Despite the often dismal mood over the weekend, the Asco conference provided rich pickings for some biotech investors.
Unveiled abstracts from Asco lift the stock of several biotechs, which will now be under pressure not to disappoint at the conference next week.
Gilead opts in at long last, and that’s more than many might have been expecting.
Leap and Innate were clear winners on the stock market during the medical meeting, while Astrazeneca’s strong performance stands out among the large caps.
Two new immuno-oncology mechanisms post encouraging data, giving a boost to small developers including Innate and Corvus.
As data non-disclosure prompts sellside guesswork one indisputable fact stands out: Gilead has not opted in to Arcus’s domvanalimab.
PDS and Spectrum rise, while Black Diamond, Alpine, Harpoon and Macrogenics disappoint, and others ride on big pharma’s coattails.
A $4.9bn buyout of Forty Seven means that Gilead remains focused on oncology, though cell therapy bulls are none the wiser.