Editors' pick: A prior version of this story incorrectly stated the original publication date was Jan. 21. The correct, original publication date was Jan. 19.
There is no single remedy to the biotech bear market of 2016.
Biotech stocks are buried in a deep hole. To climb out, companies will have to generate some positive news. The sentiment in the sector right now is grim, so someone better start reminding investors why they (used to) love biotech stocks.
I compiled a list of imminent biotech events, which if positive, could help trigger a sector rebound.
- Celldex Therapeutics (CLDX) : The second interim analysis of the phase III "Act IV" study of rindopepimut in newly diagnosed glioblastoma is expected in the first quarter.
- Alkermes (ALKS) : Results from the first of several phase III studies of ALKS 5461 in treatment-resistant depression are expected by the end of January.
- Sarepta Therapeutics (SRPT) : The FDA advisory committee reviewing the Duchenne muscular dystrophy drug eteplirsen is scheduled for Friday, Jan. 22.
- GW Pharmaceuticals (GWPH) : Results from the phase III study of epidiolex in two forms of severe epilepsy -- Dravet syndrome and Lennox-Gastaut Syndrome -- are expected in March.
- Gilead Sciences (GILD) : Investors will be watching the Feb. 2, fourth-quarter earnings report very closely. The consensus fourth-quarter estimate for global hepatitis C sales is $4.5 billion, down from reported sales of $4.8 billion in the third quarter.
Gilead is on track to record approximately $18.7 billion in hepatitis C sales in 2015, but investors are more focused on 2016 sales, where the current consensus estimate stands at $17.1 billion.
Said another way, investors believe Gilead has already reached peak hepatitis C sales. Gilead usually offers conservative guidance on total product sales for the coming year in its February earnings announcement. Current consensus for total product sales in 2016 is approximately $31 billion.
- Merck (MRK) : The FDA is expected to announce an approval decision on Merck's first hepatitis C combination therapy on Jan. 28. If approved (widely expected) the big question will be how Merck prices the new hepatitis C therapy and what impact it will have, if any, on Gilead's dominant market share.
- Biogen (BIIB) : Fourth-quarter earnings will be announced on Jan. 27. Investors are hoping for stabilized U.S. Tecfidera sales of approximately $744 million, which would be down slightly from the third quarter. For guidance, Biogen is expected to forecast single-digit revenue growth (6-7% over 2015) and adjusted earnings of $18.60 per share, or 12% year-over-year growth.
- Amgen (AMGN) : Results from the phase III study of romosozumab in osteoporosis are expected in the first quarter. Romosozumab is the anti-sclerostin antibody designed to build bone tissue.