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Friday, December 6, 2019

FDA places partial clinical hold on studies of Ipsen’s palovarotene

The FDA has instituted a partial clinical hold on four studies evaluating Ipsen’s (OTCPK:IPSEY) palovarotene due to a potential safety signal in patients under the age of 14. Specifically, there have been reports of early growth plate closure in patients with fibrodysplasia ossificans progressiva (FOP), a rare disorder characterized by the gradual replacement of tendons and ligaments with bone, who were treated with the RARγ agonist.
The affected trials are two Phase 2 studies in FOP (PVO-1A-204 and PVO-1A-202), one Phase 2 in osteochondroma (PVO-2A-201) and one Phase 3 in FOP.
Treatment of patients in the osteochondroma study will be suspended since it primarily involves children up to the age of 14.
Participants in the FOP studies older than 14 will continue receiving treatment.
Recruitment of new patients below the age of 14 will be suspended in all four trials.
Palovarotene is the lead drug developed at Clementia Pharmaceuticals, acquired by Ipsen in April for up to $1.3B.

Analyst action, Dec. 6

Amedisys (NASDAQ:AMED) initiated with Market Perform rating and $170 (3% upside) price target at BMO.
Athenex (NASDAQ:ATNX) initiated with Buy rating and $28 (70% upside) price target at SunTrust.
Gossamer Bio (NASDAQ:GOSS) initiated with Overweight rating and $34 (38% upside) price target at Cantor Fitzgerald.
Odonate Therapeutics (NASDAQ:ODT) initiated with Sell rating and $26 (22% downside risk) price target at Goldman Sachs.
Puma Biotechnology (NASDAQ:PBYI) initiated with Buy rating and $15 (102% upside) price target at H.C. Wainwright. Shares up 6% premarket.
Sierra Oncology (NASDAQ:SRRA) initiated with Outperform rating and $1.20 (213% upside) price target at Oppenheimer. Shares up 30% premarket.
Epizyme (NASDAQ:EPZM) upgraded to Overweight with a $22 (44% upside) price target at Morgan Stanley.
HCA Healthcare (NYSE:HCA) upgraded to Buy with a $160 (14% upside) price target at BofA Merrill Lynch.
Sage Therapeutics (NASDAQ:SAGE) upgraded to Market Perform at SVB Leerink. Shares up 2% premarket.
Anthem (NYSE:ANTM) downgraded to Neutral with a $330 (15% upside) price target at BofAML.
Teladoc (NYSE:TDOC) downgraded to Hold with an $80 (1% upside) price target at Jefferies. Shares down 2% premarket.

Biohaven up on continuation of troriluzole study in Alzheimer's

Based on a futility analysis by the independent Data Safety Monitoring Board, the ongoing Phase 2/3 clinical trial evaluating Biohaven Pharmaceuticals’ (NYSE:BHVN) troriluzole in Alzheimer’s disease patients will continue as planned.
The primary endpoints are the change from baseline in two AD scales, ADAS-Cog 11 and CDR-Sum of boxes, at week 48 compared to placebo. The estimated completion date is December 2020.
On another note, the USPTO has issued a new composition of matter patent covering troriluzole with an expiration date of February 26, 2036.

Novartis developing 25+ blockbusters – R&D Day

At its R&D Day in London yesterday, Novartis (NYSE:NVSdetailed its development efforts. Key points:
25+ potential blockbusters in development, 16 advanced platform therapies and 160+ projects in the clinic (500+ clinical trials).
80+ regulatory submissions expected 2020 – 2022.
Key filings expected in 2020: alpelisib for PROS, AVSX-101 for SMA Type 2/3, Entresto for HFpEF, fevipiprant for asthma, 177Lu-PSMA-617 for mCRPC and spartalizumab combo for metastatic melanoma.
Phase 2 pipeline includes over 60 projects.
Over 50 filings expected in China through 2023.
Key emerging assets: iscalimab (CFZ533) in transplant, Sjögren’s syndrome; LNP023 in renal diseases and RA; MBG453 in myeloid disorders and TQJ230 for lowering CV risk.
Near-term late-stage data readouts/product launches include ofatumumab in relapsing forms of MS, fevipiprant in asthma, Lu-PSMA-617 in prostate cancer, ligelizumab in spontaneous urticaria and canakinumab in non-small cell lung cancer.

