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Friday, December 13, 2019

Biogen bails on gosuranemab after failed mid-stage study

Biogen (NASDAQ:BIIB) has decided to stop development of gosuranemab (BIIB092) after a Phase 2 clinical trial, PASSPORT, evaluating the N-terminal tau-targeting antibody in patients with progressive supranuclear palsy failed to demonstrate a significant treatment benefit.
Shares up 1% premarket.

Athenex down 17% on oral paclitaxel data

Results from a Phase 3 clinical trial comparing Athenex’s (ATNX -17.4%) oral paclitaxel (and oral absorption technology encequidar) to the intravenous (IV) formulation in metastatic breast cancer patients showed superior response and survival but with a mixed safety profile. The data are being presented at the San Antonio Breast Cancer Symposium.
In the intent-to-treat population, the tumor response rate in the oral paclitaxel group was 35.8% (n=95/265) versus 23.4% (n=32/137) (p=0.011). In the population with evaluable post-baseline scan, the response rates were 50.3% and 29.6%, respectively (p=0.0005). Median duration of response was greater in the oral group (27.9 months) compared to the IV group (16.9 months).
Median overall survival (OS) was 27.9 months compared to 16.9 months for IV paclitaxel (p=0.035).
Median progression-free survival favored oral paclitaxel, 9.3 months vs. 8.3 months, but the separation thus far was not statistically significant (p=0.077).
Investors appear to be reacting to the safety data. The rates of alopecia (hair loss), severity of neuropathic adverse events (17% vs. 57%) and serious neuropathic symptoms (1% vs. 8%) were lower in patients receiving oral paclitaxel, but higher rates of neutropenia, infection and gastrointestinal adverse events were observed. The toxicity profiles of oral and IV pactlitaxel were generally similar.

Salarius Pharma up 15% ahead of seclidemstat study presentation

Thinly traded nano cap Salarius Pharmaceuticals (SLRX +15%) is up on almost 50% higher volume, a modest 37K shares, in apparent response to its announcement that an overview of its Phase 1/2 clinical trial evaluating lead drug seclidemstat in patients with a rare pediatric bone cancer called Ewing sarcoma will be presented on Monday, December 16, at the Epigenetics Symposium in Philadelphia.
Seclidemstat is a small molecule inhibitor of an epigenetic enzyme called lysine-specific demethylase 1 (LSD1), highly expressed in certain cancers and associated with aggressive disease and poor prognosis.

Analyst action, Dec. 13

Arrowhead Pharmaceuticals (NASDAQ:ARWR) initiated with Market Perform rating at Oppenheimer.
Exact Sciences (NASDAQ:EXAS) initiated with Buy rating and $120 (40% upside) price target at Dougherty & Company.
Ionis Pharmaceuticals (NASDAQ:IONS) initiated with Outperform rating and $77 (24% upside) price target at Oppenheimer.
Biogen (NASDAQ:BIIB) upgraded to Neutral with a $300 (2% upside) price target at Credit Suisse. Shares up 1% premarket.
Bluebird bio (NASDAQ:BLUE) upgraded to Outperform with a $135 (61% upside) price target at Oppenheimer. Shares up 3% premarket.
Bristol-Myers Squibb (NYSE:BMY) upgraded to Buy with an $80 (25% upside) price target at Argus Research.
NuVasive (NASDAQ:NUVA) upgraded to Outperform at SVB Leerink.
Regeneron Pharmaceuticals (NASDAQ:REGN) upgraded to Outperform with a $400 (8% upside) price target at Credit Suisse. Shares up 1% premarket.
Aimmune Therapeutics (NASDAQ:AIMT) downgraded to Neutral with a $30 (5% downside risk) price target at Credit Suisse. Shares down 2% premarket.
Galapagos NV (NASDAQ:GLPG) downgraded to Neutral with a €169 (11% downside risk) price target at Credit Suisse. Shares down 2% premarket in U.S.
Gilead Sciences (NASDAQ:GILD) downgraded to Underperform with a $63 (7% downside risk) price target at Credit Suisse. Shares down 1% premarket.
Neurocrine Biosciences (NASDAQ:NBIX) downgraded to Neutral with a $110 (1% downside risk) price target at Credit Suisse. Shares down 1% premarket.
NextGen Healthcare (NASDAQ:NXGN) downgraded to Neutral with a $17 (1% upside) price target at Cantor Fitzgerald.

Exelixis reports positive data from IMspire150 trial

Exelixis (NASDAQ:EXELannounces positive results from IMspire150, the Phase 3 trial of atezolizumab (TECENTRIQ), cobimetinib (COTELLIC) and vemurafenib (ZELBORAF) in people with previously untreated BRAF V600 mutation-positive advanced melanoma.
Roche (OTCQX:RHHBY) unit Genentech, Exelixis’ collaborator and the sponsor of the IMspire150 trial, informed that the study met its primary endpoint of progression-free survival (PFS).
Adding atezolizumab to cobimetinib and vemurafenib helped to reduce the risk of disease worsening or death, compared to placebo plus cobimetinib and vemurafenib.

ViiV Healthcare files applications for dispersible formulations of dolutegravir

ViiV Healthcare has filed marketing applications in the U.S. and Europe for a 5 mg dispersible tablet formulation of dolutegravir for HIV-positive children as well as a simplified dosing regimen aimed at optimizing the use of the existing dolutegravir 50 mg film-coated tablet for pediatric patients.
There are ~1.7M children below the age of 15 living with HIV worldwide.
ViiV Healthcare is the HIV-focused joint venture between GlaxoSmithKline (NYSE:GSK), Pfizer (NYSE:PFE) and Shionogi (OTCPK:SGIOY).

FDA OK’s extended-release Xeljanz for ulcerative colitis

The FDA approves Pfizer’s (NYSE:PFE) Xeljanz ER (tofacitinib) extended-release 11 mg and 22 mg tablets for the treatment of adults with moderately to severely active ulcerative colitis who have failed to respond adequately to or are intolerant of TNF blockers [for example, AbbVie’s Humira (adalimumab)].
Xeljanz ER is dosed once daily whereas Xeljanz is dosed twice daily.