Regulatory decisions by the U.S. Food and Drug Administration in December turned out to be mostly positive. Among the treatment options that were greenlighted in the month were two new molecular entities.
Biopharma stocks eked out modest gains in the week ending Dec. 23, with regulatory decisions, clinical readouts and COVID-19 treatment and vaccine developments dictating sentiment.
Biotech stocks reversed course and advanced solidly in the week ending Dec. 17, as an increase in risk aversion pushed investors to buy into defensive stocks. The sector also drew strength from some positive stock-specific news.
Psilocybin-focused mental health care company COMPASS Pathways plc (NASDAQ: CMPS) revealed Friday that it has been selected for addition to the Nasdaq Biotechnology Index (NASDAQ: NBI), effective as of market open on Mon
Biotech stocks closed out the week ending Dec. 10 with modest losses as investors moved money out of defensives and into risky bets amid the broader market rebound.