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Friday, May 8, 2020

Cytokinetics’ omecamtiv mecarbil Fast Track’d for heart failure

Cytokinetics (NASDAQ:CYTK) and exclusive licensee Amgen (NASDAQ:AMGN) announce that the FDA has designated omecamtiv mecarbil for Fast Track review for the potential treatment of heart failure patients with reduced ejection fraction.
Fast Track status provides for more frequent interaction with the FDA review team and a rolling review of the marketing application.
A large-scale Phase 3 clinical trial, GALACTIC-HF, is in process with topline results expected in Q4.
Omecamtiv mecarbil is a cardiac myosin activator. Myosin is a protein in heart muscle that is responsible for converting chemical energy into the mechanical energy that results in a heartbeat. Cardiac myosin activators increase systolic ejection time which results in an increase in cardiac contractility and more oxygen-efficient cardiac function.

Sorrento teams up with Mount Sinai to develop COVID-19 treatment

Sorrento Therapeutics (SRNE +9.1%) has agreed to co-develop an antibody cocktail called COVI-SHIELD for the potential treatment of COVID-19 with Mount Sinai Health System.
COVI-SHIELD will consist of antibodies identified in plasma of ~15K patients who have recovered from the respiratory infection that was screened with a Mt. Sinai-developed test. Three antibodies will be used that bind to three unique regions of the SARS-CoV-2 spike protein, thereby interfering with its ability to infect healthy cells.
The company says the therapy is designed to be administered as often as necessary and to provide antiviral protection for up to two months.
https://seekingalpha.com/news/3572225-sorrento-teams-up-mount-sinai-to-develop-covidminus-19-treatment

Opko reference lab unit launches COVID-19 antibody screening in NY

OPKO Health (OPK +7.9%) unit BioReference Laboratories, in partnership with New York City Health and Hospital Corporation, launches blood screening for COVID-19 antibodies at five locations across all five boroughs.
Initial testing, for epidemiology purposes, will be performed for 140K residents. More testing sites will open in the coming weeks.
https://seekingalpha.com/news/3572217-opko-reference-lab-unit-launches-covidminus-19-antibody-screening-in-ny

Wall Street gains on easing U.S.-China tensions, jobs report

U.S. stocks jumped at the open on Friday as an easing in U.S.-China friction added to optimism from data showing the U.S. economy lost fewer jobs in April than feared due to the coronavirus crisis.
The Dow Jones Industrial Average .DJI rose 231.93 points, or 0.97%, at the open to 24,107.82. The S&P 500 .SPX opened higher by 27.64 points, or 0.96%, at 2,908.83, while the Nasdaq Composite .IXIC gained 77.23 points, or 0.86%, to 9,056.89 at the opening bell.
https://www.reuters.com/article/us-usa-stocks/wall-street-gains-on-easing-u-s-china-tensions-jobs-report-idUSKBN22K1D0

Thursday, May 7, 2020

How Deere, Caterpillar kept plants running during the coronavirus outbreak

While Detroit automakers’ unionized auto factories have been idled by the coronavirus pandemic, farm and construction equipment makers Deere (DE.N) and Caterpillar (CAT.N) have won the support of the United Auto Workers and other unions to run their facilities during the pandemic.
As U.S. states begin to lift lockdown orders and companies gear up to restart production, the policies put in place by the two heavy equipment makers offer a template for returning workers to idled factories in other sectors.
Giving employees sick time without penalty, temperature screenings, staggered shifts and hiring a hygiene-auditing firm are some of the measures the two companies have taken to reassure employees to stay on production lines when many union and non-union workers balk at reporting for jobs that could expose them to the novel coronavirus that causes COVID-19.
Detroit’s auto companies had to negotiate long and hard with the United Auto Workers, which represents their hourly workers, over how and when to restart U.S. production. The UAW blocked the automakers’ plans to restart their factories on May 4.
The union this week signaled its members are ready to go back to work at General Motors Co (GM.N), Ford Motor Co (F.N) and Fiat Chrysler Automobiles NV’s U.S. factories on May 18.
By contrast, the UAW let Deere resume production at two of its facilities within days of employees testing positive for the virus.
Union officials attribute that decision to a safety policy they negotiated with the company that mandates a strict implementation of guidelines prescribed by the nation’s health protection agency and the World Health Organization.
But it was a provision for expanded benefits that sealed the deal, UAW officials say.
“One of our priorities on the health and safety issue is to make sure that our members can self-report without any kind of penalty,” said Brian Rothenberg, the UAW’s public relations director. The union is negotiating with all its employers for similar benefits in order to reduce the risk of infection in the workplace.
Deere declined to comment officially, citing the quiet period ahead of its earnings report later this month.

