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Wednesday, July 6, 2022

Still unclear whether Sarepta can accelerate on DMD

 Sarepta today added weight to its goal of getting the nod for its Duchenne muscular dystrophy gene therapy SRP-9001, with an ostensibly positive data drop. However, the company still cannot say whether it will seek accelerated approval for the project, or whether it will need to await data from the placebo-controlled Embark study, due next year.

Investors, perhaps hoping for more clarity on this point, pushed Sarepta’s stock down 2% this morning. They might also have been spooked by a new adverse event of myocarditis – a problem that has hit Pfizer’s rival DMD gene therapy.

Questions about these two issues dominated a conference call today. On the issue of accelerated approval, Sarepta execs would only say that the group was in discussions with the FDA, and should get some guidance in the “not-too-distant future”.

For now, the base-case is that Embark will be needed for approval. And the FDA might well want placebo-controlled data: the results presented today came from three studies that compared SRP-9001-treated patients with matched external controls.

Still, as previously noted, such analyses were prespecified and the external controls, who came from three separate studies, were rigorously matched to study participants, according to Sarepta.

The FDA might also have been burned by Sarepta’s previous reluctance to follow through on confirmatory studies, but this looks unlikely to be an issue this time given that Embark is already under way.

Commercial grade

The most relevant of the results presented today by Sarepta and its partner Roche probably come from Study-103, also known as Endeavor, which uses commercial-grade SRP-9001. The data came at the International Congress on Neuromuscular Diseases in Brussels.

Among 20 patients there was a 3.8-point improvement in North Star Ambulatory Assessment (NSAA) score at one year versus external controls.

Source: Company presentation

This looks better than the two-point improvement reported in part 2 of Study-102, which uses clinical-grade product, in January (JP Morgan 2022 – Sarepta gets another bite at the gene therapy cherry, January 11, 2022). However, the placebo-controlled first part of that study failed, providing another reason for caution.

As for the case of myocarditis – inflammation of heart tissue – this was seen in an 11-year-old boy in Study-103. He had no symptoms of cardiac dysfunction, but raised troponin levels were detected when he was hospitalised for nausea and vomiting. He has since returned to normal.

Pfizer’s gene therapy, fordadistrogene movaparvovec, has also been linked with myocarditis, and the phase 3 trial of that project was later put on hold after a patient death. That hold has since been lifted, but the new protocol includes a seven-day hospitalisation period to enable close monitoring.

Pfizer also excluded patients with certain mutations – the theory was that gene transfer could spur an immune response in patients who had not previously been exposed to dystrophin.

Sarepta execs said today that there was no evidence that the myocarditis case seen in its trial was immune related.

Regarding other adverse events, nausea and vomiting were seen in 50-60% of patients across Study-103, Study-102 and the four-patient Study-101. Sarepta execs stressed that there was no complement activation, an issue that has been seen with both Pfizer’s project and Solid Biosciences’ SGT-001.

Sarepta's trials with SRP-9001
TrialIDDetailsNote
Study-101NCT033751644 pts, clinical grade product 
Study-102NCT0376911641 pts, clinical grade productPlacebo-controlled part 1 failed; in part 2 pts originally on placebo crossed over to therapy
Study-103 (Endeavor)NCT0462667438 pts, commercial grade product, single arm 
EmbarkNCT05096221120 pts, commercial grade product, placebo controlledEnrolment due to complete mid-2022; data due mid-2023
Source: Evaluate Pharma & clinicaltrials.gov.

https://www.evaluate.com/vantage/articles/news/trial-results-conferences/icnmd-2022-still-unclear-whether-sarepta-can

Usana stock drops 10% after China’s COVID lockdowns blamed for reduced forecast

 Usana Health Sciences Inc. shares fell in the extended session Wednesday after the nutritional-supplement sales company lowered its forecast for the year, blaming lockdowns in China for disrupting regional sales programs.

Usana USNA, +1.78% shares dropped 10% after hours, following a 1.8% rise in the regular session to close at $76.51.

The company lowered its earnings forecast for the year to a range of $3.85 a share to $4.45 a share, down from a previous forecast of $5 to $5.70 a share. Also, Usana said it expects revenue between $1.02 billion to $1.07 billion, instead of the previously forecast $1.1 billion to $1.2 billion.

Analysts surveyed by FactSet Research had forecast earnings of $5.27 a share on revenue of $1.13 billion.

“Our sales performance during the second quarter was below expectations, as COVID-related lockdowns, restrictions, and other disruptions continued in mainland China and other markets,” said Kevin Guest, Usana’s chief executive and chairman, in a statement. “These challenges were particularly disruptive to the regional sales program we offered in several key markets during the quarter, and ultimately caused participation in the program, sales results and active customer counts to come in lower than anticipated.”

“Importantly, this program was designed to be a catalyst for sales and customer growth not only during the quarter, but also in the second half of the year,” Guest added. “As a result of this and the continued uncertainty surrounding the operating environment going forward, we anticipate softer sales and customer counts in the second half of the year.”

