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Tuesday, May 5, 2020

Soft outlook pressures Oxford Immunotec

Oxford Immunotec Global PLC (OXFD -9.8%) is down, albeit on below-average volume, after releasing Q1 results that came in shy of expectations.
The company said that COVID-19 headwinds “became apparent” near quarter-end and it expects a $5M – 6M drop in Q2 revenues, adding that it anticipates this quarter to experience the most significant disruptions from the pandemic. Citing the uncertainty related to the scope and duration of the contagion, it is unable to provide annual revenue guidance.
https://seekingalpha.com/news/3569160-soft-outlook-pressures-oxford-immunotec-shares-down-10

Humana Temporarily Waives Medicare Primary, Behavioral, Telehealth Copays

Humana Inc. said it would waive cost-sharing on primary care, behavioral health and telehealth visits by its Medicare members for the rest of the year.
The insurer, which said it believes it is the first to make such a move, said the financial impact is “meaningful” and will be part of its effort to disburse gains that come as a result of the widespread cancellation of elective procedures and other health care amid the coronavirus pandemic.
Insurers are expected to see huge savings from the drop-off, which is putting a financial squeeze on hospitals and doctors.
Humana said its members typically pay co-pays ranging from $0 to $35, while a small share pay 20% coinsurance. The waived cost-sharing means the visits will also not count against the members’ deductibles. However, the shift only applies to in-network visits.
https://www.marketscreener.com/HUMANA-INC-13000/news/Humana-Temporarily-Waives-Member-Costs-for-Primary-Care-Behavioral-Health-and-Telehealth-Visit-30542326/

CRISPR-based test for Covid-19 could be a simple, cheap at-home diagnostic

The revolutionary genetic technique better known for its potential to cure thousands of inherited diseases could also solve the challenge of Covid-19 diagnostic testing, scientists announced on Tuesday. A team headed by biologist Feng Zhang of the McGovern Institute at MIT and the Broad Institute has repurposed the genome-editing tool CRISPR into a test able to quickly detect as few as 100 coronavirus particles in a swab or saliva sample.
Crucially, the technique, dubbed a “one pot” protocol, works in a single test tube and does not require the many specialty chemicals, or reagents, whose shortage has hampered the rollout of widespread Covid-19 testing in the U.S. It takes about an hour to get results, requires minimal handling, and in preliminary studies has been highly accurate, Zhang told STAT. He and his colleagues, led by the McGovern’s Jonathan Gootenberg and Omar Abudayyeh, released the protocol on their STOPCovid.science website.
Because the test has not been approved by the Food and Drug Administration, it is only for research purposes for now. But minutes before speaking to STAT on Monday, Zhang and his colleagues were on a conference call with FDA officials about what they needed to do to receive an “emergency use authorization” that would allow clinical use of the test. The FDA has used EUAs to fast-track Covid-19 diagnostics as well as experimental therapies, including remdesivir, after less extensive testing than usually required.
For an EUA, Zhang said, the agency will require his lab to validate the test, which they call STOPCovid, on several samples. Although “it is still early in the process,” Zhang said, he and his colleagues are confident enough in its accuracy that they are conferring with potential commercial partners who could turn the test into a cartridge-like device, similar to a pregnancy test, enabling Covid-19 testing at doctor offices and other point-of-care sites.
“It could potentially even be used at home or at workplaces,” Zhang said. “It’s inexpensive, does not require a lab, and can return results within an hour using a paper strip, not unlike a pregnancy test. This helps address the urgent need for widespread, accurate, inexpensive, and accessible Covid-19 testing.” Public health experts say the availability of such a test is one of the keys to safely reopening society, which will require widespread testing, and then tracing and possibly isolating the contacts of those who test positive.
The scientists are also in discussions with the Gates Foundation about distributing the testing kits. “It could be especially valuable in places where there is not the capacity for centralized testing,” Gootenberg said.
Other labs are also developing CRISPR-based Covid-19 tests. Last month scientists at the University of California, San Francisco, and Mammoth Biosciences reported that theirs takes roughly 40 minutes, compared with four to six hours for the traditional swab tests (which use a biochemical reaction called PCR and require numerous reagents). But that test appears to produce false negatives slightly more often than the PCR test. It also requires two steps, similar to one that Zhang developed in February; that adds complexity and increases the chances that samples will cross-contaminate.
Zhang’s February test is being used by hospitals in Thailand. But with his colleagues, he has spent the last two months creating the one-step version.
“The key advance for STOP is the simplification into a single-step reaction, which prevents cross contamination during step-to-step liquid transfers,” he said. “That makes it suitable for point-of-care use.”
Existing “home” Covid-19 diagnostic tests such as that from LabCorp allow people to collect the sample — that is, swab themselves — at home. The actual test must be done at a lab. Currently approved point-of-care Covid-19 diagnostic tests, such as Abbott ID NOW and Cepheid GeneXpert, require specialized and expensive instrumentation and technical expertise, limiting widespread use. Abbott’s has also been plagued by false negatives, meaning it sometimes fails to detect the coronavirus.
STOP stands for “Sherlock Testing in One Pot.” It builds on Zhang’s 2017 CRISPR invention, called Sherlock. Like the better-known, genome-editing versions of CRISPR, Sherlock starts with a guide molecule that homes in on a specific stretch of DNA — or RNA, which constitutes the genome of the new coronavirus. An enzyme called AapCas12b, from the bacterium Alicyclobacillus acidophilus, cuts the RNA in a way that generates a fluorescent signal detectable much as home pregnancy tests detect the presence of a pregnancy-related hormone.
For STOP, the scientists targeted their guide molecule at the coronavirus’s N gene, which codes for the nucleocapsid, or shell, that encloses its genome. The PCR test developed by the Centers for Disease Control and Prevention also targets the N gene.
The MIT scientists tested STOP on nasopharyngeal swabs from Covid-19 patients and on saliva samples from healthy people to which the new coronavirus was added. STOP had 100% specificity — it never “found” the coronavirus if the microbe wasn’t really there — and 97% sensitivity, meaning if the virus was present, the test missed it only 3% of the time. The existing PCR test misses up to 30% of cases, scientists have said.
The scientists have prepared enough material so far for 10,000 tests, and are making it free to researchers who want to evaluate its potential diagnostic use.
New CRISPR-based test for Covid-19 could be a simple, cheap at-home diagnostic, scientists say

