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Thursday, February 3, 2022

Biogen profit forecast misses estimates as Aduhelm weighs

 Biogen Inc reported just $1 million in quarterly sales of its Alzheimer's disease drug and forecast 2022 earnings well below analysts' estimates, following a proposal last month by the U.S. Medicare regulator to limit coverage of drug.

The drugmaker's shares fell 3% before the opening bell as the company also said it expects "minimal" sales from the treatment, Aduhelm, which was once touted as a potential blockbuster but now faces weak uptake after its controversial approval and a lack of clarity over coverage.

Analysts' on average had expected $2.8 million in fourth-quarter sales of Aduhelm.

The U.S. Centers for Medicaid and Medicare Services (CMS) in January proposed to severely restrict coverage for Alzheimer's drugs including Aduhelm to patients taking part in approved clinical trials. A final decision is expected in April.

Biogen, which has already launched a $500 million cost-cutting program, warned that if the final coverage decision was not broader than the current proposal it could to be forced to cut more costs.

The company said it expects full-year adjusted profit of $14.25-$16.00 per share, compared with the Refinitiv IBES estimate of $18.82 per share.

In the fourth quarter, Biogen earned $3.39 per share, edging past analysts' estimates by a cent.

Sales of multiple sclerosis drug Tysabri rose nearly 8% to $512.7 million, beating estimates of $488.19 million.

https://www.yahoo.com/news/biogen-2022-profit-forecast-misses-124239451.html

Mersana, Janssen to Advance Novel Antibody-Drug Conjugates

 

  • Collaboration focused on discovering novel ADCs for three targets by leveraging Mersana’s ADC expertise and the Dolasynthen platform with Janssen’s proprietary antibodies

  • Mersana receives $40 million upfront payment and potentially more than $1 billion in total milestones, plus mid-single-digit to low double-digit percentage royalties on net sales

Biomarker Test Could Unlock Personalized Medicine in Alzheimer’s

 Alzheimer’s Disease (AD) impacts more than six million Americans, killing 1 in 3 seniors diagnosed – more than breast and prostate cancer combined. The disease causes progressive brain damage, leading to memory loss, confusion, behavioral changes and the inability to speak, swallow or walk, with eventual loss of autonomic functioning.

AD is traditionally characterized by the misfolding of proteins amyloid beta and tau, creating plaques and tangles that are believed to cause neuronal dysfunction and death. However, a third type of misfolded protein called alpha-synuclein can coexist with plaques and tangles, causing a variant of AD known as Alzheimer’s with Lewy Body Variant (AD-LBV).

When alpha-synuclein misfolds, it aggregates into a more stable form that can continuously build up in the brain. The aggregates corrupt normally-folding alpha-synuclein proteins, forming pathological aggregates which are then released and spread throughout the brain, where they can begin the cycle of proliferation again. Alpha-synuclein is the main protein component of Lewy Bodies, which are structures that lead to the pathogenesis of Lewy Body Dementia (LBD) and Parkinson’s disease dementia.

Up to 40% of AD patients were found to have Lewy Bodies in their brain after succumbing to the disease. Patients with AD-LBV often suffer a more aggressive form of AD and tend to become incapacitated or die at younger ages. The variant shares resemblances with LBD, causing motor symptoms akin to those seen in Parkinson’s disease. Because of the similarities between AD-LBV and LBD, and the often years-long diagnostic process, making the distinction between the two diagnoses can be difficult for clinicians.

Differentiation between AD-LBV and LBD or other types of dementia is critical for physicians and patients because they infer unique treatment paths that don’t align. In fact, treating an AD-LBV patient with LBD therapeutics or vice-versa can have dire consequences.

“Certain patients, for example, have hallucinations and delusions. Certain drugs that you would treat someone with uncomplicated Alzheimer’s with will do well, but a Lewy Body variant patient can go into absolute crisis,” Dr. Russell Lebovitz, M.D, Ph.D., CEO and co-founder of Amprion told BioSpace. Antipsychotic medications that are routinely used for patients with AD experiencing behavioral disorders can cause serious side effects in LBD patients.

Adding to the difficulty, it has been impossible to know if AD patients are experiencing a Lewy Body variant until their brains are autopsied post-mortem. That is until Amprion, which develops diagnostics for brain diseases, unlocked the potential to do so with its SYNTap Biomarker Test.

