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Saturday, August 29, 2020

Athira, with data on 11 patients, plans $100M IPO for pivotal Alzheimer’s trial

Athira Pharma has filed to raise $100 million on public markets to take a treatment for Alzheimer’s and Parkinson’s diseases through phase 2 clinical trials. The IPO will fund development of an HGF/MET activator Athira thinks can treat neurological diseases by promoting a natural regenerative system.

The biotech, formerly known as M3 Biotechnology, is moving lead candidate ATH-1017 into a pivotal phase 2/3 Alzheimer’s trial on the strength of an early-phase program that enrolled 11 patients with mild to moderate disease and 77 healthy volunteers. After eight days of treatment, P300 latency in the Alzheimer’s patients had “returned to levels close to those observed in healthy elderly subjects.” 

Athira attributes the change in P300 latency, which it expects to correlate to improved cognition, to the “long-term regeneration of neuronal connections and the improvement in brain function.” While Athira is yet to link ATH-1017 to improved cognition, it has persuaded investors to bankroll its plans.

In June, Perceptive Advisors led an $85 million series B round, securing itself a 12% stake in Athira. Now, Athira is turning to public investors for more money to support its clinical development plans.

Using the IPO haul, Athira plans to start the phase 2/3 Alzheimer’s trial by the end of the year, setting it up to deliver data on the effect of ATH-1017 on the Global Statistical Test in 2022. In parallel, Athira will run another phase 2 Alzheimer’s trial “to better understand the overall effects of ATH-1017 on working memory processing speed and cognitive measures.” That trial is also due to start this year and post data in 2022. The two trials could set Athira up to file for approval of ATH-1017.

Athira also plans to start a phase 2 trial in Parkinson’s disease dementia by the end of next year. The trial will assess the effect of ATH-1017 on P300 latency and the Parkinson’s Disease-Cognitive Rating Scale. Athira expects to have enough money left over to fund IND-enabling studies of two follow-up candidates: neuropsychiatric prospect ATH-1019 and neuropathy treatment ATH-1018.

The development timeline gives Athira, which had just 14 full-time employees as of the end of June, a shot at ending the long wait for a new Alzheimer’s drug in the next few years. However, by its own admission, Athira only has data “from a relatively small number of subjects” and, as has happened throughout the history of Alzheimer’s R&D, could fail to translate early promise into pivotal data that support FDA approval. Athira’s use of electroencephalogram (EEG) methods is another possible issue.

“In our phase 1a and 1b clinical trials, data from certain subjects were not obtained due to problems encountered with the placement of the EEG electrodes and other technical issues, such as subject movement. While we believe the lack of data from these subjects did not impact the reliability or interpretation of the remaining data from these trials, we may in the future face similar issues with EEG methods, which could compromise future clinical trial results,” Athira wrote in its IPO filing. 


Vir and Alnylam post hep B data peek

The battle to be the first RNAi to help cure hepatitis B is heating up as Vir Biotechnology and partner Alnylam release ongoing data and rivals line up with their own results at the International Liver Congress (ILC) 2020.

We’ve had to wait: ILC 2020 was meant to happen back in April in London, but COVID-19 chaos caused its delay and digitization until this week.

And while nonalcoholic steatohepatitis remains a key focus for investors out of this event (and Gilead Sciences is dropping some new data on Saturday), hepatitis B, a condition that affects 300 million people worldwide and can cause long-term liver damage if left untreated, still remains a major disease target.

It’s been a tough nut to crack, with the likes of Roche and Arbutus falling to the wayside in recent years after flops and safety worries. In clinical terms, a functional cure for hep B would cut levels of the virus’s surface antigen and DNA to undetectable levels—and keep them there six months after the patient finished treatment.

What Gilead managed in hepatitis C with Sovaldi and Harvoni, both of which can effectively cure people of the disease, a number of big-name biotechs and pharmas are now aiming to achieve with hepatitis B.

There are already several antivirals approved to treat chronic hepatitis B, including Roche’s Pegasys, a pegylated interferon, but nothing as successful as what we now have to treat hepatitis C.

The new hope is coming from RNA technology and its potential to cure this disease. George Scangos’ Vir and partner Alnylam, an RNA specialist (and the first company to even have an RNA drug approved), alongside phoenix from the flames Arrowhead and partner Johnson & Johnson, are leading the hep B RNA race.

With Vir battling to find a treatment for COVID-19, its work in hep B is being largely ignored by investors, with its Alnylam partnership also now extending to COVID-19; however, it still remains a major part of the pair’s R&D pipeline.

