The Week Ahead In Biotech: Novo Nordisk And Merck Await FDA Rulings, 2 IPOs On Deck

Biotech stocks rebounded in last week after declining modestly in the previous week.

Some of the drugs that cleared the FDA hurdle this week include Ardelyx Inc (NASDAQ: ARDX)'s constipation drug Ibsrela; South African drugmaker Apsen Pharmacare's hydroxyprogesterone caproate, indicated to prevent preterm birth in pregnant women; and GlaxoSmithKline plc (NYSE: GSK)'s Nucala for treating severe eosinophilic asthma in children, ages 8-11 years.

The week turned out to be a disappointing one for a few nano- and micro-cap stocks, which reported negative clinical trial readouts. Tocagen Inc (NASDAQ: TOCA) tumbled about 78% after its brain cancer drug failed to ace a late-stage study and Ritter Pharmaceuticals Inc (NASDAQ: RTTR)'s pipeline asset to treat lactose intolerance also stumbled in a late-stage study, sending its shares to a record low.

Here are the key catalysts a biotech investor needs to focus on for the upcoming week.