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Thursday, June 25, 2020

PPD adds tests to Covid-19 diagnostic portfolio

PPD (PPD +0.9%) expands its laboratory test portfolio by adding five new molecular, serology and functional assays designed for COVID-19 vaccine and therapy development programs.
These assays have been developed to run on multiple assay platforms and are compatible with high-throughput liquid handling, in order to support large numbers of specimens.
The company also has developed a plate-based functional assay to detect anti-spike antibodies, by inhibiting binding of angiotensin converting enzyme 2 (ACE2) to SARS-CoV-2 spike protein, and prevent infection.

Aptevo rallies on royalty stream from rituximab biosimilar

Thinly traded nano cap Aptevo Therapeutics (APVO +45.0%) jumps on a whopping 292x surge in volume in reaction to its announcement that it will receive a royalty on sales of Pfizer’s (PFE +0.3%) rituxan biosimilar, Ruxience (rituximab-pvvr), for a period of seven years from the product’s first commercial sale (Pfizer launched it in Q1).
The low single-digit royalty relates to an agreement Aptevo acquired as part of its spinoff from Emergent BioSolutions (EBS +2.1%) in 2016. The contract was originally executed between Trubion Pharmaceuticals (subsequently acquired by EBS) and Pfizer unit Wyeth.

Akouos upsizes IPO by 50% as expected pricing increases

Akouos Inc. AKUS, disclosed Thursday that its initial public offering of shares has been upsized by 50%, and the expecting pricing has increased, as the genetic medicine company focused on the treatment of hearing loss now looks to raise $212.5 million. The company is selling 12.5 million shares in the IPO, up from 8.33 million, while the expected IPO price increased to $17 a share from $14 to $16. The stock will list on the Nasdaq under the ticker symbol “AKUS.” With 32.48 million shares to be outstanding after the IPO, Akouos will be valued at $552.2 million. If the underwriters of the IPO, led by BofA Securities, Cowen and Piper Sandler, exercise all the options to buy additional shares, Akouos could raise $244.4 million and be valued at $584.1 million. The company recorded a net loss of $10.4 million on no revenue during the three months ended March 31, compared with a loss of $5.9 million on no revenue over the same period a year ago, while operating expenses rose to $10.5 million from $3.8 million. The company is looking to go public at a time that the Renaissance IPO ETF IPO, +0.02% has rallied 58.5% over the past three months, while the S&P 500 SPX, 0.37% has climbed 23.3%.

New Cochrane review assesses accuracy of antibody tests detecting COVID-19

Today Cochrane, a global independent organization that reviews evidence from research to inform health decision-making, publishes a review of studies looking at the accuracy of COVID-19 antibody tests.
The review shows that antibody tests could have a useful role in detecting if someone has had COVID-19, but that timing is important. The tests were better at detecting COVID-19 in people two or more weeks after their symptoms started, but we do not know how well they work more than five weeks after symptoms started. We do not know if this is true for people who have milder disease or no symptoms, because the studies in the review were mainly done in people who were in hospital. In time, we will learn whether having previously had COVID-19 provides individuals with immunity to future infection.
Antibody tests are an important public health tool to identify individuals with previous COVID-19 disease. This enables assessment of the spread of infection and the need for public health interventions. The review summarizes research evidence available up until the end of April 2020 to see whether antibody tests:
– are accurate enough to diagnose disease in people with or without symptoms of COVID-19, and
– can be used to find out if someone has already had COVID-19.
The immune system of people who have COVID-19 responds by developing proteins in the blood called antibodies that attack the virus. Detecting antibodies in people’s blood may indicate whether they currently have COVID-19 or have had it previously. Whilst detecting current infection is usually done using swab tests within the first 5 days of illness, they may miss infection and are not available to all.
Cochrane researchers from universities across the world led by experts from the University of Birmingham searched through the 11,000 publications on COVID-19 available at the end of April to find studies that reported results of antibody tests in groups of people known to have (or have had) COVID-19 and others known not to have had COVID-19 based. They found a total of 54 relevant studies reporting test results for nearly 16,000 samples. The majority of studies were from China and were carried out in people who had been admitted to hospital and likely to have had severe disease.
The studies looked at three types of antibody, IgA, IgG and IgM. Most tests measured both IgG and IgM, but some measured a single antibody or combinations of the three antibodies. Data were only available for 27 tests, a small fraction of the over 200 tests on the market. Data were available on both laboratory based tests, which require blood samples taken from the veins, and point-of-care tests, which can use finger-prick blood samples. There were not enough data to compare the accuracy of different tests. The authors will continue to update this review over the next few months to provide a more complete summary of the research evidence as it accumulates.
The researchers found that the sensitivity (the proportion of the people who have had COVID-19 that the test can detect) of antibody testing is very closely related to when the test is performed. Tests of the IgG and IgM antibodies at 8 to 14 days after onset of symptoms correctly identified only 70% of people who had COVID-19. However, when the researchers looked at data reported at between 15 and 35 days after symptoms first began, antibody tests accurately detected over 90% of people with COVID-19. There are insufficient studies to estimate the sensitivity of antibody tests beyond 35 days after the beginning of symptoms. The tests only wrongly diagnosed COVID-19 in 1% to 2% of people without COVID-19.
To illustrate what these accuracy figures mean, in a sample of 1000 people where 200 people (20%) really have COVID-19, typical of workers in a hospital setting where COVID-19 patients have been treated:
– 193 people would receive a positive test result but 10 (5%) of those people would not have COVID-19 (known as a false positive result);
– 807 people would receive a negative test result but 17 (2%) of those people would have COVID-19 (known as false negative result).
In a population where COVID-19 was more common there would be more false negatives and fewer false positives.
Studies showed that antibody tests may have a role in diagnosing COVID-19 in patients who have had COVID-19 symptoms for two or more weeks but who have not had a swab (PCR) test or tested negative despite COVID-19-like symptoms.
Professor Jon Deeks, Professor of Biostatistics and head of the Test Evaluation Research Group at the University of Birmingham, explains: “We’ve analyzed all available data from around the globe – discovering clear patterns telling us that timing is vital in using these tests. Use them at the wrong time and they don’t work. While these first COVID-19 antibody tests show potential, particularly when used two or three weeks after the onset of symptoms, the data are nearly all from hospitalized patients, so we don’t really know how accurately they identify COVID-19 in people with mild or no symptoms, or tested more than five weeks after symptoms started.
The researchers also had several concerns about the quality of the studies they found. Studies were small and did not report their results fully. Many papers included multiple samples from the same patients. More than half of the studies were made available before they had been through peer review (publications known as ‘preprints’). In one important UK study the biomarker manufacturers did not approve the identification of the tests that had been evaluated.
Dr Jac Dinnes, who worked on the review with the University of Birmingham team commented, “The design, execution and reporting of studies of the accuracy of COVID-19 tests requires considerable improvement. Studies must report data broken down by time since onset of symptoms. Action is needed to ensure that all results of test evaluations are available in the public domain to prevent selective reporting. This is a fast-moving field and we plan to update this review regularly as more studies are published.”
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Full Citation: Cochrane Database of Systematic Reviews:
Antibody tests for identification of current and past infection with SARS-CoV-2

