The contrast between the green shoots in the biotech / pharma sector compared to the deteriorating broader economy became more apparent as Q3 drew to a close.
Upcoming Q3 earnings in a few weeks will be the next major data point to confirm the health of the sector.
September index performance:
Novo Nordisk (NOVO) acquired Forma Therapeutics (FMTX)
Merger of Sesen Bio (SESN) and Carisma Thera (private)
GSK PLC license agreement of Spero Thera oral antibiotic tebipenem
Myovant Sciences (MYOV) received a non-binding proposal to acquire Sumitomo Pharma for $2.5B
Astrazeneca (AZN) purchases Logic Thera for $70M
Amylyx Pharma had RELYVRIO drug approved by FDA in ALS treatment
Bristol Myers Squibb had oral TYK2 inhibitor treatment approved
Regeneron Pharma shared positive clinical data Eylea therapy for diabetic macular degeneration patients
Gilead Sciences posted strong results for disclosure of survival results for Trodelvy with breast cancer patients
Ideaya Biosciences reported positive data for Phase 2 trial in metastatic uveal melanoma
Akero Thera shared favorable update from 2B HARMONY trial
Eisai & Biogen announced positive results from late stage Alzheimer trial release
Rubius Thera announced a 75% headcount reduction, sale of their manufacturing facility and other cost saving measures
Horizon Thera announced a $500M share buyback
Johnson & Johnson announced a $5B share buyback program
