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Wednesday, July 15, 2020

Abbott Laboratories Q2 2020 Earnings Preview

Abbott Laboratories (NYSE:ABT) is scheduled to announce Q2 earnings results on Thursday, July 16th, before market open.
The consensus EPS Estimate is $0.42 (-48.8% Y/Y) and the consensus Revenue Estimate is $6.85B (-14.2% Y/Y).
Over the last 2 years, ABT has beaten EPS estimates 63% of the time and has beaten revenue estimates 63% of the time.
Over the last 3 months, EPS estimates have seen 9 upward revisions and 8 downward. Revenue estimates have seen 10 upward revisions and 4 downward.

EU health body considering airborne spread of virus as well as droplets

The EU’s public health body is assessing risks posed by ventilation systems and other settings at workplaces for the transmission of the novel coronavirus through the air, in addition to through droplets, its head said.
The announcement by the European Centre for Disease Prevention (ECDP) could show a commitment tackling the potential spread through fine airborne mists known as aerosols, which the World Health Organization (WHO) acknowledged as a possible danger only last week.
While the virus is believed to spread mainly through contaminated droplets, Europe’s ECDC has long warned it might also spread through the air in mists. That could pose extra risk in enclosed spaces, especially with poor ventilation, risks that could rise in winter as people spend more time indoors.
Andrea Ammon, who chairs the ECDC, told Reuters there was still no evidence to show what proportion of cases were spread by aerosols rather than droplets, but “we know both are a possibility”.
Last week, the WHO said the virus could spread through aerosols, although it stopped short of saying this had been confirmed. The global health body had come under pressure from scientists, who wrote a letter calling on it to acknowledge the potential for airborne spread.
Ammon said the ECDC was assessing risks in the workplace, which would be heightened by airborne transmission, after several localised outbreaks in plants throughout Europe, with the most serious in a slaughterhouse in Germany in June.
“We are working on a technical report on occupational settings and risk factors for such outbreaks,” she said, adding dangers posed by ventilation systems were being assessed.
Many of the social distancing and hygiene guidelines that countries have adopted during the COVID-19 pandemic are based on preventing contact with droplets of saliva or mucous expelled by carriers of the virus when they cough, sneeze or speak. Preventing airborne spread could require other strategies.
Ammon said the ECDC still assumes droplets are the most common vehicle of transmission. She said there was no need at this stage to update the agency’s guidance, and reiterated that it was crucial that people continue to respect social distancing rules and wear face masks.

Positive news on Oxford/AstraZeneca Covid-19 vaccine may come Thursday: ITV

Positive news on initial trials of the University of Oxford’s potential COVID-19 vaccine that has been licensed to AstraZeneca could be announced as soon as Thursday, ITV’s political editor Robert Peston said, citing a source.
The potential vaccine is already in large-scale Phase III human trials to assess whether it can protect against COVID-19, but its developers have yet to report Phase I results which would show whether it is safe and whether or not it induces an immune response.
The developers of the vaccine said this month they are encouraged by the immune response they have seen in trials so far and were expecting to be able to publish Phase 1 data by the end of July.
The data are expected to be published by The Lancet medical journal.
A spokeswoman for Oxford University told Reuters the team was awaiting confirmation from a scientific journal of a publication date and time for the data, but gave no further details. “(We) are not able to confirm when it will be released,” she said.
Peston said in a blog post: “I am hearing there will be positive news soon (perhaps tomorrow) on initial trials of the Oxford Covid-19 vaccine that is backed by AstraZeneca.”
More than 100 vaccines are being developed and tested around the world to try to stop the COVID-19 pandemic, which has killed hundreds of thousands and ravaged the global economy.

Over 224,000 COVID-19 deaths seen in US by Nov. 1: University of Washington IHME

A newly revised University of Washington model projects the U.S. death toll from COVID-19 will climb to just above 224,000 by Nov. 1, up 16,000 from a prior forecast, due to rising infections and hospitalizations in many states.
But the latest forecast from the university’s Institute for Health Metrics and Evaluation (IHME), released late on Tuesday, also predicts the death toll could be reduced by 40,000 if nearly all Americans wore masks in public.
“Use of masks is up, but not as high as it should be. If 95% of Americans wore masks each time they left their homes, infection rates would drop, hospitalizations would drop, and forecast deaths would drop,” the IHME said in a statement.
The IHME’s new forecast came after Alabama, Florida and North Carolina on Tuesday reported record daily increases in deaths from COVID-19, marking grim new milestones of a second wave of infections surging across much of the U.S.
The new IHME forecast – 224,089 U.S. lives lost by Nov. 1 – was revised upward from the 208,254 deaths projected on July 7.
At least 136,052 Americans have died from COVID-19, the illness caused by the novel coronavirus, while reported U.S. infections have surpassed 3.4 million, according to a tally by Reuters.
The IHME’s projections have been cited in the past by the White House and are watched closely by public health officials.

Atossa Therapeutics up 24% on encouraging COVID-19 nasal spray data

Atossa Therapeutics (ATOS +23.8%announces positive results from in vitro testing of AT-301, its proprietary COVID-19 nasal spray drug candidate.
Preliminary data showed that AT-301 inhibited SARS-CoV-2 infectivity of VERO cells in lab culture, the standard model for initial screening of COVID-19 drug candidates.
The company says AT-301 contains ingredients that can potentially block SARS-CoV-2 viral entry gene proteins in nasal epithelial cells by interfering with spike protein activation.
A Phase 1 clinical study is next up.
Atossa has filed provisional patent applications with the USPTO directed to the formulation, manufacturing, and methods of use of AT-301.

Oramed on go with late-stage studies on oral insulin

Oramed Pharmaceuticals (ORMP +8.6%announces that it has concluded its End of Phase 2 meeting with the FDA regarding its oral insulin capsule (ORMD-0801) for type 2 diabetics.
The agency outlined its expectations for Phase 3 studies and potential marketing application.
In March, the company announced initial End-of-Phase 2 meeting with the FDA related to Chemistry, Manufacturing and Controls data

Early-stage study underway on Essa Pharma’s EPI-7386 in prostate cancer

July 15, 2020

The first participant has been dosed in a 40-subject Phase 1 clinical trial evaluating ESSA Pharma’s (NASDAQ:EPIX) EPI-7386 in patients with metastatic castration-resistant prostate cancer who have failed to respond to standard-of-care therapies.
The primary efficacy measure is the proportion of patients achieving at least a 50% decrease in PSA through month 5.
The estimated primary completion date is August 2022.
EPI-7386 is an orally available small molecule inhibitor of the N-terminal domain of the androgen receptor.