The SYNTap Biomarker Test for Alzheimer’s helps to detect Lewy Bodies in AD patients by using their cerebrospinal fluid (CSF). Because alpha-synuclein is self-replicating, only a handful of particles are needed to detect its presence. By coalescing a patient’s CSF with excess recombinant alpha-synuclein protein, the SYNTap Test can accurately detect the presence of Lewy Bodies in an all-or-none response. The presence of protein aggregates will cause their amplification over several days to be a billion-fold and the absence of protein aggregates will reveal no amplification.

The SYNTap Test was awarded Breakthrough Device Designation from the U.S. Food and Drug Administration. In a joint study with the Oregon Health and Science University, Amprion conducted blinded analysis with CSF samples collected 1-15 years prior to autopsy in patients with AD, some other non-synucleinopathy neurodegenerative disease and healthy controls. The SYNTap Test was able to accurately detect the existence of misfolded alpha-synuclein in CSF from a clinically diagnosed AD patient 10 years before the autopsy identified the presence of Lewy Bodies.

Amprion was able to produce similar results in a confirmatory study performed with the University of California, San Diego in CSF collected before autopsy and CSF collected post-mortem. Clinical validation showed that the SYNTap Test had a sensitivity of 87.3% and a specificity of 97.2%, and none of the patients without Lewy Bodies in their brain tested positive for the aggregate.

“Being able to see the silent phase of a disease that is affecting more and more of us allows us to understand, and helps clinicians to understand, what’s really going on,” commented Lebovitz.

Importantly, the SYNTap Test can detect the presence of protein aggregates very early on, even before patients begin to experience classical symptoms of AD or LBD, which can lead to more personalized and proactive medicine before the disease causes progressive damage and loss of brain function. As Lebovitz said, the earlier the diagnosis, the better. A drug that might perform mediocrely at a late stage of the disease, could, at an early stage, become "miraculous." 

“We believe, moving forward, that neurodegenerative diseases share a lot more in common than people used to believe. We may want to treat them all just like cancer with personalized medicine,” Lebovitz said. By determining what type of dementia a patient has early on, physicians can work with patients to create a more targeted treatment plan, using a combination of therapies that could help slow the progression of the disease.

The SYNTap Test can also guide patients toward beneficial clinical trials, accelerate scientific innovation for drug development and help patients make informed health care decisions to navigate brain care. Moving forward, Amprion will work on quantitation to help drug developers understand the point at which reduction of the misfolded proteins produces a clinical benefit in trials of new drugs.

Lebovitz stated that Amprion hopes to understand whether other bodily fluids can be used to run the SYNTap Test in order to make it more accessible and available to patients who are either at risk for developing AD or who are just beginning the diagnostic process.

While the SYNTap Test is quite useful for detecting alpha-synuclein aggregates, the company is curious to see if the technology can also be used for detecting other proteins important in diseases such as Amyotrophic Lateral Sclerosis (ALS) in a clinical setting. The creation of such tests is a future research priority.

https://www.biospace.com/article/amprion-test-could-enable-personalized-medicine-in-alzheimer-s-disease/

German researchers to breed pigs for human heart transplants this year

 German scientists plan to clone and then breed this year genetically modified pigs to serve as heart donors for humans, based on a simpler version of a U.S.-engineered animal used last month in the world's first pig-to-human transplant.

Eckhard Wolf, a scientist at Ludwig-Maximilians University (LMU) in Munich, said his team aimed to have the new species, modified from the Auckland Island breed, ready for transplant trials by 2025.

In the first surgery of its kind, a team at the University of Maryland Medicine last month transplanted a heart from a pig with ten modifications into a terminally ill man. His doctors say he is responding well though risks of infection, organ rejection or high blood pressure remain.

"Our concept is to proceed with a simpler model, namely with five genetic modifications," said Wolf, whose work has triggered a heated debate in a country with one of Europe's lowest organ donation rates and a strong animal rights movement.

Wolf, who has been researching animal-to human-transplants - known as xenotransplants - for 20 years, said his team would use still inefficient cloning technology to generate only "the founder animals", from which future genetically identical generations would be bred.

The first such generation should be born this year, and their hearts would be tested in baboons before the team sought approval for a human clinical trial in two or three years' time, Wolf said.

Transplants are used for people diagnosed with organ failure who have no other treatment options, a waiting list that numbered around 8,500 people in Germany at the end of 2021, according to data from the country's Organ Transplantation Foundation.