Thursday, December 5, 2019

Epizyme +2.6% as Morgan Stanley joins other bulls

Epizyme (NASDAQ:EPZM) is up 2.6% postmarket after its last cautious analyst holdout joined others in the bull column.
Morgan Stanley raised its recommendation to Overweight from Equal Weight, where it was a lone holdout.
The firm set its price target to $22, implying 44% upside.

US eyes faster launch for biosimilars in North American trade pact

Biosimilars could be brought to market much quicker in North America if a Trump administration proposal makes it into a new US-Canada-Mexico (USMCA) trade pact, according to press reports.
Citing people familiar with the matter, the Wall Street Journal says the US government is considering a reduction in the protections from competition for biologic drugs detailed in the USMCA from 10 years to five, to try to win support for the deal from Democrats in Congress.
Biologics have 12 years’ market exclusivity in the US, but the current wording of the trade agreement would reduce that to 10.
For comparison, Canada currently has eights years’ protection and Mexico five, so under the current wording patients would have to wait longer for biosimilars in the latter two countries.
Democrats and other groups have argued for the duration of the additional protection to be reduced to to allow cheaper copies of reference biologic drugs to get to market more quickly, as that would help cut spending on medicines by healthcare systems in all three countries.
Some have also argued for the provision to be dropped altogether, with the three countries retaining the status quo on biologics protection.
Companies that produce biosimilars in the US are also pushing for the reduction of course. The Association of Accessible Medicines – which represents generic and biosimilar manufacturers – argues that passing the USMCA with a five-year provision would prevent a biopharma monopoly from being expanded beyond the US and lower prescription drug prices for America’s patients.
Trump is keen to get the USMCA passed, as he has pledged a series of trade deals to boost the US economy in the build-up to the Presidential election next year. USMCA was agreed in principle by the US, Canada and Mexico a year ago, but still needs to be ratified by Congress.
The governments of Mexico and Canada would clearly need to agree any changes to the biologics’ exclusivity provisions in the trade deal if they do make it into the document.
Trump signed the USMCA in November 2018, shortly before the Democrats took control of the House of Representatives in the midterms. The shift in power has held up the treaty, which is the successor the North American Free Trade Agreement (NAFTA).
Last week, top Democrat Nancy Pelosi said that discussions with US Trade Representative (USTR) Robert Lighthizer were getting closer to an accord that could allow the USMCA to be tabled for a vote, with a few ‘wrinkles’ – such as enforcement of the provisions – still to be worked out.

