The Omicron variant concerns were front and center in the markets in the week ended Dec. 3, and biotech stocks did not escape the brunt of selling in the wake of the negative development. The sector recorded weekly losses, reversing course from the previous week’s advance.
Regulatory decisions scheduled for the week turned in mixed outcomes. VBI Vaccines Inc. and Merck & Co. Inc. received greenlights from the FDA, the former for its PreHevbrio, a preventative treatment for hepatitis B virus infection, and latter for an expanded label for its cancer drug Keytruda.