All four companies presented at ILC 2020 today, with Vir and Alnylam unveiling a peek at their ongoing phase 2 of its RNA hopeful VIR-2218 in patients with chronic hepatitis B virus (HBV) on nucleotide/nucleoside reverse transcriptase inhibitors (NRTIs), the current standard of care.

Their therapy is designed to target a conserved region in the HBV X gene. This drug, originally called ALN-HBV-02 before Alnylam licensed it to Vir in 2017, came as part of an infectious disease deal worth up to $1 billion.

VIR-2218 is designed to silence all HBV transcripts, from both cccDNA and integrated DNA, across all 10 HBV genotypes.

The main thrust of Vir’s study is focused on lowering the levels of a surface antigen called HBsAg, one of four hep B transcripts the virus used to duplicate and rebound.

It found that in the ongoing test of 24 patients, a subset of patients in the 50-mg dose level “have achieved maximal decline in HBsAg levels at Week 12,” with a mean decline of 1.5 log10 from baseline in VIR-2218 treated patients.

Vir said that declines in HBsAg “continue in other cohorts with at least two patterns observed: an early response and a  delayed response.” The test did not raise any safety scares.

In July, Vir also kick-started a phase 2 combo test of VIR-2218 and pegylated interferon-alpha, with these sorts of cocktails the likely best way of creating that functional cure. An initial data drop from this is “anticipated in 2021”, Vir said.

Its key rivals using a similar RNA approach are Arrowhead and partner J&J, which a few years back penned a pact with the biotech worth a few hundred million dollars upfront, but with a major $3.5 billion biobucks for the RNAi hep B program.

They both also released data at ILC 2020 today. Investigators here administered three doses of JNJ-3989 to participants in 56 days to evaluate whether giving the RNAi therapy in combination with an existing treatment can degrade viral RNA and inhibit DNA formation to reduce levels of HBsAg.

The study then tracked the subjects for 48 weeks after the administration of the final dose of JNJ-3989.

By the end of the follow-up, 15 of the 38 patients who initially responded to JNJ-3989 still had a -1.0 log10 IU/mL or greater reduction in HBsAg. The average 392-day reduction in HBsAg among the 15 sustained responders was around -2.0 log10 IU/mL.

Bigger and longer-term studies will be needed for both Vir/Alnylam and J&J/Arrowhead, but with safety seemingly not an issue and HBsAg levels generally in the right direction, all four will be hopeful bigger tests will also see positive results.

All four had also been battling another RNAi hopeful, Arbutus, but last year this biotech canned its Roivant-backed oral capsid inhibitor AB-506 in chronic hepatitis B after two healthy people in a phase 1 study ended up developing the very disease the drug was supposed to treat.

Swiss major Roche also ditched an antisense hep B drug back in January but then rebounded after it snagged a $200 million deal with Dicerna and its phase 1 effort DCR-HBVS, another RNAi therapy designed to knock down genes needed to make HBV mRNA and get the virus into liver cells.

The drug, now known as RG6346, is further behind its rivals. And Dicerna reported positive data in early August from its phase 1, with Roche now taking over for its midstage tests.


Peter Thiel-backed Compass Pathways files for U.S. IPO

Peter Thiel-backed Compass Pathways Plc on Friday filed for an initial public offering (IPO), adding to a flurry of filings from tech companies during a week that has already seen Palantir Technologies and Snowflake Inc make their IPO paperwork public.


The United Kingdom-based mental healthcare company, in which Thiel owns a 7.54% stake, said it plans to list its American depositary shares on the Nasdaq under the ticker “CMPS”.

The company posted a net loss of $24.83 million (18.80 million pounds), or 30 cents per share, in the first six months of the year. (https://bit.ly/2QCLKOg)

Silicon Valley billionaire Thiel is a co-founder of PayPal and was Facebook Inc first major investor. He is also the chairman of Palantir Technologies, which will go public through a direct listing in the coming weeks.

Several companies have been looking to ride the stunning recovery in U.S. capital markets from the COVID-19 pandemic that earlier this year forced them to postpone their debuts.

Cowen, Evercore ISI and Berenberg are the joint book-running managers for the IPO.


Another COVID Mystery: Patients Survive Ventilator, But Linger in a Coma

Leslie Cutitta said yes, twice, when clinicians from Massachusetts General Hospital in Boston called asking whether she wanted them to take — and then continue — extreme measures to keep her husband, Frank Cutitta, alive.

