Following the market opening Monday, the Dow traded up 0.22% to 34,977.01 while the NASDAQ climbed 1.53% to 15,727.94. The S&P also rose, gaining 0.92% to 4,637.03.
Fennec Pharmaceuticals Inc., a specialty pharmaceutical company, today announced that it expects to receive a Complete Response Letter (CRL) after the PDUFA target action date of November 27, 2021 from the U.S. Food
Biotech stocks showed a lack of direction in the week ending Nov. 19 before finishing modestly higher. Stocks did not have much meaningful catalysts to react to amid the winding down of the reporting season and ahead of the holiday week.
Fennec Pharmaceuticals (NASDAQ:FENC) reported quarterly losses of $(0.16) per share. This is a 33.33 percent increase over losses of $(0.24) per share from the same period last year.
The loaded Prescription Drug User Fee Act (PDUFA) calendar for October produced mixed outcomes.
PDUFA dates are key binary events for biotech stocks that can move the needle in a big way. These are the dates by which the Food and Drug Administration is required to announce its decision regarding approvability/non-approvability of drugs.
Here's a roundup of top developments in the biotech space over the last 24 hours.
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Scaling The Peaks
(Biotech Stocks Hitting 52-week Highs Sept. 28)
Fennec Pharmaceuticals (NASDAQ:FENC) reported quarterly losses of $(0.15) per share which beat the analyst consensus estimate of $(0.19) by 21.05 percent. This is a 28.57 percent increase over losses of $(0.21) per share
The FDA has accepted for review Fennec Pharmaceuticals Inc’s (NASDAQ:FENC) resubmitted marketing application seeking approval for Pedmark (formulated sodium thiosulfate) to…