Wolf's supporters say animal donors could help shorten that list, but opponents say the technology rides roughshod over the rights of animals, effectively degrading pigs to the status of organ factories while the monkeys used in transplant experiments die in agony.

In February 2019, a petition by German pressure group Doctors Against Animal Experiments demanding a ban on xenotransplantation research collected over 57,000 signatures.

Kristina Berchtold, a spokesperson for the Munich branch of Germany's Animal Welfare Association, called the practice "ethically very questionable."

"Animals should not serve as spare parts for humans," she said. "... A pet, a so-called farm animal, a clone or a naturally born animal all have the same needs, fears and also rights."

https://www.nasdaq.com/articles/german-researchers-to-breed-pigs-for-human-heart-transplants-this-year

Merck sees 2022 sales up nearly 20%, mostly on molnupiravir

 Merck & Co said on Wednesday it expects its 2022 sales to increase as much as 18 percent over last year, mostly on sales of its new COVID-19 pill, molnupiravir.

The drugmaker said sales of the COVID-19 drug were $952 million in the fourth quarter, and it expects another $5 to $6 billion of sales for the drug in 2022. Merck developed the pill - and shares the profits equallly - with partner Ridgeback Biotherapeutics.

Merck Chief Financial Officer Caroline Litchfield said in an interview it is possible the company could top those sales estimates for molnupiravir, which are based on already signed supply agreements for around 10 million courses of the drug. Merck still expects to produce an aggregate of 30 million treatment courses of molnupiravir by the end of the year, she said.

"Depending on how the pandemic plays out, could there be upside to this?" Litchfield said. "Yes, we've got the supply to provide more product to the markets."

Enthusiasm for the antiviral pill, which was once touted as a potential game-changer for treating COVID-19, has waned since it was shown to have about 30% efficacy in reducing hospitalizations in its clinical trial. A rival drug made by Pfizer Inc had significantly better results in its trial, but supply of that pill is constrained in the near term.

Merck said it posted fourth-quarter earnings of $4.58 billion, or $1.80 a share, up from last year when it earned $2.49 billion, or 98 cents a share. Analysts, on average were expecting earnings of $1.53 a share, according to Refinitiv IBES data.

Sales were $13.52 billion in the quarter, up from $10.95 billion last year, driven by the molnupiravir sales and growth from cancer drug Keytruda and human papillomavirus (HPV) vaccine Gardasil. Analysts had expected sales of around $13.2 billion in the quarter.

Merck said it expects 2022 earnings to be between $7.12 and $7.27 a share, just shy of analyst forecasts of $7.29 a share. It expects 2022 revenue to be between $56.1 billion and $57.6 billion, up from $48.7 billion last year.

Surgeon general tells parents vaccine for children will be reviewed with same rigor as adult one

 The U.S. surgeon general said regulators reviewing a COVID-19 vaccine for children below the age of five will use the "same independent rigorous and transparent" process as used for adult vaccines. Dr. Vivek Murthy made the comment at a White House press briefing on Wednesday. His comments came after a Kaiser Family Foundation survey found that just three in 10 parents of children in that age group are willing to get their child vaccinated right away once a vaccine is authorized. It also comes as the average number of daily deaths from COVID-19 in the U.S. continues to climb above 2,600, according to a New York Times tracker, now higher than the peak surge in the fall when delta was dominant and close to the peak last winter, before vaccines were available. Deaths are up 35% from two weeks ago and show no signs of plateauing. Cases, now that the highly infectious omicron variant is dominant, are coming down from their January peak and averaging 385,425 a day, down 49% from two weeks ago, according to a New York Times tracker, Hospitalizations are down 16% from two weeks ago at 133,626 a day on average. If current death rates persists, the U.S. may see 900,000 fatalities from COVID by mid-February. On a global basis, the total tally for COVID-19 cases hiked up above 385.3 million on Tuesday, and the death toll rose above 5.7 million, according to data aggregated by Johns Hopkins University. The U.S. leads the world with a total COVID-19 case count of 75.7 million and death toll of 894,316.

https://www.marketwatch.com/story/coronavirus-tally-us-surgeon-general-tells-parents-vaccine-for-children-will-be-reviewed-with-same-rigor-as-adult-one-2022-02-03

Quest cut to Hold from Buy by Jefferies

 Target $135

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