Applied Genetic Tech up 9% on potential takeover interest

Thinly traded micro cap Applied Genetic Technologies (AGTC +8.5%) perks up on 33% higher volume, albeit on turnover of only 468K shares, in apparent response to a note from Roth Capital Partners that Sanofi (SNY +0.5%) may have an interest in the Florida-based biotech.

The company’s pipeline includes programs in achromatopsia (color blindness), X-linked retinitis pigmentosa, optogenetics, age-related macular degeneration and non-syndromic (not associated with other signs/symptoms) hearing loss/deafness.

https://seekingalpha.com/news/3587892-applied-genetic-tech-up-9-on-potential-takeover-interest

Liminal BioSciences soars on upcoming catalysts for 2020

Liminal BioSciences (LMNL +105.1%) expects to re-submit biologics licensing application (BLA) with the FDA for its lead plasma-derived Ryplazim (plasminogen) for congenital plasminogen deficiency, during Q3.

The company also anticipates to commence multiple ascending dose Phase 1 study of its lead small molecule product candidate fezagepras (PBI-4050) in second half of the year.

In March 2018, the company received FDA Complete Response Letter BLA for Ryplazim, and identified the need for number of changes in the Chemistry Manufacturing and Controls section.

In October 2018, announced positive feedback from FDA Type-C meeting on Ryplazim BLA.

Plasminogen is a naturally occurring protein that is synthesized by the liver and circulates in the blood, and is vital in wound healing, cell migration, tissue remodeling, angiogenesis and embryogenesis.

https://seekingalpha.com/news/3587860-liminal-biosciences-soars-on-upcoming-catalysts-for-2020

Smaller cap COVID-19 vaccine players under pressure on Pfizer data

Investors are apparently reacting to Pfizer and BioNTech’s release of encouraging preliminary early-stage data on COVID-19 vaccine candidate BNT162b1 that showed significant jumps in neutralizing antibodies compared to convalescent plasma.

Members of Big Biopharma are holding up, but others are mostly in the red.

Selected tickers: AstraZeneca (AZN +0.4%), GlaxoSmithKline (GSK +0.3%), Merck (MRK +1.3%), Sanofi (SNY +0.1%), Moderna (MRNA -5.9%), Novavax (NVAX -3.5%), Dynavax Technologies (DVAX -6.4%), Inovio Pharmaceuticals (INO -19.1%), iBio (IBIO -12.4%), Arcturus Therapeutics (ARCT +2.2%), Soligenix (SNGX -0.7%), GeoVax Labs (OTCQB:GOVX -15.5%), Vaxart (VXRT -6.9%), Altimmune (ALT -9.1%), Vir Biotechnology (VIR -7.8%)

https://seekingalpha.com/news/3587833-smaller-cap-covidminus-19-vaccine-players-under-pressure-on-pfizer-data

Moderna chief created demanding environment

The Wall Street Journal reports that Moderna (MRNA -6.6%) CEO Stéphane Bancel has nurtured a high-stress environment at the Boston-area biotech, although his intense leadership has transformed the company from tiny startup with only $2M to its name to one of the leaders in the race to a COVID-19 vaccine sporting a market cap of $22B.

Mr. Bancel, a Frenchman who had the helm at clinical diagnostics firm bioMerieux S.A. before jumping ship, had his doubts early on, unsure of whether his team could get mRNA into human cells, a challenge since solved via the use of lipid nanoparticles.

Its COVID-19 vaccine works by delivering mRNA into cells which instruct them to make a protein resembling the coronavirus spike protein, the antigen that elicits the production of anti-SARS-CoV-2 antibodies.

Key wins for the company are the $240M deal with AstraZeneca for the rights to certain drugs and its cancer vaccine partnership with Merck.

https://seekingalpha.com/news/3587881-moderna-chief-created-demanding-environment-wsj

Sorrento selects COVID-19 vaccine candidate

Sorrento Therapeutics (SRNE +6.9%) perks up on below-average volume in reaction to its statement that it has chosen a COVID-19 vaccine candidate, dubbed T-VIVA-19, to advance into the clinic and, if successful, into the marketplace.

It says T-VIVA-19 is a recombinant fusion protein of the spike protein S1 domain and the Fc portion of the human IgG1 antibody.

The company also says its existing bulk drug substance manufacturing capacity should enable it to make up to 100M doses per month.

https://seekingalpha.com/news/3587858-sorrentoplus-7-selects-covidminus-19-vaccine-candidate

AdaptHealth prices upsized IPO

AdaptHealth (NASDAQ:AHCO) has priced its upsized IPO of 8.0M (from 6.5M) Class A common shares at $15.50 per share. Underwriters’ over-allotment is an additional 1.2M shares. Closing date is July 6.

Gross proceeds should be ~$124M.

Trading kicks off today.

https://seekingalpha.com/news/3587650-adapthealth-prices-upsized-ipo

Myriad Genetics launches GeneSight home collection kit

Myriad Genetics (NASDAQ:MYGN) announces the launch of a new patient home collection kit for its GeneSight Psychotropic test.

Patient DNA for the assay is collected with a cheek swab. Afterward, the patient puts the swab in a prepaid pre-addressed shipping envelope for transport back to Myriad for testing.

https://seekingalpha.com/news/3587658-myriad-genetics-launches-genesight-home-collection-kit