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Monday, June 7, 2021

AbbVie: Combo May Provide Remission for Chronic Lymphocytic Leukemia

 The fixed-duration combination met the primary endpoint of complete response rate at 56% among patients with previously untreated CLL, 70 years old or younger

- At 24 months, progression-free survival was 95% and overall survival (OS) was 98%

- The safety profile of the combination was generally consistent with known adverse events (AEs) for each agent and no new safety signals were identified

- Data to be presented at the virtual American Society of Clinical Oncology (ASCO) Annual Meeting (Abstract #7501)

AbbVie (NYSE: ABBV) today announced new data from the Phase 2 CAPTIVATE (PCYC-1142) study investigating IMBRUVICA® (ibrutinib) in combination with VENCLEXTA®/VENCLYXTO® (venetoclax), an all-oral, once-daily, chemotherapy-free, fixed-duration investigational combination, for patients with previously untreated chronic lymphocytic leukemia (CLL) or small lymphocytic lymphoma (SLL) during an oral presentation at the virtual 2021 American Society of Clinical Oncology (ASCO) Annual Meeting (Abstract #7501). The ibrutinib and venetoclax cohort met its primary endpoint of complete response (CR) rate of 56% (95% CI 48-64) among patients without del(17p), 70 years old or younger and with 27.9 months of follow up. This rate was higher than the 37% minimum meaningful rate study assumption (P<0.0001). The CR rate was consistent across all patients in the study including high-risk CLL patient groups. Furthermore, 24-month progression free survival (PFS) and overall survival (OS) were 95% and 98%, respectively.

https://finance.yahoo.com/news/captivate-study-shows-imbruvica-ibrutinib-153000741.html


Atossa to Release Final Data June 9 from Phase 2 Study of Endoxifen in Breast Cancer

 Atossa Therapeutics, Inc. (Nasdaq: ATOS), a clinical-stage biopharmaceutical company seeking to discover and develop innovative medicines in oncology and infectious disease with a current focus on breast cancer and COVID-19, announces that it will hold a webinar at 8 am Pacific Time on June 9, 2021 to release and discuss final data from its Phase 2 study of Endoxifen administered to breast cancer patients prior to surgery. The webinar will be attended by Dr. Steven Quay, CEO and President, Kyle Guse, CFO and General Counsel, and Dr. B. Heather Fraser, VP Clinical, Regulatory and CMC.

To register to join the complimentary ZOOM-based webinar event, please visit Tribe Public LLC at ATOS.TribePublic.com. Registered participants may email questions for Atossa’s management to Tribe Public prior to the event at research@tribepublic.com or share their questions via the ZOOM chat feature during the event. Tribe Public’s Managing Member, John F. Heerdink, Jr., will host the event and relay questions to management.

https://finance.yahoo.com/news/atossa-therapeutics-release-final-data-130000729.html

FDA grants historic approval to Alzheimer’s drug designed to slow cognitive decline

 The Food and Drug Administration on Monday approved the first new treatment for Alzheimer’s disease in nearly two decades, a landmark decision that has been eagerly awaited by millions of Americans diagnosed with the condition but that will be hotly contested by some in the scientific community who doubt the drug’s effectiveness.

While other drugs treat symptoms of Alzheimer’s, the new medicine, called Aduhelm, is the first to attack what some believe is an underlying cause of the disease and slow cognitive decline, albeit marginally. It does so by eliminating clumps of a toxic protein believed to destroy neurons and cause dementia. Aduhelm is not a cure for Alzheimer’s, and it doesn’t reverse the disease’s progression.

The drug — which just two years ago was declared a stunning failure — is now expected to generate billions of dollars in revenue for its maker, Biogen.

“This historic moment is the culmination of more than a decade of groundbreaking research in the complex field of Alzheimer’s disease,” Biogen CEO Michel Vounatsos said in a statement. “We believe this first-in-class medicine will transform the treatment of people living with Alzheimer’s disease and spark continuous innovation in the years to come.”

But the approval of Aduhelm, also known by its scientific name aducanumab, is all but sure to become one of the most controversial and disputed decisions on a drug application in recent years. The FDA granted marketing clearance to the drug over the strong objections of a panel of independent experts it convened in November. Those advisers reviewed Biogen’s clinical data and concluded overwhelmingly that there was insufficient evidence that the treatment had significant benefits for patients. They argued the drug should not be approved, as have many outside experts. Others saw enough evidence of efficacy — and a desperate need for new treatments.

