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Friday, June 7, 2019

Restoration Robotics updates guidance ahead of merger

Restoration Robotics (NASDAQ:HAIRannounces that its previously announced merger with Venus Concept Ltd. is on track to close next quarter.
Venus’ revenue was $102.6M (+15.2%) in 2018 and $24.6M (+15.1%) last quarter.
2019 revenue guidance for the combined company is $130M – 135M.

Axsome down 3% premarket on delay of narcolepsy data

Axsome Therapeutics (NASDAQ:AXSM) slips 3% premarket on light volume on the heels of its pipeline update that included a revised timeline for a data readout from a Phase 2 clinical trial, CONCERT, evaluating AXS-12 in narcolepsy. Topline results are now expected in H2 instead of this quarter.
Topline data from the ongoing Phase 3 STRIDE-1 study of lead candidate AXS-05 in treatment-resistant major depressive disorder (MDD) should be available in H2.
A Phase 3 study assessing AXS-05 in major depressive disorder (MDD) should launch shortly. Topine data should be available in H2. If all goes well, the company plans to file a U.S. marketing application in 2020.
Topline results from the Phase 2/3 ADVANCE study evaluating AXS-05 for the treatment of agitation in Alzheimer’s patients should be available in H1 2020.
Topline data from the Phase 3 MOMENTUM trial evaluating AXS-07 for the treatment of acute treatment of migraine should be available in H2.
The company says that its current resources should be sufficient to fund operations until at least Q1 2021, adding that it does not foresee another equity financing before the Phase 3 data readouts.

Beyond Meat +24% as investors eye fast-food chain potential

Beyond Meat (NASDAQ:BYND) management stated on the company’s post-earnings conference call that the company continues to plan to primarily invest in current and additional manufacturing facilities, expand R&D and invest in sales/marketing capabilities.
The company also says it doesn’t see any obstacles in working with large fast-food chains in the future in what could be an interesting development for burger chains such as Shake Shack (NYSE:SHAK), McDonald’s (NYSE:MCD), Wendy’s (NASDAQ:WEN) and Sonic (NASDAQ:SONC).
Shares of Beyond Meat are up 24.2% in premarket trading to $124.00 (new post-IPO high)

Bankrupt Achaogen auctions off its antibiotic for a fraction of its worth

Achaogen has just about wrapped up its going-out-of-business sale, with a small group of buyers from around the globe picking up its main antibiotic assets for a song. And they’re just one short telephone auction away from selling their last remaining clinical program.
Bankrupt and running out of cash $AKAO after going $186 million in the red last year, the biotech has now sold off the global rights to Zemdri (plazomicin for multidrug-resistant, gram-negative pathogens) along with its lab equipment for just $16 million. Heritage Global Partners got the lab equipment. Cipla USA got all global rights to Zemdri outside of China, while QiLu Antibiotics Pharmaceutical bagged the royalty-free China rights.
This is an antibiotic that Leerink once confidently predicted would reap $500 million a year in peak sales. In the heady days of spring, 2017, its stock reached a peak price of $27 a share. It’s virtually worthless now. The dramatic fall from market grace came as the FDA rejected the biotech’s pitch to use their antibiotic against bloodstream infections, limiting the OK to drug-resistant urinary tract infections while adding a black box warning on safety.
Once on the market, the analysts found that hospitals already had a favorite brand to turn to, and little Achaogen made little headway on its own. In foundering, the biotech offered one of the more recent cautionary examples of the hazards of antibiotic development. In a field dominated by generics, startups are finding their way blocked by established products, with little prospect for a turnaround, even though the threat of drug-resistant bacteria grows with every passing year.
Investors have not ignored the implications for the rest of the tiny operators in the field, as most of Big Pharma shuns the space.
Anyone interested in buying Achaogen’s last asset — the C-Scape program — can dial in for their last sale on Monday, June 10.
Their last 10-K notes that C-Scape is being developed for “cUTI, including pyelonephritis, caused by ESBL-producing Enterobacteriaceae. C-Scape is a b-lactam/b-lactamase inhibitor combination comprised of ceftibuten, an approved third generation cephalosporin, and clavulanate, an approved b-lactamase inhibitor. The FDA awarded Qualified Infectious Disease Product (QIDP) status to C-Scape for the treatment of cUTI in 2017. QIDP status provides incentives for the development of new antibiotics, including priority review and an extension by an additional five years of any existing non-patent market exclusivity the product may be awarded upon approval. Our C-Scape program is funded in part by a contract with BARDA for up to $18.0 million, of which $12.0 million is committed.”

New insights into cell longevity could boost research in age-related diseases

It’s a well-known fact in the scientific world that neurons can survive for as long as we live. But what about the other cells of the body?
A team of researchers at the Salk Institute set out to find the answer to that question, in the hopes of gaining insights that might improve the search for new cures for diabetes, heart disease and other age-related disorders. What they found surprised them.
The team examined tissues from the brains, livers and pancreases of mice and discovered very old cells—some of which had lifespans rivaling those of neurons. They published their findings in the journal Cell Metabolism.
“Our goal was to visualize the age of cells in different tissues,” said lead author Rafael Arrojo e Drigo, Ph.D., a staff scientist at Salk, in a video interview (see below). The researchers started with neurons and then examined cells from the liver and pancreas.
The team used advanced imaging and electron isotope labeling to quantify turnover among cells and proteins in the organs they studied. The Salk researchers worked with scientists at the University of California, San Diego, to develop new microscopy methods so they could properly pinpoint the age of each cell they imaged, according to a statement. Once they established a baseline from neurons in the brain, they compared their findings to the other cell types.

The liver can regenerate fresh tissue, so the Salk team was surprised to find that the majority of cells there were as old as neurons. They also discovered some long-lived cells lining blood vessels—another unexpected finding.
The pancreas is largely a mystery because it contains several cell types with an unknown capacity for longevity. But the researchers found old cells there, too. “Our study now suggests that most cells in the liver and in the pancreas are as old as the brain,” Arrojo e Drigo said.
This mix of old and new cells, which the Salk team referred to as “age mosaicism,” could shed light on how cells maintain and repair themselves throughout adulthood. That could spark ideas for new ways to prevent or treat diseases like diabetes, the researchers said.
For example, the Salk team discovered that some insulin-producing beta cells in the pancreas continued to replicate, constantly producing young cells, while others did not divide but lived as long as neurons. They hope to learn in future studies how these differences contribute to type 2 diabetes.
When the researchers selected a variety of long-lived cells to study further, they found proteins within them that also displayed age mosaicism. Some neurons and beta cells from the pancreas had both very young and very old proteins, while the liver cells had no long-lived proteins.
The next step for the Salk team is to probe the lifespans of nucleic acids and lipids. Their ultimate goal is to quantify the total effect of age mosaicism on not just diabetes, but also cardiovascular disease and dementia.
“We’d like to understand how those very long-lived cells age, what kind of molecular changes drive them sometimes into pathological states,” said Hartin Hetzer, Ph.D., chief scientific officer of the Salk Institute in the video. “By discovering and understanding those mechanisms and those processes, we also hope to either delay or maybe even prevent some of the age-related changes that we observe in different tissues.”

Mirati cut to Neutral from Buy by Guggenheim

https://www.benzinga.com/stock/MRTX/ratings

X4 Pharmaceuticals started at Buy by Stifel

Target $27