Stockwatch: Fireworks Or Ballistic Missiles In Biotechnology?
Last week saw the NASDAQ Biotechnology Index (NBI) finish up 2.9%, outperforming a flat week for the broad market S&P 500 index. In the past six months this has been a reasonably rare event although it was often the case in the last biotech bull market that ended last summer. While much of the NBI's performance came from the relief rally on Friday, May 20, some commentators on social media were hailing it as the start of a recovery in biotechnology.
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Aduro hopes for a relatively quick resolution to a clinical hold for its LADD cancer vaccine studies instituted by the FDA based on listeria detected around indwelling ports in two patients.
Immuno-oncology deals command relatively high values, but transaction volumes are increasing annually at a steady pace, not skyrocketing despite intense interest in the field as big pharma companies remain selective IO dealmakers based on the strength of early-stage data.
Doesn't every biopharma company have an immuno-oncology strategy these days? It certainly seems that way, considering the number of drug developers that are labeling their therapeutic candidates as immunotherapies regardless of whether the description truly fits their asset.