Piper Jaffray analyst Edward Tenthoff sees buying opportunities following the recent selloff in the Biotech sector. While the analyst expects a challenging year in 2016, he sees outperformance from select names with value creating catalysts. As such, Tenthoff recommends using the recent selloff to buy shares of Vertex (VRTX), Alnylam (ALNY), Novavax (NVAX), Sarepta (SRPT), Celyad (CYAD), Vitae Pharmaceuticals (VTAE) and Medgenics (MDGN).

The World Health Organization's Technical Advisory Group on COVID-19 Vaccine Composition recommended the use of a monovalent JN.1 lineage COVID-19 vaccine as one approach to address the ongoing SARS-CoV-2 virus evolution, which is expected to lead to circulation of additional JN.1 descendant strains, Novavax stated. Novavax plans to be ready to deliver our JN.1 protein-based non-mRNA COVID-19 vaccine globally this fall. We have been developing and manufacturing this vaccine candidate at risk and are well positioned for the upcoming vaccination season, the company said. Reference Link

Vertex Pharmaceuticals announced that the European Commission has granted approval for the label expansion of KALYDECO for the treatment of infants down to 1 month of age with cystic fibrosis who have one of the following mutations in the cystic fibrosis transmembrane conductance regulator gene: R117H, G551D, G1244E, G1349D, G178R, G551S, S1251N, S1255P, S549N or S549R. As a result of existing access agreements in Austria, Czech Republic, Denmark, Ireland, Norway, Sweden, and The Netherlands, eligible patients will have access to the expanded indication of KALYDECO shortly following regulatory approval by the European Commission. Vertex will continue to work with reimbursement authorities across the European Union to ensure access for all other eligible patients. In the U.K., following MHRA approval at the end of 2023, and as a result of the existing reimbursement agreement between Vertex and the National Health Service, eligible infants ages 1 month and older in the U.K. have access to this expanded indication for KALYDECO.