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Friday, June 5, 2020

Applied Molecular prices IPO at $14

Applied Molecular Transport (AMTI) has priced its IPO of 11M common shares at $14.00/share, for expected gross proceeds of $154M.
Underwriters’ over-allotment is an additional 1.65M shares.
Trading kicks off today.
Closing date is June 9.
https://seekingalpha.com/news/3580677-applied-molecular-prices-ipo-14

Abiomed on go with study of new heart pump

The FDA has signed off on the first in-human study of Abiomed’s (NASDAQ:ABMD) 9 French Impella ECP heart pump in high-risk percutaneous coronary intervention (PCI) patients.
The company says the device, designed for short-term mechanical circulatory support, is the world’s smallest heart pump.
https://seekingalpha.com/news/3580717-abiomed-on-go-study-of-new-heart-pump

MacroGenics’ margetuximab an Orphan Drug in U.S. for gastric cancer

The FDA has granted Orphan Drug Designation to MacroGenics’ (NASDAQ:MGNX) margetuximab, an investigational, Fc-engineered monoclonal antibody targeting HER2 for the treatment of gastric and gastroesophageal junction cancer.
Among the benefits of Orphan Drug status in the U.S. is a seven-year period of market exclusivity for the indication, if approved.
https://seekingalpha.com/news/3580728-macrogenics-margetuximab-orphan-drug-in-u-s-for-gastric-cancer

AbbVie to develop antibody therapy for COVID-19

AbbVie (NYSE:ABBV), Harbour BioMed (HBM), Utrecht University (UU) and Erasmus Medical Center (EMC) have entered into a collaboration to develop a novel antibody therapeutic to prevent and treat COVID-19.
The focus will be on advancing the fully human, neutralizing antibody 47D11 discovered by UU, EMC and HBM. This antibody targets the conserved domain of the spike protein of SARS-CoV-2.
Under the terms of the collaboration, AbbVie will support through the preclinical activities and preparations for later-stage preclinical and clinical development work.
AbbVie will receive an option for the exclusive worldwide rights to license the antibody therapy.
https://seekingalpha.com/news/3580690-abbvie-to-develop-antibody-therapy-for-covidminus-19

Thursday, June 4, 2020

Top world docs head-to-head over claims coronavirus ‘no longer exists clinically’

  • Dr Alberto Zangrillo, the head of intensive care at the San Raffaele hospital in Milan in Lombardy (the epicenter of Italy’s coronavirus outbreak), caused a stir on Sunday by telling Italian media that a study by his colleague had shown that the virus was losing its potency.
  • Zangrillo, who is well-known for being the personal doctor of Italy’s former President Silvio Berlusconi.
  • WHO said the coronavirus is still a “killer virus”
A very public dispute has broken out between some of Italy’s, and the world’s, most high-profile doctors after one expert claimed the coronavirus “no longer exists clinically.”
Dr. Alberto Zangrillo, the head of intensive care at the San Raffaele hospital in Milan in Lombardy (the epicenter of Italy’s coronavirus outbreak), caused a stir on Sunday by telling Italian media that a study by his colleague had shown that the virus was losing its potency.
Zangrillo, who is well-known for being the personal doctor of Italy’s former Prime Minister Silvio Berlusconi, said the study showed the virus was weakening and that, “in reality, from the clinical point of view, the virus no longer exists.”
“The swabs that were performed over the last 10 days showed a viral load in quantitative terms that was absolutely infinitesimal compared to the ones carried out on patients a month or two ago,” he told RAI television Sunday, citing a study from Massimo Clementi, director of the Microbiology and Virology Laboratory at the San Raffaele hospital, that is reportedly due to be published shortly.
The comments prompted a swift rebuke from Franco Locatelli, the head of Italy’s top health advisory body, the supreme health council.
“I can only express great surprise and absolute bewilderment for the statements made by Professor Zangrillo. Just look at the number of new cases confirmed every day to have evidence of the persistent circulation of the virus in Italy,” Italian news agency ANSA reported Monday.
The controversy over the comments comes at a delicate time for Italy, where Europe’s coronavirus outbreak was first detected back in February. Lockdown measures are being lifted throughout the country with much of public life reopened. On Wednesday, inter-regional travel will be allowed to resume. To date, Italy has reported 233,197 confirmed cases of the virus and 33,475 deaths. Globally, the virus has infected more than 6.2 million people and at least 375,000 people have died, according to Johns Hopkins University.
The government waded in to the argument on Monday, with one official stating that Zangrillo’s comments were dangerous at a time when caution is crucial.
“Pending scientific evidence to support the thesis that the virus has disappeared … I would invite those who say they are sure of it not to confuse Italians,” Sandra Zampa, an undersecretary at the health ministry, said in a statement, Reuters reported.
“When we are about to open travel between regions and return to a life as normal as possible … we must invite the Italians to be extremely careful,” she said.

