Two binary events from the previous Biotech Stock Watch List hit the trading screens last week.
On Monday, Dynavax Technologies Corporation (NASDAQ:DVAX) shares plummeted over 64% following news that it received a Complete Response Letter (CRL) from the FDA for its Biologics License Application (BLA) for HEPLISAV-B for the treatment of hepatitis B infection. Followed on Tuesday by The Medicines Company (Nasdaq:MDCO) and Alnylam Pharmaceuticals, Inc. (Nasdaq:ALNY) which released data from their Phase 2 ORION -1 trial, which caused prodigious intra-day price and volume spikes.
The last trading week was dominated by micro-cap biotech stocks surging, at times by more than 20% on essentially no news. The next six weeks will see a full calendar of binary data events hitting your screens.
The FDA Calendar has been through a spring clean with all events up until and including 1Q 2017 double checked. FDA Calendar binary events from 2Q 2017 onward will be checked for accuracy over the weekend now that most companies have reported 3Q earnings. In excess of 40 Phase 2 and 3 readouts are due this quarter. With less than 30 trading days left in the year we should see plenty of catalysts hitting the wires, in particular in December.
Please find below a selection from the 40+ binary events remaining for 4Q 2016.