- The American Society of Clinical Oncology annual meeting passed without much of a stir, writes Charley Grant in the WSJ. Naturally, there were exceptions with individual companies, but the biotech sector as a whole barely budged throughout the major conference.
- So what? The S&P Biotechnology Select Industry Index is up 19% in 2017, and there are treatment categories outside of oncology. But, says Grant, the majority of stocks in that index aren't profitable, and are thus dependent on things like ASCO to rev up sentiment. In the bull market of 2013-15, ASCO was enough to send the sector sharply higher.
- With that catalyst not working this year, all biotech may have to look forward to are blockbuster drug launches, and there's not much going on there - just three drugs are set to come to market this year that are expected to top $2B in annual sales by 2022.
- ETFs: IBB, XBI, LABU, BBH, FBT, HQL, PBE, LABD, BBC, BBP, UBIO, ZBIO, LABS
- Now read: 2 Bold Biotech Predictions For The 2nd Half Of 2017
Original article