Search This Blog

Monday, November 4, 2019

FDA Action Alert: Lipocine, Ocular, Agile and Aquestive

There are four PDUFA dates the U.S. Food and Drug Administration (FDA) has scheduled for the rest of November to decide on drug approvals. Here’s a look.
Lipocine’s Tlando as Testosterone Replacement Therapy
Lipocine, based in Salt Lake City, Utah, has a target action date of November 9, 2019 for its New Drug Application (NDA) for Tlando as testosterone replacement therapy (TRT) in adult males for conditions associated with a deficiency of endogenous testosterone, which is also called hypogonadism. Tlando is designed to be a fixed dose oral TRT.
The company notes that in 2018, about 7.2 million prescriptions were written for non-oral TRT. A non-invasive oral TRT has benefits over topical formulations because there is no risk of accidental testosterone transference.
Ocular Therapeutix’ Dextenza for Ocular Inflammation After Eye Surgery
Bedford, Massachusetts-based Ocular Therapeutix has a target action date of November 10 for its supplemental NDA for Dextenza (dexamethasone ophthalmic insert) to include ocular inflammation following ophthalmic surgery in its label. Dextenza was approved by the FDA as an intracanalicular insert delivering dexamethasone for post-surgical ocular pain for up to 30 days with a single dose. Dextenza is a resorbable, preservative-free ophthalmic insert placed in the lower lacrimal punctum and into the canaliculus of the eye.
The sNDA is based on two Phase III trials in cataract surgery patients that showed statistical significance compared to the vehicle control for absence of ocular pain and absence of inflammation.
On October 1, Dextenza was granted a permanent J-code (J1096) by the Healthcare Common Procedure Coding System (HCPCS), replacing the previously issued C-code (C9048). J-codes are a subset of HCPCS Level II codes used to primarily identify injectable drugs.
Agile Therapeutics’ Twirla Contraceptive Patch
Princeton, New Jersey-based Agile Therapeutics has a target action date of November 16 for its NDA resubmission for Twirla (AG200-15), an investigational low-dose combined hormonal contraceptive patch. The company received a Complete Response Letter (CRL) from the FDA in December 2017. The CRL noted quality control adhesion test method deficiencies, problems with a third-party manufacturer, and issues with the in vivo adhesion properties of Twirla and the SECURE clinical trial.
The resubmitted NDA included data from a comparative wear study conducted at the request of the FDA, more information on the manufacturing process and additional analyses.
On October 30, the FDA’s Bone, Reproductive and Urologic Drugs Advisory Committee (BRUDAC) met to discuss the NDA and voted 14 to one, with one abstention, that the benefits of Twirla outweigh the risks to support approval.
Aquestive Therapeutics’ Exservan for ALS
Aquestive Therapeutics, based in Warren, New Jersey, has a target action date of November 30 for its NDA for Exservan (riluzole oral film (ROF)) for amyotrophic lateral sclerosis (ALS). The product received FDA orphan drug designation in January 2018. The company’s focus is to collaborate with pharma partners to bring new molecules to market using its proprietary, best-in-class technologies, such as PharmFilm.
PharmFilm allows for sublingual, lingual or buccal drug delivery. It requires no mixing, swallowing or chewing.
“We are pleased the FDA has accepted our NDA for Exservan, given the needs ALS patients have for treatment advances,” said Daniel Barber, Aquestive’s chief strategy and development officer, in April when the FDA accepted the NDA. “ALS, though relatively rare, represents a considerable economic and social burden in the U.S. and globally. Oral films offer great promise to patients who face difficulty swallowing or administering traditional forms of medication.”

Healthineers forecasts growth on demand for hospital equipment

Siemens Healthineers said it expected strong growth to continue next year, as the German maker of medical imaging machines and diagnostic equipment reported better than expected fourth-quarter sales on Monday.

