Biotech stocks continued to languish for a third straight week. Negative broader market sentiment and company-specific weakness weighed down on the sector.
Pfenex Inc (NYSE: PFNX) received FDA approval for its biosimilar to Amgen, Inc. (NASDAQ: AMGN)'s Forteo, and Australian biotech Clinuvel Pharmaceuticals Ltd (OTC: CLVLY)'s Scenesse to treat erythropoietic protoporphyria was also given the go-ahead by the regulatory agency.
The week also saw the listing of two biotechs following their initial public offerings.
The following are some of the key catalysts for biotech stocks in the upcoming week.