Moderna Vaccine And Roche, Revance, Rhythm, Liquidia FDA Updates

Biotech stocks came under pressure in the week ended Nov. 20, reversing course from the previous week. The sector started the week on a strong note, thanks to positive vaccine data reported by Moderna Inc (MRNA).

The Week Ahead In Biotech: Moderna Vaccine And Roche, Revance, Rhythm, Liquidia FDA Updates

The momentum faltered through the week after the broader market came under pressure amid fresh COVID-19 restrictions.

Earnings news flow slowed considerably. On the regulatory front, Sanofi SA (SNY)was handed a complete response letter for its sutimlimab biologics license application. "The CRL refers to certain deficiencies identified by the agency during a pre-license inspection of a third-party facility responsible for manufacturing," the company said in a release. Sutimlimab is an investigational monoclonal antibody for the treatment of hemolysis in adults with cold agglutinin disease. Alkermes Plc  also faced a rejection, with the FDA turning down the regulatory application for its schizophrenia drug.

Meanwhile, Eli Lilly And Co (LLY) received FDA approval for the emergency use of its in-licensed arthritis drug to treat COVID-19. The FDA also approved the first at-home COVID-19 diagnostic test during the week.

Notable news of the week included the decision by Pfizer Inc. (PFE) and BioNTech SE – ADR (BNTX) to file for emergency use authorization Friday. This increases the possibility of limited approval coming before the year end.

Conferences

Piper Sandler 32nd Annual Virtual Healthcare Conference: scheduled for Dec. 1-3; pre-recorded "fireside chat" by participating companies will be made available from Monday (Nov. 23).

PDUFA Dates

The FDA is scheduled to rule on Roche Holdings AG's (RHHBY) two sNDAs for its next-gen flu medication Xofluza. The company is seeking approval for an additional formulation of Xofluza — oral suspension granules for people with influenza who are age one or older — and another for post-exposure prophylaxis. (Monday)

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