Biotech Stocks Facing FDA Decision In June 2022

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As another month comes to a close, it's time to take a look back at some of the healthcare sector news that made headlines in May and look ahead to what's in store on the regulatory front in June.

Just when the world was heaving a sigh of relief at the declining number of new COVID-19 cases and deaths since the end of March 2022, a fresh outbreak of monkeypox that began in early May has become the new global concern.

On May 19, Bavarian Nordic A/S (BVNRY.OB) secured a contract with an undisclosed European country to supply its IMVANEX smallpox vaccine in response to the emerging outbreak of monkeypox. Smallpox vaccine appears to be at least 85 percent effective in preventing monkeypox, according to studies.

Hyundai Bioscience, as recently as May 25, announced that it is planning to submit a request for a fast track processing to the FDA for investigational drug CP-COV03, an oral antiviral medicine for the treatment of monkeypox, which it developed as a treatment for COVID-19.

As of May 25, 2022, there were 219 confirmed cases of monkeypox reported from countries where the disease is not considered endemic, including 118 cases in the European Union, according to the European Centre for Disease Prevention and Control.

Now, let's take a look at the stocks awaiting FDA decision in June.

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