The first conversation, in late March, was about whether to let Frank go or to try some experimental drugs and treatments for COVID-19. The second call was just a few days later. Hospital visits were banned, so Leslie couldn’t be with her husband or discuss his wishes with the medical team in person. So she used stories to try to describe Frank’s zest for life.

“Frank used to joke that he wanted to be frozen, like Ted Williams, until they could figure out what was wrong with him if he died,” said Leslie Cutitta. It wasn’t a serious end-of-life discussion, but Cutitta knew her husband would want every possible lifesaving measure deployed.

So the Cutittas hung on and a small army of ICU caregivers kept working. On April 21, after 27 days on a ventilator, Frank’s lungs had recovered enough to remove the breathing tube.

After the removal, it typically takes hours, maybe a day, for the patient to return to consciousness. The body needs that time to clear the drugs that keep the patient sedated and comfortable — able to tolerate intubation and mechanical ventilation.

But doctors across the US and in other countries have noted a troubling phenomenon associated with some COVID cases: Even after extubation, some patients remain unconscious for days, weeks, or longer. There’s no official term for the problem, but it’s being called a “prolonged” or “persistent” coma or unresponsiveness.

Frank Cutitta, 68, was one of those patients. He just didn’t wake up.

“It was a long, difficult period of not — just not knowing whether he was going to come back to the Frank we knew and loved,” said Leslie Cutitta. “It was very, very tough.”

Doctors studying the phenomenon of prolonged unresponsiveness are concerned that medical teams are not waiting long enough for these COVID-19 patients to wake up, especially when ICU beds are in high demand during the pandemic.

As Frank’s unresponsive condition continued, it prompted a new conversation between the medical team and his wife about whether to continue life support. Although he no longer needed the ventilator, he still required a feeding tube, intravenous fluids, catheters for bodily waste, and some oxygen support.

Leslie Cutitta recalled a doctor asking her: “If it looks like Frank’s not going to return mentally, and he’s going to be hooked up to a dialysis machine for the rest of his life in a long-term care facility, is that something that you and he could live with?”

She struggled to imagine the restricted life Frank might face. Every day, sometimes several times a day, she would ask Frank’s doctors for more information: What’s going on inside his brain? Why is this happening? When might something change?

Their candid and consistent answer was: We don’t know.

“Because this disease is so new and because there are so many unanswered questions about COVID-19, we currently do not have reliable tools to predict how long it will take any individual patient to recover consciousness,” said Dr Brian Edlow, a critical care neurologist at Mass General.

Given all the unknowns, doctors at the hospital have had a hard time advising families of a patient who has remained unresponsive for weeks, post-ventilator. Some families in that situation have decided to remove other life supports so the patient can die. Edlow can’t say how many.

“It is very difficult for us to determine whether any given patient’s future will bring a quality of life that would be acceptable to them,” Edlow said, “based on what they’ve told their families or written in a prior directive.”

Theories abound about why COVID-19 patients may take longer to regain consciousness than other ventilated patients, if they wake up at all. COVID-19 patients appear to need larger doses of sedatives while on a ventilator, and they’re often intubated for longer periods than is typical for other diseases that cause pneumonia. Low oxygen levels, due to the virus’s effect on the lungs, may damage the brain. Some of these patients have inflammation related to COVID-19 that may disrupt signals in the brain, and some experience blood clots that have caused strokes.

“So there are many potential contributing factors,” Edlow said. “The degree to which each of those factors is playing a role in any given patient is still something we’re trying to understand.”

One of the first questions researchers hope to answer is how many COVID-19 patients end up in this prolonged, sleeplike condition after coming off the ventilator.

“In our experience, approximately every fifth patient that was hospitalized was admitted to the ICU and had some degree of disorders of consciousness,” said Dr Jan Claassen, director of neurocritical care at New York’s Columbia University Medical Center. “But how many of those actually took a long time to wake up, we don’t have numbers on that yet.”

An international research group based at the University of Pittsburgh Medical Center expects to have in September some initial numbers on COVID-19 brain impacts, including the problem of persistent comas. Some COVID patients who do eventually regain consciousness still have cognitive difficulties.

To try to get a handle on this problem at Columbia, Claassen and colleagues created a “coma board,” a group of specialists that meets weekly. Claassen published a study in 2019 that found that 15% of unresponsive patients showed brain activity in response to verbal commands. A case reported by Edlow in July described a patient who moved between a coma and minimal consciousness for several weeks and was eventually able to follow commands.