EXPANDED BENEFITS

Under its agreement with the UAW, Deere is providing paid sick leave to cover the recommended 14 days of self-quarantine, even to workers who think they have been exposed to the virus but are not certain and have not been tested.
“The last thing we wanted was for individuals to feel compelled to come to work to get paid,” a Deere official said.
The Moline, Illinois-based company altered shift schedules to ensure employees from one shift exit before the next shift reports to work. It hired an industrial-hygiene company to audit the sanitization work at some of its larger units.
Additionally, the farm equipment maker enhanced pay provisions to cover the challenges workers face due to day care and school closings. It also waived copays, coinsurance and deductibles for its employees for coronavirus testing.
At Caterpillar, the UAW and the United Steelworkers have negotiated a similar paid sick leave policy for their members.
The heavy equipment maker is offering workers paid sick leave up to 2 weeks if they have been instructed to self-quarantine. The benefit also can be used for taking care of immediate family members.
Production employees are allowed time off up to 10 weeks at 2/3 of their salary for child care.
Caterpillar spokeswoman Kate Kenny said the benefits are available to all employees who are unable to work from home, not just union members.
Workers are required to go for temperature checks before entering some facilities. To ensure social distancing, lunch hours have been extended at some locations and visitor access has been limited.

WORKING, BUT NOT BUSINESS AS USUAL

It has not been smooth sailing for the two equipment manufacturers. Factories are hobbled by supply shortages, weakened demand and increased absenteeism among workers.
Caterpillar’s retail sales dropped by 20% in North America in March. In response to the virus-induced business disruption, the company is temporarily shutting down facilities and imposed indefinite or temporary layoffs.
Chief Financial Officer Andrew Bonfield said Caterpillar is managing production by segment and adjusting its workforce by facility.
The situation at Deere is also uncertain. The company will temporarily suspend production at its Davenport and Dubuque facilities in Iowa on May 11 for two weeks due to supply chain disruptions.
Depressed demand for construction and forestry equipment in the wake of the pandemic has led the company to lay off 159 employees indefinitely at the Dubuque facility.
“You prepare for crises, but crises would be at one factory,” the Deere official said. “This is a crisis that has upended every unit.”
https://www.reuters.com/article/us-health-coronavirus-usa-equipment/how-deere-caterpillar-kept-plants-running-during-the-coronavirus-outbreak-idUSKBN22J2R5

California begins to reopen tomorrow

Retailers like clothing stores, bookstores, florists, and sporting goods (Governor Newsom’s examples) may reopen for business tomorrow with curbside pickup.
Manufacturers and logistics warehouses may reopen as well.
The news draws a “Yeah!!” from one well-known California resident.
Guidelines for the reopening of office buildings, dine-in restaurants, shopping malls, and others will be released early next week.
A growing number of local governments and individual businesses over the past few days have already reopened in defiance of the governor’s orders.
https://seekingalpha.com/news/3571879-california-begins-to-reopen-tomorrow

