Zafgen announced results from three nonclinical, investigational new drug, or IND, -enabling studies of ZGN-1258 to be presented at the Foundation for Prader-Willi Research, or FPWR. ZGN-1258 is Zafgen’s second-generation, novel investigational MetAP2 inhibitor for the treatment of rare metabolic disorders, including Prader-Willi syndrome, or PWS, designed to decrease hyperphagia, change the way the body metabolizes fat, and reduce fat mass. Together, these studies demonstrate nonclinical efficacy and safety for ZGN-1258 and support further development. In one poster, the effects of ZGN-1258 are characterized in mouse models of hyperphagia and obesity. In a second poster, in three mouse models that share features with PWS, ZGN-1258 demonstrates improvement in behavioral manifestations commonly observed in PWS, including low physical activity, anxiety and obsessive-compulsive behaviors. A third poster shows a comparison of the effects of ZGN-1258 and Zafgen’s first generation MetAP2 inhibitor on safety measures, including measures of thrombotic risk, demonstrating a highly differentiated profile for ZGN-1258 on endothelial cell effects.
Thursday, October 4, 2018
Walgreens steps up beauty emphasis with Birchbox partnership, CNBC reports
Walgreens is stepping up its emphasis on beauty with a new partnership with Birchbox, CNBC reports. Walgreens, which will take a minority stake in the digital beauty subscription company, will start a pilot program with Birchbox in 11 Walgreens stores Chicago, Dallas, Los Angeles, Miami, Minneapolis and New York City, as well as an online partnership, with Walgreens adding a Birchbox section to its website, according to the report. “Beauty is a very important category for Walgreens, and we’ve been doing a huge amount of work to get ourselves ready for a partnership like this to take us to the next step,” said Lauren Brindley, Walgreens’ group vice president of beauty and personal care
Allergan’s CoolSculpting cleared by FDA to treat area below jawline
Allergan’s CoolSculpting cleared by FDA to treat area below jawline Allergan’s treatment received FDA clearance to treat the submandibular area. In addition, the FDA clearance was expanded to include patients with a BMI of up to 46.2 when treating the submental and submandibular areas. This recent clearance makes CoolSculpting the first and only nonsurgical fat reduction treatment to contour the area below the jawline and improve the appearance of lax tissue in conjunction with submental fat treatments.
Arrowhead gains on news of $3.7 billion license agreement with Janssen
Arrowhead Pharmaceutics Inc. stock ARWR, -8.89% surged 19% in premarket trade Thursday, after the company said it has entered a $3.7 billion license and cooperation agreement with Janssen Pharmaceuticals Inc. to develop and commercialize its ARO-HBV treatment for chronic hepatitis B. As part of the deal, Arrowhead will receive $175 million upon close and Janssen parent Johnson & Johnson Innovation JJDC Inc., a unit of Johnson & Johnson JNJ, -0.62% will buy a $75 million stake priced at $23 a share of Arrowhead common stock. Arrowhead will be eligible to receive up to $1.6 billion in milestone payments and another roughly $1.9 billion in option and milestone payments for reaching three additional targets. The company will also be eligible for tiered royalties on product sales. Janssen will have an exclusive license on the ARO-HBV program, a subcutaneously administered RNAi therapeutic candidate aimed at treating hepatitis B. The deal is expected to close in the fourth quarter. Arrowhead shares have gained 404% in 2018, while the S&P 500 SPX, -0.59% has gained 9%.
Sarepta micro-dystrophin gene therapy data impressive, says JMP Securities
JMP Securities analyst Liisa Bayko noted that Sarepta’s gene therapy showed robust improvement in functional endpoints in the latest data from the program, which she sees “reinforcing the leapfrog this platform can offer” in Duchenne muscular dystrophy. The safety also still looks acceptable, added Bayko, who reiterates her Outperform rating and $270 price target on Sarepta shares.
Ophthotech completes recruitment for Phase 2b of macular degeneration trial
Ophthotech announced completion of patient recruitment for its Phase 2b clinical trial of Zimura, the company’s complement factor C5 inhibitor, monotherapy in patients with geographic atrophy secondary to dry age-related macular degeneration, or AMD. Complement factor C5 is a central component of the complement cascade and is believed to be involved in the development and progression of AMD. A total of 286 patients have been enrolled into this randomized, double-masked, sham controlled multi-center clinical trial. This clinical trial is designed to assess the safety and efficacy of various Zimura dosing regimens over 12 months. Patients will continue to be treated and monitored until month 18.
AMN Healthcare initiated at Berenberg
AMN Healthcare initiated with a Buy at Berenberg. Berenberg analyst Sam England initiated AMN Healthcare with a Buy and $70 price target. England believes the company’s transition into a full-service workforce solutions provider from a temporary staffing of nurses and doctors will lead to a stickier customer base, higher growth, and increased margins.
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