This spring, as Edlow observed dozens of Mass General COVID-19 patients linger in this unresponsive state, he joined Claassen and other colleagues from Weill Cornell Medical College to form a research consortium. The researchers are sharing their data to determine the cause of prolonged coma in COVID-19 patients, find treatments and better predict which patients might eventually recover, given enough time and treatment.

The global research effort has grown to include more than 222 sites in 45 countries. Prolonged or persistent comas are just one area of research, but one getting a lot of attention.

Dr Sherry Chou, a neurologist at the University of Pittsburgh Medical Center, is leading the international effort.

Chou said families want to know “whether a patient can wake up and be themselves.” Answering that question “depends on how accurate we are at predicting the future, and we know we’re not very accurate right now.”

A CT scan of Frank Cutitta’s brain showed residue from blood clots but was otherwise “clean.”

“From what they could tell, there was no brain damage,” Leslie Cutitta said.

And then, on May 4, after two weeks with no signs that Frank would wake up, he blinked. Leslie and her two daughters watched on FaceTime, making requests such as “Smile, Daddy” and “Hold your thumb up!”

“At least we knew he was in there somewhere,” she said.

It was another week before Frank could speak and the Cutittas got to hear his voice.

“We’d all be pressing the phone to our ears, trying to catch every word,” Leslie Cutitta recalled. “He didn’t have a lot of them at that point, but it was just amazing, absolutely amazing.”

Frank Cutitta spent a month at Spaulding Rehabilitation Hospital. He’s back home now, in a Boston suburb, doing physical therapy to strengthen his arms and legs. He said he slurs words occasionally but has no other cognitive problems.

While he was in the ICU, Cutitta’s nurses played recorded messages from his family, as well as some of his favorite music from the Beach Boys and Luciano Pavarotti. Frank Cutitta said he believes the flow of these inspiring sounds helped maintain his cognitive function.

The Cutittas said they feel incredibly lucky. Leslie Cutitta said one doctor told the family that during the worst of the pandemic in New York City, most patients in Frank’s condition died because hospitals couldn’t devote such time and resources to one patient.

“If Frank had been anywhere else in the country but here, he would have not made it,” Leslie Cutitta said. “That’s a conversation I will never forget having, because I was stunned.”

Frank Cutitta credits the Mass General doctors and nurses, saying they became his advocates.

It “could have gone the other way,” he said, if clinicians had decided “‘Look, this guy’s just way too sick, and we’ve got other patients who need this equipment.’ Or we have an advocate who says, ‘Throw the kitchen sink at him,'” Frank said. “And we happened to have the latter.”

Many hospitals use 72 hours, or three days, as the period for patients with a traumatic brain injury to regain consciousness before advising an end to life support. As COVID-19 patients fill intensive care units across the country, it’s not clear how long hospital staff will wait beyond that point for those patients who do not wake up after a ventilator tube is removed.

Joseph Giacino, director of rehabilitation neuropsychology at Spaulding, said he’s worried hospitals are using that 72-hour model with COVID-19 patients who may need more time. Even before the coronavirus pandemic, some neurologists questioned that model. In 2018, the American Academy of Neurology updated its guidelines for treating prolonged “disorders of consciousness,” noting that some situations may require more time and assessment.

Some patients, like Frank Cutitta, do not appear to have any brain damage. Whatever caused his extended period of unconsciousness cleared.

Unless a patient has previously specified that she does not want aggressive treatment, “we need to really go slow,” said Giacino, “because we are not at a point where we have prognostic indicators that approach the level of certainty that is necessary before making a decision that we should stop treatment because there is no chance of meaningful recovery.”

Doctors interviewed for this story urged everyone to tell their loved ones what you expect a “meaningful recovery” to include. If confronted with this situation, family members should ask doctors about their levels of certainty for each possible outcome.

Some medical ethicists also urge clinicians not to rush when it comes to decisions about how quickly COVID-19 patients may return to consciousness.

“A significant number of patients are going to have a prolonged recovery from the comatose state that they’re in,” said Dr Joseph Fins, chief of medical ethics at Weill Cornell Medical College. “This is a time for prudence because what we don’t know can hurt us and can hurt patients.”

Leslie and Frank Cutitta have a final request: Wear a mask.

“This disease is nothing to be trifled with,” Leslie Cutitta said. “It’s a devastating experience.”

Frank Cutitta worries about all of the patients still suffering with COVID-19 and those who have survived but have lasting damage.

“I’m not considering myself one of those,” he said, “but there are many, many people who would rather be dead than left with what they have after this.”