5 big biotech losers from JPMorgan’s massive healthcare conference
The J.P. Morgan Healthcare Conference in San Francisco is a chance for healthcare companies to start the year off right.
Executives give high-stakes presentations to investors — and then meet with them privately — to try to convince them to invest in their companies. Often, companies will save up news to announce at the event, like clinical trial results that show a new drug is working, or good financial news.
But sometimes, the news is disappointing. That can send stocks plummeting and turn off investors. Or it can create openings for savvy investors to bet on companies at a cheap price.
These are the five biotech stocks that had big tumbles during the conference this week.
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Share drop: -8.2% on January 8
What happened: Alder is working on a type of migraine-prevention drug known as a CGRP inhibitor. The company presented at the JPMorgan conference on January 8. You can see the company’s presentation here.
Share drop: -10% on January 8
What happened: Dova sells a treatment for the blood disease known as thrombocytopenia. The company presented at the J.P. Morgan Healthcare Conference on January 8, and discussed additional potential markets for its treament. You can see the presentation here.
Share drop: -7.1% on January 10
What happened: Crinetics is working on treatments for endocrine diseases and tumors. The company presented at the J.P. Morgan Healthcare Conference on January 9, after the close of regular trading. You can see Crinetics’s slides from the event here.