But the approval of Aduhelm, also known by its scientific name aducanumab, is all but sure to become one of the most controversial and disputed decisions on a drug application in recent years. The FDA granted marketing clearance to the drug over the strong objections of a panel of independent experts it convened in November. Those advisers reviewed Biogen’s clinical data and concluded overwhelmingly that there was insufficient evidence that the treatment had significant benefits for patients. They argued the drug should not be approved, as have many outside experts. Others saw enough evidence of efficacy — and a desperate need for new treatments.

Instead of judging Biogen’s treatment solely on its effects on cognition, the FDA granted a conditional approval based on Aduhelm’s ability to clear the toxic proteins, called beta-amyloid. In order to continue marketing the drug, Biogen will need to complete a large clinical trial to confirm that removing the plaque has cognitive benefits, the FDA said. If that study fails, the FDA has the authority to rescind its approval.

In approving the drug on a conditional basis, the agency departed from decades of regulatory precedent, setting a new bar for treatments with considerable potential but unproven benefits — a standard that could also be applied to other devastating diseases.

Aduhelm’s development has sharply divided Alzheimer’s experts. Now that Aduhelm is approved, they face a new challenge: prescribing the drug without overselling its effects.

“For patients who qualify, I’m hopeful for them,” said Ronald Petersen, a neurologist who leads the Mayo Clinic Alzheimer’s Disease Research Center. “Now we have a potential treatment for them that may modify the underlying disease course. But the largest responsibility for us is to educate patients and physicians as to what this means. This is not going to be penicillin for Alzheimer’s disease.”

To many patients and their caregivers, Aduhelm’s approval provides hope for a better life, despite the drug’s limitations. Alzheimer’s affects nearly 6 million people in the U.S. Current medicines for the disease have only short-term effects on symptoms and bring side effects that make them unusable for some patients.

Aduhelm, which is indicated for the roughly 2 million patients with early-stage Alzheimer’s, offers the promise of treating the root cause of the disease.

“I know this medication isn’t going to save my life. I know it’s not a cure,” said Jeff Borghoff, who, at 57, has been living with the symptoms of Alzheimer’s for six years. Borghoff has been receiving Biogen’s drug on and off since 2018, first in a truncated Phase 3 trial and then in an extension study. He has seen improvements in his cognition and ability to focus, he said, which has been massively positive for his family.

“I just saw my middle daughter get married,” Borghoff said. “She’s talking about having kids now. I have two other kids talking about marriage. That’s what I want. I want more time to spend with my family so that I can create memories for myself and for them. Ultimately, I’ll lose those memories with this disease, but they won’t.”

Biogen did not immediately disclose what it would charge for Aduhelm, but analysts expect it to cost between $10,000 and $25,000 per year, which would place it among the most expensive medicines marketed to primary care physicians.

The treatment, administered intravenously once a month, is approved for patients with early-stage Alzheimer’s who have had a PET scan confirming the presence of beta-amyloid in their brains.

For decades, scientists who study Alzheimer’s have focused much of their research on amyloid. A succession of companies including Eli Lilly, Pfizer, Roche, and Merck have attempted to treat Alzheimer’s with various types of antibody drugs that work by targeting and eliminating beta-amyloid — all without success.

Biogen believed it could succeed where the others failed; it designed Aduhelm to be more potent and therefore better able to eliminate amyloid plaques than earlier drugs. The company also focused on administering Aduhelm to people with mild cognitive impairment or the earliest signs of Alzheimer’s, before brain cells were too damaged to stem the tide of the disease.

Biogen tested Aduhelm in two identically designed, Phase 3 randomized, placebo-controlled clinical trials called Engage and Emerge. In March 2019, both studies were halted after independent monitors, looking at data during an interim analysis, concluded that Aduhelm was unlikely to benefit patients. In scientific parlance, the drug was deemed to be “futile” — and appeared to join the long list of failed Alzheimer’s treatments.

But then in October 2019, Biogen announced a new analysis based on previously unavailable data that showed Aduhelm slowed cognitive decline in Alzheimer’s patients in one of the studies. It was a success in Emerge, achieving the primary goal with statistical significance. But the benefit, measured by tests of cognition and function, was small: The difference between Aduhelm and placebo was a fraction of a point on an 18-point scale. Biogen performed the new analysis on the Engage study as well, but here, Aduhelm still failed.

While Aduhelm’s effect on cognition was debatable, both studies found that the drug was markedly effective at removing amyloid from patients’ brains. Over 78 weeks, patients who received the approved dose of Aduhelm saw roughly 30% reductions in amyloid, as measured by PET scan, compared to those on placebo. About 40% of clinical trial patients who got the approved dose of Aduhelm developed painful brain swelling.