Rare cases of pediatric inflammatory condition, possibly caused by coronavirus

Fifteen children in New York City have been hospitalized for what officials called a “multi-system inflammatory syndrome” that the local health department is investigating as a possible consequence of a Covid-19 infection. Doctors in Europe have recently reported similar cases — the latest potential twist in the coronavirus pandemic.
The children in New York, ages 2 to 15, had high fevers and elevated levels of inflammatory markers, signs that are common in shock and an acute pediatric heart condition called Kawasaki disease, the city’s health department said Monday. The patients, who were hospitalized from April 17 to May 1, also showed symptoms including rash, abdominal pain, vomiting, and diarrhea. Five of the children had to be placed on ventilators; none have died.
Only four of the patients tested positive for an active case of Covid-19, but six of the negative cases showed evidence of a previous infection based on blood tests.
The bulletin from New York came after pediatricians in the United Kingdom and other European countries warned of a small increase in the number of critically ill children there also showing signs of shock or Kawasaki disease. Some had tested positive for the coronavirus.
“What we’ve asked for is for the global network of clinicians to be on alert for this and to ensure that they capture information on children systematically so that we can better understand what is occurring in children and so that we can better improve our understanding and guide treatment,” Maria Van Kerkhove, a World Health Organization coronavirus expert, said at a briefing last week. She said that the cases reported in Europe appeared to be rare.
Overall, children are thought to have much milder Covid-19 infections than adults, with some portion not even showing symptoms. Researchers are still investigating whether or not that means they spread the virus less efficiently than infected adults.
The bulletins issued by New York City’s health department and a group of British pediatricians warned clinicians to be on the lookout for signs of Kawasaki disease, which can be difficult to diagnose.
The disease causes inflammation in arteries, particularly those that supply the heart with blood. If it’s not treated quickly, it can lead to blocked blood flow and heart damage. It’s most common in children under 5, but can affect teenagers as well.
There is no known cause for the disease, but it’s thought that it occurs when an infection causes the body’s own immune system to overreact. In people with serious Covid-19 infections, much of the widespread organ damage is similarly caused not directly by the virus, but by the immune reaction heading into overdrive.
“We do not yet know if the coronavirus produces a similar immune response in children,” Michael Portman, a pediatric cardiologist and director of the Kawasaki Disease Clinic at Seattle Children’s Hospital, said on the hospital’s blog last week. “Adults with the coronavirus often show a massive immune response, which is in some ways similar to that occurring in children with Kawasaki disease.”
Jane Burns, a pediatrician and director of the University of California, San Diego’s Kawasaki Disease Research Center, wrote last week that Covid-19 “may be a trigger for some children to develop KD,” in line with how there were different triggers for different children based on genetics.
But, she added, “there is no information to suggest that children who have had KD are at increased risk for complications of Covid-19 infection compared to the general population.”
Doctors in Europe, New York report rare cases of pediatric inflammatory condition, possibly caused by coronavirus

Incyte Q1 Jakafi sales up 22%; guidance affirmed

Incyte (INCY) Q1 results:
Revenues: $568.5M (+14.2%); Jakafi: $459.5M (+22.3%); Iclusig: $27.2M (+32.0%); Jakavi product royalty: $56.3M (+23.5%); Olumiant product royalty: $25.4M (+58.8%).
Net loss: ($720.6M); loss/share: ($3.33); non-GAAP Net loss: ($618.9M); non-GAAP loss/share: ($2.86).
2020 Guidance: Jakafi sales: $1.88B – 1.95B (unch); Iclusig sales: $100M – 105M (unch).
https://seekingalpha.com/news/3569043-incyte-q1-jakafi-sales-up-22-guidance-affirmed

FDA OKs emergency use of PerkinElmer COVID-19 blood test

The FDA has signed off on emergency use of PerkinElmer’s (PKI +1.5%) Anti-SARS-CoV-2 ELISA (IgG) blood test developed at subsidiary EUROIMMUN.
The company says the test has 100% sensitivity (correctly identifying true positives) and 99% specificity (correctly identifying true negatives) after 21 days following the onset of COVID-19 symptoms.
https://seekingalpha.com/news/3569114-fda-oks-emergency-use-of-perkinelmer-covidminus-19-blood-test

Athersys up on MultiStem study in COVID-19 advances

Enrollment is underway in a pivotal Phase 2/3 clinical trial evaluating Athersys’ (NASDAQ:ATHX) MultiStem cell therapy in COVID-19 patients with acute respiratory distress syndrome.
Target enrollment is 400 subjects. The primary endpoint is the number of ventilator-free days through day 28 versus placebo.
https://seekingalpha.com/news/3569108-athersys-up-3-premarket-multistem-study-in-covidminus-19-advances