Healthineers’ shares jumped 8% in early morning trade to its highest level on record.
The health technology company said net profit increased 36% in the July-September period, to 507 million euros ($566.1 million), as comparable sales rose 8%.
This easily beat analysts’ expectations of a net profit of 483 million euros and 5.5% sales growth, expressed in a company-compiled poll.
“Thanks to a strong year-end finish, we clearly exceeded our growth outlook in fiscal year 2019,” Chief Executive Bernd Montag said.
Healthineers and its Dutch rival Philips are hoping to cash in on an ageing, increasingly health-conscious population by selling pricey medical equipment, such as MRI scanners and diagnostics machines, to hospitals and clinics.
Philips last week also reported strong growth over the past quarter on increasing global sales of its medical machines, but had to lower its 2019 profit margin target due to trade tariffs and poor results at its Connected Care division.
Healthineers’ strong fourth quarter pushed full-year sales growth up to 6%, above the company’s earlier indications for 6% to 5%. It now expects comparable sales to grow 5% to 6% next year, while adjusted earnings per share are seen rising 6% to 12%.
Growth was driven last year by strong sales at its imaging division, which sells hospital equipment such as scanners, but its diagnostics business continued to lag.
The health tech firm is pinning its hopes on new blood and urine testing kit to turn around the division, which lags market leader Roche, but lengthy installation times at large and complex laboratories have dragged down profit.
Higher costs for its Atellica blood-testing machines weighed on the division, leaving the group’s 2019 profit margin just below the lower end of its target range, at 17.3%.
“Atellica is the right product, but clearly the roll-out did not work out as planned”, said Montag, who took personally took responsibility for the diagnostics business in July.
“We have learned our lessons and took the right conclusions. We see diagnostics as a key value driver [but] to harvest, you have to place the instrument first.”
Shipments of 1,820 Atellica machines in the past year were in line with the company’s forecast, which it lowered from a previous 2,200-2,500 target in July.

Aveo down 44% premarket on struggles with Fotivda in kidney cancer

AVEO Pharmaceuticals (NASDAQ:AVEO) slumps 44% premarket on robust volume in reaction to its update on Fotivda (tivozanib) in patients with highly treatment-resistant renal cell carcinoma (RCC).
Citing the totality of the data, the FDA recommended that it not submit a marketing application at this time, remaining “concerned” with the overall survival (OS) data in the Phase 3 TIVO-3 study, specifically, that it may be worse than the comparator drug, Bayer’s Nexavar (sorafenib). The second interim OS analysis, conducted in August, showed a hazard ratio of 0.99 at year 2, meaning that treatment with tivozanib reduced the risk of death by only 1% compared to sorafenib.
The agency informed the company that if it decides to file an NDA, it should include an updated statistical analysis plan with updated OS data, adding that an advisory committee review will be necessary.
Undeterred, the company plans to narrow the proposed indication to to relapsed/refractory RCC and file an NDA in Q1 2020. If the final OS analysis, expected to be reported in June 2020, shows a hazard ratio above 1.00, then it will withdraw the application.

Premarket analyst action, Nov. 4

Allogene Therapeutics (NASDAQ:ALLO) initiated with Buy rating and $36 (24% upside) price target at Canaccord Genuity.
BioNTech (NASDAQ:BNTX) initiated with Buy rating and $21 (27% upside) price target at BofA Merrill Lynch, Buy rating and $22 target at Canaccord, Buy rating and $20 target at Kempen & Company, Buy rating and $21 target at UBS, Outperform and $20 target at SVB Leerink and Overweight rating and $23 target at JPMorgan. Shares up 2% premarket.
TCR2 Therapeutics (NASDAQ:TCRR) initiated with Buy rating and $19 (37% upside) price target at H.C. Wainwright.
Bluebird bio (NASDAQ:BLUE) upgraded to Outperform with a $124 (50% upside) price target at Wedbush. Shares up 3% premarket.

FDA OKs RedHill’s Talicia

The FDA approves RedHill Biopharma’s (NASDAQ:RDHL) Talicia (omeprazole magnesium, amoxicillin and rifabutin) delayed-release capsules 10 mg/250 mg/12.5 mg for the treatment of Helicobacter pylori (H. pylori) infection in adults.
Commercial launch will commence in Q1 2020.
The company will host an Analyst & Investor Day on November 22 to discuss the launch.
Shares up 17% premarket on light volume.

Agenus EPS beats by $0.05, beats on revenue

Agenus (NASDAQ:AGEN): Q3 GAAP EPS of -$0.33 beats by $0.05.
Revenue of $19.94M (+55.8% Y/Y) beats by $4.34M.

Karyopharm Therapeutics EPS beats by $0.17, beats on revenue

Karyopharm Therapeutics (NASDAQ:KPTI): Q3 GAAP EPS of -$0.67 beats by $0.17.
Revenue of $13.15M (+5379.2% Y/Y) beats by $11.35M.