Remdesivir 1st Covid-19 Treatment Recommended for EU Authorization

Gilead Sciences Inc.’s remdesivir has been endorsed as the first treatment of Covid-19 in the European Union.
The European Medicines Agency said Thursday that it has recommended granting a conditional marketing authorization in the bloc to the antiviral drug for the treatment of coronavirus in patients aged 12 and older who have pneumonia and require supplemental oxygen.
The European Commission now has to grant a decision on the EMA’s recommendation. It aims to do so in the coming week, allowing the product to be marketed in the EU, the EMA said.

Merck to Start Phase 2 Trial for Treatment of Severe Covid-19 Symptoms

Merck KGaA said Thursday that the U.S. Food and Drug Administration has cleared the investigational new drug application for M5049 for the treatment of Covid-19 patients with pneumonia.
The German pharmaceutical and chemicals company said it would initiate a Phase 2 clinical study to investigate whether the use of M5049 could reduce the inflammatory response that can lead to the “cytokine storm”–an overreaction of the body’s immune system–in coronavirus patients with pneumonia.
“Successful intervention with the investigational drug may reduce life-threatening complications of Covid-19, including severe respiratory symptoms,” the company said.
Merck said it expects results from the Phase 2 study around the end of 2020.

Medtronic: Renal Denervation Lowered Blood Pressure in Hypertension

Medtronic plc said new data showed renal denervation with the Medtronic Symplicity Renal Denervation System significantly reduced blood pressure in uncontrolled hypertension patients out to three years.
The study showed RDN led to significant and clinically meaningful reductions in blood pressure that were sustained out to three years post-procedure, with more patients achieving BP below 140 mmHg, while those at very high blood pressure levels experienced drops into lower risk ranges, Medtronic said.
Regardless of the number of anti-hypertensive medications prescribed, a majority of patients with the highest blood pressure showed significant drops at three years, Medtronic said.
“In the largest real-world study of patients receiving renal denervation, we are seeing significant and clinically meaningful reductions in both office and 24-hr blood pressure sustained out to three years post-procedure, which demonstrates the durability of RDN,” said Felix Mahfoud, cardiologist at Saarland University Medical Center in Homburg, Germany, who presented the data during the PCR e-Course 2020 meeting.
The Global SYMPLICITY Registry is the largest study documenting the long-term safety and effectiveness of the Medtronic renal denervation systems in a real-world setting in patients with uncontrolled hypertension. To date, the registry has enrolled more than 2,860 patients treated with RDN and includes three-year follow-up for more than 2,500 patients.