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Friday, December 13, 2019

Boehringer, Lilly update on Jardiance phase 3 exercise ability in heart failure

Boehringer Ingelheim and Eli Lilly and Company (NYSE: LLY) announced today results from the EMPERIAL-Reduced and EMPERIAL-Preserved trials related to functional endpoints with Jardiance® (empagliflozin) in adults with chronic heart failure with reduced and preserved ejection fraction, respectively. In both trials, there was no significant change from baseline to week 12 in exercise ability with Jardiance versus placebo, as measured by the six-minute walk test, which was the primary endpoint of the studies. The safety profile seen in the EMPERIAL trials was similar to the currently known safety profile of Jardiance and no new safety risks were identified.
The EMPERIAL trials, which included people with and without diabetes, deliver novel safety data for Jardiance in non-diabetic patients with heart failure. In addition, EMPERIAL-Preserved is the first trial to deliver safety data for Jardiance in heart failure with preserved ejection fraction.
“Our large heart failure clinical program underscores our dedication to researching new options for people living with this condition,” said Mohamed Eid, M.D., M.P.H., M.H.A., vice president, Clinical Development & Medical Affairs, Cardio-Metabolism & Respiratory Medicine, Boehringer Ingelheim Pharmaceuticals, Inc. “The EMPERIAL trials set a high bar for Jardiance to demonstrate an improvement in exercise ability in people with chronic heart failure, and we continue to believe in its potential to improve clinical outcomes. The ongoing EMPEROR trials—which are investigating outcomes including cardiovascular death, hospitalization for heart failure and quality of life—remain the cornerstone of our heart failure program, and we look forward to sharing initial results in 2020.”
The EMPERIAL trials used the six-minute walk test, which measures the distance a person can walk in six minutes, to evaluate changes in exercise ability over 12 weeks. For other heart failure guideline-recommended therapies, there have been divergent results between studies examining clinical outcomes and symptom improvement, with some showing improvements in outcomes such as mortality, but neutral or inconsistent results in exercise ability and patient-reported outcomes.
The ongoing empagliflozin heart failure program also includes the EMPEROR-Preserved, EMPEROR-Reduced, EMPULSE and EMPA-VISION studies. The program, which will include more than 10,000 adults, investigates the effects of empagliflozin on heart failure-related outcomes and patient-related outcomes in people with heart failure. The EMPERIAL studies were initiated based on data obtained from the EMPA-REG OUTCOME® trial, in which Jardiance showed a 38% relative risk reduction in cardiovascular death and a 35% relative risk reduction in hospitalization for heart failure in adults with type 2 diabetes and established cardiovascular disease, compared to placebo.

Tenet to divest Memphis-area facilities

Tenet Healthcare (THC +0.6%) has agreed to sell two hospitals, including its associated physician practices, and six MedPost urgent care centers in the Memphis area to Methodist Le Bonheur Healthcare for an undisclosed sum.
The hospitals are St. Francis in Memphis and St. Francis in Bartlett.
The transaction should be completed in 2020.

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.