Giving blood thinners to severely ill Covid-19 patients is gaining ground

Treating Covid-19 patients with medicines to prevent blood clots might help reduce deaths in patients on ventilators, based on new observational data.
A team from Mount Sinai Health System in New York on Wednesday reported better results for hospitalized Covid-19 patients who received anticoagulant drugs compared to patients who didn’t. The data are preliminary and require confirmation in larger studies with a more robust design, the authors say about their study published in the Journal of the American College of Cardiology, but their findings add weight to medical guidelines.
While there are no firm data on the frequency of clotting problems in Covid-19 patients, there have been troubling anecdotal reports of patients whose lungs are peppered with tiny clots or who have suffered strokes. Last month, other Mount Sinai doctors detailed strokes in five Covid-19 patients in their 30s and 40s, an unusually young age for such a damaging cardiovascular event. Other reports of strokes have bubbled up elsewhere, including 88 patients in the original epicenter of the coronavirus in Wuhan, China, six in London, and three in Strasbourg, France.
Autopsies of 12 Covid-19 patients showed strong evidence for blood clotting problems, including clots in the lungs and in the legs, a group in Hamburg, Germany, reported Wednesday. In all 12 cases, the cause of death was found within the lungs or the pulmonary vascular system.
Together they add to accumulating evidence that Covid-19 leads to abnormal blood clotting and that anticoagulant medications might help.
The most recent Mount Sinai study analyzed data from more than 2,700 patients hospitalized for Covid-19. The percentage of patients who died while not on a ventilator to help them breathe was about the same, whether or not they received some form of anticoagulant. Time to death was a week longer for those who were given anticoagulants: a median of 21 days compared to 14 days for those who did not receive anticoagulants.
There was a mortality difference among sicker patients who were on ventilators in intensive care units: 63% of those given anticoagulants survived versus 29% who did not get anticoagulants. The patients were not randomly assigned to treatment or no treatment, however, meaning the study could not rule out other explanations for the apparent survival benefit.
Bleeding is a risk for patients who take anticoagulants, but the study found no significant difference between patients who did or did not receive anticoagulants.
“They interrogated their database of Covid-19 patients and came up with an interesting, thought-provoking finding that patients [on ventilators] who received full-dose, systemic anticoagulants had a lower mortality than those who did not, particularly patients in the intensive care unit,” said Jeffrey Weitz, president-elect of the International Society on Thrombosis and Haemostasis and a physician-scientist at McMaster University in Canada who was not involved in the study.  “What it suggests to me is that anticoagulation alone might attenuate the disease, but it may not be the answer. We need more data and longer follow-up. Remember, this is just observational data. We don’t have a full picture on all of those patients.”
Based on the data in hand, Mount Sinai has changed its guidance on anticoagulants, said Valentin Fuster, a co-author of the study and physician-in-chief at Mount Sinai Hospital. Doctors had been giving patients anticoagulants before, using their clinical judgment. “We developed a new policy once we got these results,” Fuster said. “And that is to increase the dose of anticoagulants to the patients with Covid-19.”
Current guidelines from the American College of Cardiology for managing abnormal blood clotting in Covid-19 patients note that while most of its expert panel members recommend preventive doses of anticoagulants, a minority say they use the higher doses typically prescribed for patients with established blood-clotting problems. McMaster’s Weitz is a co-author of those guidelines. What we’re really trying to find out is who should get it and how much,” he said about anticoagulant medication.
Anu Lala, another co-author and a cardiologist at Mount Sinai, said while the data reflect what she’s been seeing in the hospital, they demand more study.
“The very fact that there is a signal there is in line with what we seem to be observing clinically, having been on the wards for four weeks,” she said. “It opens the gate for us to do a deeper dive. There’s a lot more work to be done to prove or even really determine causality
One unknown: Did patients have an underlying cause for blood clots, such as the abnormal heart rhythm atrial fibrillation? Patients had their blood drawn when they were admitted to one of the five hospitals in the Mount Sinai system, and if they had inflammatory markers, they were put on oral, injected, or infused anticoagulants. Higher doses were given in the ICU.
In the earlier case reports on young Covid-19 patients who had strokes, there were no signs of blood-clotting disorders. J Mocco, a neurosurgeon at Mount Sinai, said that right when New York was seeing a surge in hospital admissions for Covid-19, he and colleagues in cardiology and pulmonology noticed a much higher than expected number of patients with stroke, amounting to a sevenfold increase over normal numbers. These patients were 15 years younger than typical stroke patients and they didn’t have risk factors for stroke such as irregular heartbeats or heart failure.
“I don’t want every person out there being petrified they’re going to have a stroke because of the coronavirus being out there,” he said. “But within this group of individuals, it does strongly suggest that the virus is contributory to their strokes.”
That argues for starting blood thinners sooner and looking at other measures, he said. “In some patients, we’re even trying clot-busting drugs to try to undo some of the clotting.”
Why Covid-19 patients have abnormal blood clotting isn’t known, but doctors suspect it’s related to inflammation and the ACE2 receptors the coronavirus latches onto, not only in the lungs and other organs but also on the lining of blood vessels. Inflammation and blood clotting normally go together, with a blood clot forming around the site of an infection. How this goes wrong in Covid-19 and whether it’s just one factor is still not understood.
At Mount Sinai, the next step is another observational study of 5,000 Covid-19 patients taking blood thinners to home in on why they were started on anticoagulants, followed by a randomized clinical trial based on what is learned.
“The more we learn, I think, the more we’re humbled, quite frankly,” Lala said. “We’ve got to keep going.”
Giving blood thinners to severely ill Covid-19 patients is gaining ground