Biotech stocks closed the week ended May 22 higher, with stray clinical readouts and COVID-19 drug- and vaccine-related news moving stocks in the sector.

Surface Oncology Inc (NASDAQ: SURF) was one of the biggest advancers of the week after it announced an oncology partnership with Merck & Co., Inc. (NYSE: MRK).

Sorrento Therapeutics Inc (NASDAQ: SRNE), which announced on May 15 thediscovery of100% inhibition of SARS-CoV-2, was in the news yet again this week as short sellers clamped down on the biotech, questioning the veracity of its claims.

AstraZeneca plc (NYSE: AZN) and Merck received the FDA nod for Lynparza to treat metastatic castration-resistant prostate cancerwith homologous recombination repair mutations.

The following are key catalysts forthe unfolding week:

2020 International Society of Cell and Gene Therapy, or ISCT, annual meeting: May 28-29.American Society of Clinical Oncologists 2020 Virtual Scientific Program: May 29-31.American Society for Clinical Pathology, or ASCP, 2020 Annual Meeting (virtual conference): May 29-30.

Regeneron Pharmaceuticals Inc (NASDAQ: REGN) and Sanofi SA (NASDAQ: SNY) await the FDA verdict on their sBLA for Dupixent in pediatric eczema. (Tuesday)

Mersana Therapeutics Inc (NASDAQ: MRSN) will present interim data from the ongoing XMT-1536 Phase 1 dose expansion in patients with ovarian cancer and non-small cell lung adenocarcinoma.

See also: These 6 Coronavirus Vaccine Candidates Are The Likeliest To Succeed, Says Morgan Stanley

Friday

Mesoblast limited (NASDAQ: MESO): oral presentation of results using its allogeneic mesenchymal stem cell product candidate remestemcel-L in patients with inflammatory lung disease

Karuna Therapeutics Inc (NASDAQ: KRTX) will present additional data from the Phase 2 clinical trial of KarXT for the treatment of acute psychosis in patients with schizophrenia.

Wednesday

Thursday

Lyra Therapeutics Inc (NASDAQ: LYRA)

Related Link: The Daily Biotech Pulse: FDA Nod For Aquestive, Tetraphase M&A Plot Thickens, Amarin's Vascepa In COVID Fray

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The Week Ahead In Biotech: ASCO Presentations In The Spotlight - Benzinga