Biogen submitted both studies — one positive, the other negative — to the FDA in July 2020. The company’s decision to seek approval of the drug based on studies that were first halted, then reopened, and reanalyzed with mixed results, generated significant controversy, as did the FDA’s extended review.

During an advisory panel meeting in November 2020, Billy Dunn, the top FDA official in charge of the Aduhelm review, acknowledged working closely with Biogen on its reanalysis of the Phase 3 clinical trials. Dunn also expressed support for Aduhelm and favored its approval.

However, 10 of the 11 outside experts invited by the FDA to review the same Aduhelm data at the November meeting determined that a single positive study was insufficient to show convincing proof that the treatment was slowing cognitive decline in people with Alzheimer’s. The other panelist voted “uncertain.” Some of the outside experts went further, criticizing Dunn and the FDA for the way they worked alongside Biogen, which they said threatened the agency’s status as an independent arbiter of drug efficacy and safety.

The approval of Aduhelm will be a boon to Biogen’s bottom line and its stock price, although how much is still an open question. Demand from patients and their caregivers is expected to be sky high, but Biogen’s ability to treat them — and generate revenue — could be slowed by reimbursement barriers established by insurers.

Last month, the Institute for Clinical and Economic Review, a nonprofit that measures the value of new medicines, said Aduhelm would be cost-effective if it is priced between $2,500 and $8,300 a year due to “insufficient” evidence that the drug works, according to a preliminary analysis. That assessment could give insurers more reasons to hold back on the treatment.

The logistics of receiving Aduhelm will also be a challenge. Patients will have to undergo expensive brain scans to determine eligibility for Aduhelm, and then the drug must be administered monthly via an intravenous infusion at a doctor’s office or similar health care facility.

Even with challenges to the price and logistics, Aduhelm has the potential to generate U.S. sales in the range of $5 billion to $6 billion per year for Biogen, said Umer Raffat, an analyst at Evercore ISI, who uses a $10,000 per year price tag.

Brian Abrahams, an analyst at RBC Capital, models peak sales of the drug reaching $5 billion in the U.S. at a slightly lower $9,600 per year cost. Abrahams assumes 18% of patients with mild or moderate Alzheimer’s will receive Aduhelm.

https://www.statnews.com/2021/06/07/fda-grants-historic-approval-to-alzheimers-drug-designed-to-slow-cognitive-decline/

Biogen's aducanumab crosses FDA finish line just in time to save its business

 The verdict is in: The FDA has approved Biogen’s controversial Alzhimer’s treatment aducanumab.

The FDA’s approval on Monday is set to cause a ripple effect among drugmakers and researchers studying the elusive disease, the sixth leading cause of death in the U.S., and comes after months of intense controversy over whether Biogen’s Alzhiemer’s treatment actually helped with cognitive decline. 

For Biogen, the company's all-in bet on aducanumab comes amid serious troubles elsewhere in its business. Multiple sclerosis drug Tecfidera and spinal muscular atrophy med Spinraza have been facing increasing competitive pressures, leading the company to post a sales decline in 2020

Aducanumab is a monoclonal antibody designed to break down amyloid plaque buildup that is thought to worsen Alzheimer’s disease. The drug is the first to treat the course of the disease, not just its symptoms, and the first Alzhiemer's medicine approval in nearly two decades. 

The nod is a sure win for patients and advocacy groups, as well as Biogen and its Japanese pharma partner Eisai, who have urged the drug agency to approve the treatment, arguing that there are no other options to treat the memory-degenerating disease that afflicts more than 6 million people in the U.S. 

On the other hand, it’s a stark rebuke against the physicians and the FDA’s own panel of independent advisors who have been sharply cynical of the once-failed drug. That group has contended that Biogen’s treatment hasn’t proven effective enough to earn the agency’s coveted approval. 


The controversy surrounding aducanumab has largely stemmed from results of two conflicting late-stage trials in patients with early-stage and mild Alzheimer’s. 

In a trial called Emerge, patients who got the highest dose of aducanumab experienced a 22% improvement on a clinical dementia scale over placebo after 78 weeks, the company said. Yet the same patient group in the Engage study did worse than placebo patients on that same measure, as well as on a test of cognitive function. 

None of the members on the FDA’s advisory committee voted in favor of aducanumab in a blistering thumbs-down November vote over whether “strong evidence” showed the antibody slowed cognitive decline in phase 3 studies. A second vote on whether a small phase 1b study showed “supportive evidence” similarly brought in a resounding no vote. 


Even with an agency go-ahead in hand, aducanumab is likely to face a number of hurdles before it reaches patients. Physicians may be unsure who should get it and for how long, while payers may balk at its lofty price tag and erect barriers that could limit reimbursement, analysts warn.