Experts vs. experts

The World Health Organization also warned Monday that the virus had not suddenly become less lethal. “This is still a killer virus,” Michael Ryan, executive director of the WHO’s health emergencies program, told a virtual press briefing on Monday.
“We need to be exceptionally careful not to create a sense that, all of a sudden, the virus, by its own volition, has now decided to be less pathogenic. That is not the case at all.” Ryan said the WHO would need to look at the findings in more detail and said the results, and severity of illness, could be determined by an individual’s level of exposure to the virus.
“It may not be the case that the virus is becoming less potent, it may be the case that we are, as a community and as a globe, are successfully reducing the number, intensity and frequency of exposure to that virus, which then on the face of it, then looks weaker.”
Zangrillo is not the only doctor to believe that the virus is weakening, however.
Matteo Bassetti, the director of the infectious diseases clinic of the San Martino hospital in Genoa also said Monday that the virus is no longer the same, based on his experience. The virus “may now be different: the firepower it had two months ago is not the same firepower it has today,” he said, ANSA reported.
“Currently the new coronavirus is circulating less, that is, the viral load in circulation among the population has diminished and this is the effect of both the lockdown and the measures still in place such as use of the masks and distancing.”
https://www.cnbc.com/2020/06/02/claim-coronavirus-no-longer-exists-provokes-controversy.html

NYC reports no new coronavirus deaths for first time since mid-March

The Big Apple marked a major turning point in its battle against the coronavirus pandemic Wednesday with no new confirmed deaths from COVID-19 for the first time since March 12.
“In the face of extraordinary challenges, New Yorkers have gone above and beyond to keep each other safe throughout the crisis,” said City Hall spokeswoman Avery Cohen.
“With hope on the horizon, we will continue to do everything we can to reopen safely without losing sight of the progress we’ve made,” Cohen said.
There were zero additional deaths between Tuesday and Wednesday, according to the city’s Health Department data that is reported with a 24-hour lag.
During that same period earlier this week the city saw just three probable deaths of people who never tested positive for the virus but showed tell-tale symptoms. Those probable deaths could be reclassified as confirmed deaths in the coming days, Cohen said.
There were 500 new fatalities each day during the pandemic’s peak in early April.
The city’s current COVID-19 death toll of 21,752 includes 16,992 confirmed fatalities and 4,760 probable ones.
https://nypost.com/2020/06/04/nyc-reports-no-new-coronavirus-deaths-for-first-time-since-mid-march/

Data is in: no Memorial Day Weekend COVID-19 spike at the Jersey Shore

Governor Phil Murphy is fond of saying that “data determines dates.” If he truly believes that, then the latest data suggests that New Jersey should fully open without delay.
On Wednesday (June 3rd), we learned that Cape May County reported no COVID-19 new cases for the first time since April 5th. Cape May is home to many of the state’s most popular beach resorts including Ocean City, the Wildwoods, and of course the legendary beach town of the same name.

The milestone is significant since the Garden State is now two weeks past the start of Memorial Day Weekend which saw a surge of day trippers and seasonal residents heading to the state’s shore points. Experts believe 5-6 days is the average time period between exposure and the presentation of symptoms.
Further up the coast, the more populous county of Monmouth – home to Belmar and Asbury Park – saw 43 new positive cases; on May 3rd, by contrast, the county saw 110 new cases. Atlantic County saw 30 new cases (less than half of the 63 new positives recorded on May 3rd). Ocean County (Toms River and Seaside Heights) saw an even more dramatic drop: only 28 new cases on June 3rd versus 142 on May 2nd.
The Wildwoods Boardwalk
“Don’t let the facts get in the way of a narrative,” state Senator Mike Testa (R-1), a regular critic of the continued Murphy Administration lockdown, sarcastically quipped when we discussed the latest numbers. “We were asked to flatten the curve… not only has it been flattened, but, Cape May County has crushed the curve. Yesterday, it was reported that there were zero new cases in the county. Waiting until June 15th to partially open while little to no cases are reported does not follow the science – it ignores the science. It’s time to end this economy crushing state shut down.” Testa’s sprawling South Jersey district includes Cape May County.
Although businesses are now allowed to open for curbside-only service or takeout, the continued lockdown measures have kept many businesses closed – including arcades and amusement parks – and the Jersey Shore economy continues to suffer.
The original Murphy goal post for reopening the state was to “flatten the curve” of hospitalizations and new cases; the new goal post position is unclear, though it’s now clear that the curve has flatlined in many New Jersey counties. Murphy has already rejected a regional reopening approach advocated by some freeholder boards.
Trenton’s decision to encourage large-scale George Floyd protests has cast further doubt on the seriousness of the intent behind continued compulsory lockdown measures.
The data is in: no Memorial Day Weekend COVID-19 spike at the Jersey Shore