Biotech investors live and die by the binary news events generated by the drugmakers they invest in. Heron Therapeutics (HRTX -0.86%), for instance, is awaiting a decision from the Food and Drug Administration about its candidate HTX-011 for use in post-operative pain. Likewise, Alkermes (ALKS 0.08%) expects an FDA decision on its schizophrenia and bipolar treatment ALKS3831 on or before June 1.

In this video from Motley Fool Live, recorded on March 29, contributors Brian Orelli and Keith Speights discuss the best ways to keep abreast of news that biotech companies release. They discuss websites that aggregate that information, but investors with a small number of biotechs in their portfolios might be best off just keeping abreast of what those companies are up to through their websites and SEC disclosures.

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Brian Orelli: RA asks: "What is the best way to research biotech stocks to find important dates or trial news?"

Keith Speights: That's a great question. There's a website that I use. Brian, if you have an answer while I'm looking for this website. [laughs]

Orelli: Yeah, go ahead and find the website. Honestly, mostly what I do is I read the company press releases, and that has all the information that you need. Occasionally you have to find it in an SEC document, but usually, the companies are pretty open about putting it in their press releases, or, at the very least, saying it on their conference calls. So look for the transcripts of the conference calls.

There are plenty of websites that Keith is going to bring up that aggregate this information, but they're all getting that information just from the individual press releases. If you've just got a couple of biotechs, the easiest way is just to look at the press releases.

Speights: RA, I will share a link to the website that I use myself. It's an FDA calendar that has. It's pretty good. It has the upcoming FDA decisions and PDUFA dates and clinical study readouts, that kind of thing. I've found that it's useful, so I'll share that.