Given the “insufficient” evidence supporting aducanumab’s benefits, the drug should cost as low as $2,500, the drug-cost watchdog Institute for Clinical and Economic Review (ICER) said in a draft report (PDF) in May. Even at the $8,300 high end of the threshold, ICER’s estimates are still well below the $50,000 price tag industry watchers have estimated. 

For its part, Biogen has said there are more than 600 clinical sites in the U.S. ready to administer the drug following approval with many more in the works. Executives have predicted “modest revenue” for the drug in 2021 

Maria Carrillo, the chief science officer at the Alzheimer’s Association, which has sided with the drug’s approval, said despite concerns, physicians should still “work with people and their families to give them all the information and the options so that people can make informed decisions about whether they want this treatment.” 

“We believe people should have that access and ability to decide for themselves today, not four or five years from now when another phase 3 trial can be done,” Carrillo said. 


Aducanumab has faced a long, turbulent journey up until this point. Biogen nearly scrapped the drug entirely in March 2019 after it failed a key interim analysis. But in a surprise turnaround just eight months later, Biogen argued that the analysis was “incorrect” because it was based on a smaller data set that featured fewer patients who received high-dose aducanumab. So, the company filed it for approval. 

The FDA's aducanumab decision, the most consequential in years, has also been viewed as a tone-setter for drug approvals under the Biden administration and acting Commissioner Janet Woodcock, who is a contender for the permanent slot.

The agency was originally slated to hand its decision over aducanumab in early March. But, in a surprise move against the independent committee’s vote, the agency delayed its PDUFA date by three months while it reviewed additional data from Biogen. The company, however, remained silent over what additional information it handed the agency.

While the delay appeared to be good news for investors, analysts were widely split in their predictions over aducanumab's fate. Some still pegged aducanumab’s chances of making it across the FDA finish line with a clean approval at less than a coin’s flip, although there were thoughts that maybe the drug could warrant a limited approval instead.

The FDA's approval could also be a positive sign for Biogen's rival Eli Lilly, which also has its own up-and-coming Alzheimer’s disease asset donanemab. That drug, like aducanumab, is also a monoclonal antibody targeting amyloid plaques. 

Lilly unveiled detailed phase 2 data from a donanemab trial in March that showed it can help Alzheimer’s disease patients by clearing brain plaques, yet questions remain about its safety and clinical significance.

https://www.fiercepharma.com/pharma/biogen-fda-aducanumab-decision

Yet Another Study Suggests COVID Is Likely Lab-Engineered

 by Steve Watson via Summit News,

Another new scientific study has concluded that it is more likely than not that the COVID pandemic originated with a virus engineered inside a lab.

Dr. Stephen Quay and Berkeley physics professor Richard Muller revealed the findings in The Wall Street Journal Sunday, noting that “The most compelling reason to favor the lab leak hypothesis is firmly based in science.”

The scientists added that “COVID-19 has a genetic footprint that has never been observed in a natural coronavirus.”

The research points to the genome sequencing of the virus ‘CGG-CGG’, which is one of 36 sequencing patterns observed, but does not occur in nature.

“The CGG-CGG combination has never been found naturally. That means the common method of viruses picking up new skills, called recombination, cannot operate here,” the scientists assert.

“A virus simply cannot pick up a sequence from another virus if that sequence isn’t present in any other virus,” they add, while also noting that the CGG-CGG combination IS commonly used in ‘gain of function’ research, which is known to have been used with coronaviruses at the Wuhan Institute of Virology.

The scientists urge that those who believe COVID-19 jumped from animals to humans “must explain why it happened to pick its least favorite combination: CGG-CGG.”

They further ask for an explanation as to “Why did it replicate the choice the lab’s gain-of-function researchers would have made?”

“Yes, it could have happened randomly, through mutations. But do you believe that?” the authors of the study ask, adding “At the minimum, this fact—that the coronavirus, with all its random possibilities, took the rare and unnatural combination used by human researchers—implies that the leading theory for the origin of the coronavirus must be laboratory escape.”

This latest study comes on the heels of a revitalised focus on scientific research by Professor Angus Dalgleish of St George’s Hospital, University of London and Norwegian virologist Birger Sorensen which presents compelling evidence suggesting the virus was manufactured in a laboratory.

As the scientists noted, they were ostracised and ignored until recently when intelligence findings revealed that workers at the Wuhan lab fell sick with COVID-19 symptoms in November 2019.