Next generation of CAR-T cells possible

A new approach to programing cancer-fighting immune cells called CAR-T cells can prolong their activity and increase their effectiveness against human cancer cells grown in the laboratory and in mice, according to a study by researchers at the Stanford University School of Medicine.
The ability to circumvent the exhaustion that the genetically engineered cells often experience after their initial burst of activity could lead to the development of a new generation of CAR-T cells that may be effective even against solid cancers — a goal that has until now eluded researchers.
The studies were conducted in mice harboring human leukemia and bone cancer cells. The researchers hope to begin clinical trials in people with leukemia within the next 18 months and to eventually extend the trials to include solid cancers.
“We know that T cells are powerful enough to eradicate cancer,” said Crystal Mackall, MD, professor of pediatrics and of medicine at Stanford and the associate director of the Stanford Cancer Institute. “But these same T cells have evolved to have natural brakes that tamp down the potency of their response after a period of prolonged activity. We’ve developed a way to mitigate this exhaustion response and improve the activity of CAR-T cells against blood and solid cancers.”
Mackall, who is also the director of the Stanford Center for Cancer Cell Therapy and of the Stanford research center of the Parker Institute for Cancer Immunotherapy, treats children with blood cancers at the Bass Center for Childhood Cancer and Blood Diseases at Stanford Children’s Health.
Mackall is the senior author of the study, which will be published Dec. 4 in Nature. Former postdoctoral scholar Rachel Lynn, PhD, is the lead author.
Genetically modified cells of patient
CAR-T cells is an abbreviation for chimeric antigen receptor T cells. Genetically modified from a patient’s own T cells, CAR-T cells are designed to track down and kill cancer cells by recognizing specific proteins on the cells’ surface. CAR-T cell therapy made headlines around the world in 2017 when the Food and Drug Administration fast-tracked their approval for the treatment of children with relapsed or unresponsive acute lymphoblastic leukemia. Later that year, a version of CAR-T treatment was also approved for adults with some types of lymphoma.
But although blood cancers often respond impressively to CAR-T treatment, fewer than half of treated patients experience long-term control of their disease, often because the CAR-T cells become exhausted, losing their ability to proliferate robustly and to actively attack cancer cells. Overcoming this exhaustion has been a key goal of cancer researchers for several years.
Lynn and Mackall turned to a technique co-developed in the laboratory of Howard Chang, MD, PhD, the Virginia and D.K. Ludwig Professor of Cancer Genomics and professor of genetics at Stanford, to understand more about what happens when T cells become exhausted and whether it might be possible to inhibit this exhaustion. The technique, called ATAC-Seq, pinpoints areas of the genome where regulatory circuits overexpress or underexpress genes.
“When we used this technique to compare the genomes of healthy and exhausted T cells,” Mackall said, “we identified some significant differences in gene expression patterns.” In particular, the researchers discovered that exhausted T cells demonstrate an imbalance in the activity of a major class of genes that regulate protein levels in the cells, leading to an increase in proteins that inhibit their activity.
When the researchers modified CAR-T cells to restore the balance by overexpressing c-Jun, a gene that increases the expression of proteins associated with T cell activation, they saw that the cells remained active and proliferated in the laboratory even under conditions that would normally result in their exhaustion. Mice injected with human leukemia cells lived longer when treated with the modified CAR-T cells than with the regular CAR-T cells. In addition, the c-Jun expressing CAR-T cells were also able to reduce the tumor burden and extend the lifespan of laboratory mice with a human bone cancer called osteosarcoma.
“Those of us in the CAR-T cell field have wondered for some time if these cells could also be used to combat solid tumors,” Mackall said. “Now we’ve developed an approach that renders the cells exhaustion resistant and improves their activity against solid tumors in mice. Although more work needs to be done to test this in humans, we’re hopeful that our findings will lead to the next generation of CAR-T cells and make a significant difference for people with many types of cancers.”
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Other Stanford authors of the study are postdoctoral scholars Evan Weber, PhD, Zinaida Good, PhD, and Hima Anbunathan, PhD; senior research scientist Elena Sotillo, PhD; graduate students David Gennert, Victor Tieu, Surya Nagaraja, and Jeffrey Granja; former graduate student Charles de Bourcy, PhD; life science researcher Peng Xu; technician John Lattin; senior research engineer Robert Jones; assistant professor of pediatrics Robbie Majzner, MD; assistant professor of pathology Ansuman Satpathy, MD, PhD; professor of bioengineering and of applied physics Stephen Quake, PhD; and associate professor of neurology Michelle Monje, MD, PhD.
Mackall, Lynn, Weber and Sotillo are inventors on a Stanford provisional patent related to the work. Mackall is a founder of, holds equity in and receives consulting fees from San Francisco-based Lyell Immunopharma Inc., which has licensed the technology. Lynn is currently employed by Lyell, and Weber and Sotillo are consultants for the company.
The study was supported by the National Institutes of Health (grant P50-HG007735), a Stand Up To Cancer-St. Baldrick’s-National Cancer Institute Pediatric Dream Team Translational Cancer Research Grant, the Parker Institute for Cancer Immunotherapy, the Virginia and D.K. Ludwig Fund for Cancer Research, the Howard Hughes Medical Institute, the Burroughs Wellcome Fund and the Emerson Collective Cancer Research Fund.