Progenity sets IPO terms

Progenity (PROG) has filed a prospectus for its IPO of ~6.7M common shares at $14 – 16 per share. Gross proceeds should be ~$100M (midpoint).

The molecular testing services provider’s lineup consists of a non-invasive prenatal test for fetal chromosomal disorders, an expanded carrier screen (preconception or early in pregnancy) for genetic diseases, a hereditary cancer screen, a prenatal test for monogenic disease and a portfolio of anatomic and molecular pathology tests.

Selected competitors: LabCorp (NYSE:LH), Quest Diagnostics (NYSE:DGX), Natera (NASDAQ:NTRA), Myriad Genetics (NASDAQ:MYGN), Invitae (NYSE:NVTA)

Progenity on deck for IPO

https://seekingalpha.com/news/3582973-progenity-sets-ipo-terms

Magenta teams up with Beam Therapeutics in blood disorders

Magenta Therapeutics (NASDAQ:MGTA) inks a non-exclusive research and clinical collaboration agreement with Beam Therapeutics (NASDAQ:BEAM) to evaluate its antibody-drug conjugate (ADC) MGTA-117 for conditioning sickle cell disease and beta-thalassemia patients receiving the latter’s base editing therapies.

Conditioning is done to prepare a patient receiving edited cells that need to engraft in the bone marrow to be effective. Currently, this is done via chemotherapy or radiation, both of which are associated with significant toxicities.

MGTA-117 targets only hematopoietic stem and progenitor cells while sparing immune cells, potentially capable of clearing space in bone marrow to support long-term engraftment and rapid recovery.

Under the terms of the partnership, Beam will fund study costs related to its base editors when combined with MGTA-117 and Magenta will be responsible for all other development costs related to the ADC. Each company will retain all commercial rights to their respective candidates and technologies.

https://seekingalpha.com/news/3582874-magenta-teams-up-beam-therapeutics-in-blood-disorders

Forma Therapeutics sets IPO terms

Forma Therapeutics (FMTX) has filed a preliminary prospectus for its IPO of 11,764,706 common shares at $16-18 per share. Gross proceeds (midpoint) should be ~$200M.
https://seekingalpha.com/news/3582875-forma-therapeutics-sets-ipo-terms

Repare Therapeutics sets terms for IPO

Repare Therapeutics (RPTX) has filed a preliminary prospectus for its IPO of 7,352,941 common shares at $16-18 per share. Gross proceeds (midpoint) should be ~$125M.
https://seekingalpha.com/news/3582876-repare-therapeutics-sets-terms-for-ipo

vTv Therapeutics’ TTP399 successful in mid-stage type 1 diabetes study

VTv Therapeutics (NASDAQ:VTVT) is up 45% premarket on the heels of results from the Phase 2 Simplici-T1 study evaluating TTP399 as an adjunct to insulin therapy in adults with type 1 diabetes.

The results demonstrate that TTP399, a once-a-day pill, reduces HbA1c and improves time in range, without increasing hypoglycemia or any signal for adverse events including diabetic ketoacidosis.

Patients randomized to TTP399 achieved better glycemic control (improved HbA1c) while reducing insulin dose (0.41%, p=0.01) as compared to placebo-treated group, where reduction in insulin dose was associated with a worsening in HbA1c.

https://seekingalpha.com/news/3582879-vtv-therapeutics-ttp399-successful-in-mid-stage-type-1-diabetes-study

Fluidigm files for emergency use of saliva-based test for COVID-19

Fluidigm (NASDAQ:FLDM) is up 27% premarket in reaction to its filing for Emergency Use Authorization (EUA) for an extraction-free saliva-based test, Advanta Dx SARS-CoV-2 RT-PCR test, to detect the SARS‑CoV‑2 virus.

The test, developed in collaboration with McDonnell Genome Institute and Washington University School of Medicine, provides an easy-to-administer protocol that does not require collection via invasive nasopharyngeal swab and is processed on the Biomark HD microfluidics platform.

https://seekingalpha.com/news/3582883-fluidigm-files-for-emergency-use-of-saliva-based-test-for-covidminus-19

Iveric Bio’s Zimura shows sustained benefit in eye disorder study

IVERIC bio (NASDAQ:ISEE) announces positive 18-month data from a Phase 3 (listed as a Phase 2 in ClinicalTrials.gov) clinical trial evaluating C5 inhibitor Zimura (avacincaptad pegol) in patients with geographic atrophy (GA) secondary to age-related macular degeneration (AMD).

At month 18, the relative reduction in the mean rate of GA was 28.1% in the Zimura 2 mg arm and 30.0% in the 4 mg arm.

In October 2019, the company announced positive 12-month data from the trial.

A second pivotal study, ISEE2008, testing Zimura 2 mg, will launch this month.

Management will host a conference call today at 8:00 am ET to discuss the results.

https://seekingalpha.com/news/3582896-iveric-bios-zimura-shows-sustained-benefit-in-eye-disorder-study