Summary:
The American Society of Clinical Oncology (ASCO) Annual 2022 Meeting is taking place from June 3-7, 2022
ASCO is an important event for biotech investors because it is the most important annual cancer biomedical conference
Abstract release on May 26, 2022 is a very important date for investors, when associated press releases with updated data can be published too
BPIQ monitors info re: ASCO from smid-cap biopharma companies (smid-caps) to identify those that are presenting clinical data
Table 1 lists details for some of the important smid-cap biopharma clinical updates at ASCO22.
Added 5/31/22: Additional sheet added to our ASCO 2022 Table added that includes info re: over 800 ASCO biotech company presentations
6/6/2022 update: Read our ASCO update post, which has a scorecard of the biggest movers from ASCO
Our BPIQ Pro expanded version of this article and associated ASCO'22 Google Sheet for investors is available to Pro subscribers. (SIGN UP NOW (free trial)).
ASCO 2022
ASCO 2022 is taking place in person from June 3-7, 2022 in Chicago, IL and also virtually again (#ASCO22). ASCO is very important for biotech investors because it is the largest oncology meeting globally and features presentations about cancer research, world-renowned researchers, clinical trial updates, and online discussions. Compared to the Annual Association of Clinical Research (AACR) annual meeting, ASCO presentations include more with clinical trial updates, whereas AACR is more pre-clinical focused. BPIQ monitors info regarding ASCO presentations from smid-cap biopharma companies from many sources to identify for you, those companies and presentations that are clinical trial data updates and those trials that are most likely to be stock movers. We compiled this info in our BPIQ ASCO 2022 Smid-Cap Biopharma Clinical Update Table. We continue to monitor ASCO-related info related to smid-cap bipharma clinical trials to update our ASCO 2022 table.
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Embargo Policy and Important Dates
ASCO 2022 is taking place from June 3-7, 2022, and abstracts will be released on May 26, 2022. The ASCO embargo policy does not allow data that will be presented to be announced before the abstract is released on May 26, at which time a press release can be reported by the company. These press releases may contain more updated information that in the associated abstract**. May 26 is thus a very important date for biotech investors, and as seen in 2021, many of these companies could see large stock price moves upon abstract release and the associated press release. See more about the embargo policy from ASCO 2021 and the subsequent stock changes HERE. Search abstracts HERE.
Companies with clinical presentations
Table 1 (see below) shows smid-cap biopharma companies which are presenting clinical data at ASCO 2022 along with information about the assets. Thus far we have identified 43 smid-cap companies that we believe are presenting clinical data updates at ASCO. The clinical assets being studied in these clinical trials include cancer biologics, such as antibody therapies and cell therapies, cancer vaccines, as well as oral small molecules (11 of 43). At least 32 of these companies appear to be presenting new clinical efficacy data.
We continue to search our database, company press releases, and ASCO titles to determine if the clinical data being presented ASCO 2022 by a company is new, how stocks moved with previous efficacy data from trials, and if presentations will include efficacy data. Those companies with efficacy data are more likely to see larger stock moves. Our BPIQ Pro expanded version of this article includes a link to a Google Sheet with detailed info of over 80 companies presenting clinical updates at ASCO. The table includes information about what data will be presented, prior data for this clinical asset in this indication, associated stock moves, if there is an associated investor event, and if these clinical readouts are BPIQ Suspected Movers to Watch for June 2022. We will continue to update the table as more info becomes available.
Table 1. Some noteworthy smid-cap biopharma presentations at ASCO 2022
Most Noteworthy Presentations
One indicator of a noteworthy clinical update that is more likely to be a stock mover, is if a company holds an investor event on the date of the ASCO presentation. So far (as of 5/13/22) the smid-cap biopharma companies we have identified that are holding investor events on the day of their ASCO presentations are ZYME, MRTX and ACLX. Furthermore, our BPIQ ASCO 2022 Smid-Cap Clinical Updates Table for subscribers identifies presentations that correlate with clinical readouts that we have identified as Big Mover or Suspected Movers to Watch events.
Our associated company, Amp, is currently digging into the details more to confirm, or remove, some of these Big Movers/Movers to Watch designations based on this deeper analysis. Finally, our associated biopharma analysis company, Amp Biotech Research (Amp), will be adding its comments/views to the table as well, in the coming days. Thus, check back regularly as we update this ASCO post and table with more info on these companies. Our intent is that this ASCO information will help you as you decide which companies/presentation to diligence. Remember, ASCO presentations are no different than most catalyst report-outs in that they more of them tend to be seen by investors as negative readouts than positive readouts. Thus, either play them with a bearish stock trade, or try to pick the winners with bullish trades. At Amp, for companies for which we are long-term bulls, in our Run-Up account we plan to bull back some of our positions ahead of the ASCO readouts. Good luck!
Post-Abstract Moves (added 5/28/22)
Abstracts were release on schedule after markets closed on 5/26/22. And as planned and as we notified about, some companies published detailed press releases with more updated data than was provided in their abstracts. Overall, ASCO 2022 companies did about as well as smid-cap bipharma companies overall (using the biotech ETF - XBI as a proxy) on 5/27/22 (XBI +3.83% and ASCO 22 companies +3.78%), and less than the average move for all our ~600 smid-cap biopharma companies in our BPIQ database, which were up 4.35% on 5/27/22. Of course, 5/27/22 was a great day for biopharma stocks. It is noteworthy that 49 ASCO '22 smid-cap companies moved more than XBI on 5/27/22 and 29 companies moved lower than XBI.
As far as top movers on the 1st trading day after abstract release, ONCT (+88%), MRUS (+33%), and ACLX (+21%) led ASCO '22 companies. Interestingly, ONCT is still a tiny microcap with a market cap of ~$75M. The biggest losers were IOVA (-54%), SWTX (-40%), and MRTX (-32%), which interestingly are all over $900M market cap. It is interesting if the ~10 companies with market caps over $1B are removed from the analysis, the less than $1M ASCO companies were up 5.1% on 5/27/22.
Overall, ASCO 2022 will prove to be another important event for cancer biopharma companies. As a reminder, most of the clinical presentations will fail or likely be perceived by inventors in a bearish manner. Thus, if you are a biotech bull betting on positive price movement from some stocks as a result of their ASCO presentation , do your homework and be careful on the size of the investment you make.
New tables since abstract release (added May 31, 2022)
See a full list of ~800 presentations and the almost 80 BPIQ companies presenting at ASCO 2022 in the post-abstract table HERE. This was created for us by Maz. Please thank Maz for his efforts in putting this workbook together. Be sure to follow @Mazeraski on Twitter.
June 6 Update:
Read our Mid-meeting update to see times for today's presentations
Our BPIQ Pro expanded version of this article and the associated master Google Sheet is available to Pro subscribers. (SIGN UP NOW (free trial)).
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Footnotes
* Article originally published 5/13/22
Last updated 6/6/22
**"Once an abstract has been publicly released by ASCO and the embargo has lifted, you may widely distribute a press release containing the full data, including any additional or updated data that will be presented at the meeting even if not included in the abstract itself" (https://conferences.asco.org/am/abstract-policies-embargoes-exceptions)
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