As the global pandemic unfolded, scores of scientists came forward suggesting the genome sequencing of the virus was unnatural, and should be further investigated. The lab leak theory was effectively shut down, however, when scientists led by Dr Peter Daszak “orchestrated a ‘bullying’ campaign and coerced top scientists into signing off on a letter to The Lancet journal aimed at removing blame for Covid-19 from the Wuhan lab he was funding with US money.”

Daszak, who keeps appearing as the lead figure in investigations of the research he funded with US grant money via his own organisation, reportedly used his influence to get The Lancet to publish the letter, which stated that to even suggest the lab leak theory had any credibility was equal to spreading “fear, rumours, and prejudice.”

The release of Dr Fauci’s emails has also reconfirmed that Fauci was discussing the lab leak scenario with other scientists, and knew full well that it was a distinct possibility, despite making statements to the contrary in public, before any robust scientific research into the matter had been carried out.

Now former head of the Food and Drug Administration, Scott Gottlieb, has revealed that Fauci briefed world health leaders in the spring of 2020 that the lab leak was a possibility.

Appearing on CBS News this past weekend, Gottlieb admitted that Fauci told government health advisors that the virus “looked unusual,” and that scientists he was working with “had suspicions” that it was manipulated.

*  *  *

https://www.zerohedge.com/covid-19/yet-another-scientific-study-concludes-covid-likely-lab-engineered

3 Top Robinhood Stocks Wall Street Also Thinks Will Soar

 Robinhood investors like quite a few stocks that aren't exactly favorites for analysts. If memes are floating on the internet about a given stock, there's a pretty good chance that it's popular on Robinhood but not so much on Wall Street.

However, there are also several stocks that retail investors on the commission-free trading platform and analysts alike hold in high regard. Here are three top Robinhood stocks that Wall Street thinks will soar 25% or more. 

Apple

You might think that with a market cap topping $2 trillion, there's not much room for Apple (NASDAQ:AAPL) to grow. Analysts would disagree. The average one-year price target for the technology leader reflects a premium of nearly 28% over the current share price.

Apple is the second-most widely held stock among Robinhood investors. Why? Probably because they realize the incredible moat and growth prospects that Apple enjoys with its iPhone-centric ecosystem.

I think this ecosystem could expand enough for Apple to hit Wall Street's price target. The increased availability of high-speed 5G wireless networks continues to fuel demand for the newer iPhone models. Apple's services and wearables revenue also continues to grow significantly.

Over the long run, my view is that technological innovations will keep Apple among the favorite stocks for both Robinhood investors and Wall Street analysts. Look for more augmented reality functionality on the way. There's also speculation that Apple could launch a foldable iPhone in 2023. A future market cap of $3 trillion or more isn't out of the question at all.

Amazon.com

Robinhood investors and analysts also agree on another so-called FAANG stock -- Amazon.com (NASDAQ:AMZN). The internet giant ranks as the ninth most popular stock on Robinhood. Analysts think that Amazon's share price could rise 31% over the next 12 months. 

There are two key growth drivers that could enable Amazon to deliver that kind of growth. The company's Amazon Web Services (AWS) cloud platform continues to fire on all cylinders and is highly profitable. Amazon is also experiencing strong momentum with its digital advertising business.

Value investor Bill Miller even thinks that these two units could account for most of Amazon's valuation within the next couple of years. He's also bullish about the company's business-to-business and logistics platforms. I suspect Miller's optimism is on point.

Don't forget e-commerce, though. Amazon remains the biggest e-commerce company in the world. Online sales still account for less than 14% of total retail sales in the U.S. There's a lot of room for Amazon to run in its core business.

Bionano Genomics

You might be at least a little surprised by the third top Robinhood stock on our list that Wall Street really likes. The average price target for Bionano Genomics (NASDAQ:BNGO) is a whopping 80% higher than the stock's current price.

Bionano reported better-than-expected Q1 results in May. Revenue jumped 179% year over year to a record-high $3.2 million. Although the company remained unprofitable, its bottom line moved in the right direction.

Customers appear to like Bionano's Saphyr genome mapping system. As the install base grows, the company's recurring revenue from consumables grows. That's the kind of business model that investors hope could really pay off over the long run.

Bionano projects that it will have 150 Saphyr systems in the field by the end of this year, up 50% from the end of 2020. The company also anticipates receiving accreditation for additional laboratory-developed tests for Saphyr soon. Bionano is riskier than Apple or Amazon, but analysts think it could be a huge winner over the near term.

https://www.fool.com/investing/2021/06/04/3-top-robinhood-stocks-wall-street-thinks-will-soa/

Merus upped to Buy from Neutral by Citi

 Target to $31 from $24

https://finviz.com/quote.ashx?t=MRUS