Biotech Trends: Immuno-Oncology Stocks Trending Strong Await ASCO Meeting on June 2

Prices as of Monday 11:45A with NASDAQ up 0.73%

FBT $106.75 up 0.2%, IBB flat at $290.64, XBI at $69.33 up 0.3%

Here is a selection of  biotech trending stocks that have had significant moves or released ASCO Abstract news last week. The indices were flat to down last week: IBB down 1.64% to $290.45,  XBI down 1.27% to $69.13. We appear to be in a mode where stock picking will outperform the ETFs. However look at Monday’s performance to see which stocks held up from last week’s moves. ASCO Meeting coming up June 2-6.

Week of May 15-19 Friday Closing and Five Day as well as Monday May 22 performance.

                                                                             5 Day              5/22     

Alnylam Pharmaceuticals (ALNY) $71.67, up 26.26%,   $72.72 up 1.47%

Unrelated to oncology but Alnylam got a boost for its Phase 3 drug patisiran, for familial amyloid polyneuropathy, because a competing drug from Ionis (IONS) reported safety issues.IONS stock is a relatively stable stock flat over 5 days but trending down in May.

bluebird bio (BLUE) $82.45 down 5.77%,  $78.95 down 4.24%

BLUE has been breaking down off its recent highs and March high of $97.85. bluebird bio will present its anti-BCMA CAR-T updated clinical results for Relapsed/Refractory Multiple Myeloma (bb2121 partnered with CELG) on June 6 at ASCO.

Clovis Oncology (CLVS) $52.24 up 9.75%,  $54.44 up 4.2%

Nothing new from Clovis Oncology on their PARP inhibitor ovarian cancer drug Rubraca but J.P.Morgan analyst Cory Kasimov upgraded the stock last week ahead of a Phase 3 maintenance study.

Epizyme (EPZM) $17.80 up 9%,  $16.80 down 6.15%

EPZM will present new clinical data for EZH2 inhibitor Tazemetostat at ASCO for Epitheloid sarcoma.EPZM stock is an uptrend and tracking its May high of $18.

Glycomimetics (GLYC) $12.76 up 135.94%,   $11.18 down 12.38%

GLYC was on elf the biggest movers on ASCO Abstracts on their ongoing Phase 2 clinical trial for GM-1271, an E-selectin antagonist for patients with acute myeloid leukemia. The FDA also granted GM-1271 a “Breakthrough Therapy” designation.

Incyte (INCY) $131.45 up 14.1%,    $134.25 up 2.15%

Incyte remains one of the hottest stocks of 2017 although off its March highs of $152.66.The Incyte  selective IDO inhibitor drug Epacadostat works well in combination with Merck’s Keytruda and Bristol’s Opdivo both PD-1 inhibitors within and across tumor types. The INCY market cap is $27B.

Juno Therapeutics (JUNO) $23.64 down 1.99%, $23.83 up 0.93%

Kite Pharma (KITE) $70.71 down 6.26%, $70.9 up 0.27%

The Kite Abstract had nothing new but is waiting for FDA approval of KTE C19 for relapsed/refractory non-hodgkin lymphoma. Another weak CAR-T stock off mid-March highs.

Merck (MRK) $63.78 up 0.33%, $64.08 up 0.47%

Keytruda is the emerging leader in immuno-oncology, but the Company also has a broad pipeline in oncology, infectious diseases, vaccines and diabetes.

Puma Biotechnology (PUMA) $37.80 up 17.21%, $52.45 up 38.49%

Puma released an Abstract on its breast cancer drug candidate neratinib as an adjuvant treatment with hormone therapies. PBYI soared today on posting of FDA Oncologic Drugs Advisory Committee Briefing Document.

Regeneron (REGN) $450 up 1.8%,  $461.48 up 2.55%

REGN is the large cap leader up 26% YTD,

Vertex Pharmaceuticals (VRTX) $118 up 2.98%,   $119 up 0.83%

VRTX is a very hot mid-cap up 60 % YTD even beating INCY.

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In other notable action today May 22 Amgen (AMGN) was down over 2 %.on news that its osteoporosis treatment Evenity is unlikely to win FDA approval this year because of a safety risk. Radius Health (RDUS) was up over 6% to $37.30 as their rival drug Tymlos was approved in April.

 

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