Biotech Stock Roundup: Galapagos & Hookipa Surge, AMGN Shelves Alzheimer's Study
Zacks Investment Research | Jul 16, 2019 10:06PM ET
It was a busy week for the biotech sector, which saw collaborations and pipeline updates from quite a few companies before the earnings season. Galapagos (NASDAQ:GLPG) surged on a $5.1-billion deal with biotech major Gilead Sciences, Inc. (NASDAQ:GILD) , while Hookipa (NASDAQ:HOOK) soared on FDA clearance of its IND. However, Amgen (NASDAQ:AMGN) faced yet another setback in its Alzheimer’s study.
Recap of the Week’s Top Stories:
Gilead Collaborates With Galapagos for $5.1 Billion: Gilead Sciences, Inc. expand the NDA for ALKS 3831 to include the treatment of bipolar I disorder in addition to the treatment for schizophrenia, following a pre-new drug application (NDA) meeting with the FDA. The NDA for ALKS 3831, which is to be submitted in the fourth quarter of 2019, will include data from the completed ENLIGHTEN clinical development program in patients with schizophrenia and pharmacokinetic (PK) bridging data, comparing ALKS 3831 with Zyprexa.
Performance
Medical - Biomedical and Genetics Industry 5YR % Return
Biotech Stock Roundup: Vertex (NASDAQ:VRTX), AMAG Drugs Get FDA Nod, Conatus Study Fails & More )
What's Next in Biotech?
Stay tuned for more pipeline and regulatory updates.
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