Fate Therapeutics up 23% after hours on J&J cell therapy deal

Fate Therapeutics (NASDAQ:FATE) inks a global collaboration and option agreement with Johnson & Johnson (NYSE:JNJ) unit Janssen Biotech aimed at developing cell therapies for cancer.

The partnership will leverage the company’s induced pluripotent stem cell (iPSC) platform with Janssen’s proprietary antigen-binding domains in up to four tumor-associated antigen targets that will be used to create novel CAR NK (natural killer) and CAR T-cell product candidates.

Fate will advance the candidates through the IND stage after which Janssen will have the option to exclusively license development and commercialization rights. Fate will be largely responsible for manufacturing which will be funded by Janssen.

Under the terms of the deal, Fate will receive $50M upfront, up to $1.8B in development and regulatory milestones, up to $1.2B in commercial milestones and double-digit royalties on net sales. It also has the right to co-commercialize each candidate in the U.S. and equally share in profits and losses. And finally, Janssen will invest $50M in Fate common stock at $31 per share (today’s close was $21.07).

https://seekingalpha.com/news/3558035-fate-therapeutics-up-23-after-hours-on-j-and-j-cell-therapy-deal

White House to recommend cloth masks amid COVID-1

STAT reports that the Trump administration, based on guidance from the CDC, is expected to announce a new policy urging Americans to wear cloth masks in an effort to prevent the spread of COVID-19.

The CDC recommended the public use homemade face coverings considering the enormous demand for N95 masks and related gear from healthcare workers.

Alpha Pro Tech (NYSEMKT:APT) is down 15%.

https://seekingalpha.com/news/3557968-white-house-to-recommend-cloth-masks-amid-covidminus-19

President invokes DPA on more companies for ventilator production

General Electric (NYSE:GE), Hill-Rom (NYSE:HRC), Medtronic (NYSE:MDT), ResMed (NYSE:RMD), Royal Philips and Vyaire Medical are the latest manufacturers subject to the Defense Production Act to manufacture needed ventilators.
https://seekingalpha.com/news/3557987-president-invokes-dpa-on-companies-for-ventilator-production

Emergent Bio teams up with feds to expedite plasma therapy for COVID-19

Emergent BioSolutions (NYSE:EBS) inks a formal agreement with the U.S. government aimed at speeding up the development of a plasma-based therapy, COVID-HIG, a human hyperimmune (contains a lot of antibodies against SARS-CoV-2) product for the potential treatment of severely ill COVID-19 patients and high-risk acute symptomatic patients to prevent progression to severe symptoms.

The company has initiated plasma screening and collection and intends to seek emergency use authorization from the FDA.

The U.S. Department of Health and Human Services’ Biomedical Advanced Research and Development Authority (BARDA) will provide $14.5M in funding to support development.

NIH’s National Institute of Allergy and Infectious Diseases (NIAID) has agreed to incorporate COVID-HIG into one of its clinical trials.

https://seekingalpha.com/news/3558007-emergent-bio-teams-up-feds-to-expedite-plasma-therapy-for-covidminus-19

Vanda Pharmaceuticals launches study of tradipitant for COVID-19

Vanda Pharmaceuticals (VNDA +4.8%) initiates a Phase 3 clinical trial, ODYSSEY VLY-686-3501, evaluating tradipitant, on top of standard of care treatment, in severely ill COVID-19 patients with acute respiratory distress syndrome.

The 300-subject study will begin in New York-area hospitals.

Tradipitant works by blocking the neurokinin-1 receptor (NK1R) that is involved in a range of neuroinflammatory processes that leads to significant lung injury.

https://seekingalpha.com/news/3557934-vanda-pharmaceuticals-launches-study-of-tradipitant-for-covidminus-19

Big-box shocker out of Vermont

Vermont is asking large retailers to comply with an order to stop sales of all “non-essential” items in order to cut down on store traffic.

While Vermont isn’t a huge sales contributor for the retail industry, the development could be significant for Walmart (NYSE:WMT), Target (NYSE:TGT), Costco (NASDAQ:COST), Best Buy (NYSE:BBY), Home Depot (NYSE:HD), Lowe’s (NYSE:LOW) and other big-box chains if more states go down a similar path.

State of Vermont Agency of Commerce and Community Development press release

https://seekingalpha.com/news/3557838-big-box-shocker-out-of-vermont

Moderna up 11% on encouraging study timeline for COVID-19 vaccine

In an interview on CNBC, Moderna (MRNA +11.0%) Chairman Noubar Afeyan said that Phase 2 studies evaluating its COVID-19 vaccine candidate should launch this spring or early summer.

Approval for widespread deployment is still 12 – 18 months away, however (emergency use authorization is a certainty if the vaccine is shown to be safe and shows a protective effect, even if preliminary).

https://seekingalpha.com/news/3557971-moderna-up-11-on-encouraging-study-timeline-for-covidminus-19-vaccine