For the second quarter, Usana forecast earnings of $1.05 a share on revenue of $265 million. Analysts had forecast $1.26 a share on revenue of $274 million.

https://www.marketwatch.com/story/usana-stock-drops-10-after-chinas-covid-lockdowns-blamed-for-reduced-forecast-11657140031

CytomX breast cancer Phase 2 misses marks

  Study meets primary endpoint of objective response rate in HR+/HER2-non-amplified breast cancer -

- Secondary endpoints including clinical benefit rate at 24 weeks and median progression-free survival were 40 percent and 2.6 months, respectively -

- Arm B did not pass protocol-defined futility boundary in triple-negative breast cancer; enrollment to Arms B and C to be discontinued -

- Company to host conference call and webcast today at 5:00 pm ET / 2:00 pm PT 

CytomX management will host a conference call and a simultaneous webcast today at 5:00 pm ET (2:00 pm PT) to discuss these results. Participants may register for the conference call here and are advised to do so at least 10 minutes prior to joining the call. A live webcast of the call can be accessed via the Events and Presentations page of CytomX's website at https://ir.cytomx.com/events-and-presentations.

https://finance.yahoo.com/news/cytomx-therapeutics-announces-phase-2-200500633.html

Portage Bolsters Pipeline with Acquisition of 4 Candidates Targeting Adenosine Pathway

 Acquires two clinical-stage, best in class adenosine compounds, and two preclinical assets for approximately $21 million upfront consideration

Rob Glassman, M.D., Ph.D., director of Tarus and former Venture partner at OrbiMed, to join the Portage Board of Directors

Enters into committed share purchase agreement with Lincoln Park Capital to purchase ordinary shares of Portage for up to $30 Million; proceeds to potentially extend cash runway for current projects into 2024

Management to host a conference call and webcast Thursday, July 7 at 8:30am ET to discuss the adenosine programs and combined pipeline in greater detail

The Company has scheduled a conference call for Thursday, July 7 at 8:30am Eastern Time to discuss its adenosine programs and combined pipeline in greater detail. There will be a question-and-answer session following management’s prepared remarks.

Access to the live conference call will be available five minutes prior to the start of the call by dialing 1-877-704-4453 (U.S.) or 1-201-389-0920 (International). For all callers, please refer to Conference ID: 13731382. The conference call will be webcast live and will be accessible from the Portage Biotech website at www.portagebiotech.com or through this link: https://viavid.webcasts.com/starthere.jsp?ei=1558821&tp_key=8ef53cb012

https://finance.yahoo.com/news/portage-biotech-bolsters-pipeline-acquisition-200500622.html

ABBVIE: Q2 REPORTED AND ADJ EPS EXPECTED TO INCLUDE ACQUIRED IPR&D, MILESTONES EXPENSE OF $269 MLN PRE-TAX

 Abbvie Inc (ABBV) - Abbvie - Reported GAAP Earnings & Adjusted.

Non-GAAP Earnings for Q2 Expected to Include Acquired Ipr&d and Milestones Expense of $269 Million on Pre-tax Basis.
Full-year 2022 Adjusted Earnings per Share Guidance Range, Including Impact of Q2 2022 Acquired Ipr&d and Milestones Expense, is $13.78 - $13.98.
Q2 2022 Adjusted Earnings per Share Guidance Range, Including Impact of Q2 2022 Acquired Ipr&d and Milestones Expense, is $3.24 - $3.28.
Abbvie - 2022 Adjusted.
Diluted EPS Guidance Previously Announced, Excluded Impact of Acquired Ipr&d & Milestones Expense That May Be Incurred Beyond Q1.
Q2 Earnings per Share View $3.43 -- Refinitiv Ibes Data (analyst estimates).
FY2022 Earnings per Share View $14.01 -- Refinitiv Ibes Data (analyst estimates).

Coherus, Junshi's Cancer Checkpoint Inhibitor Gets Second Chance with FDA

 A cancer drug co-developed by Coherus BioSciences and Junshi Biosciences is getting another opportunity before the U.S. Food and Drug Administration.

Two months after the regulatory agency issued a Complete Response Letter for toripalimab, both as a monotherapy and in combination with gemcitabine and cisplatin, the FDA accepted a Biologics License Application for review and has set a Prescription Drug User Fee Act action date for Dec. 3.

Toripalimab, an anti-PD-1 monoclonal antibody, has been developed as a treatment for recurrent or metastatic nasopharyngeal carcinoma. In the first-line space, toripalimab is paired with gemcitabine and cisplatin, and as a second-line treatment, toripalimab is a stand-alone therapy. The combination of toripalimab, gemcitabine and cisplatin previously received Breakthrough Therapy designation from the FDA, and toripalimab has received Orphan Drug designation.

The toripalimab BLA is supported by the results from JUPITER-02, a randomized, Phase III clinical trial, as well as the Phase II POLARIS-02 clinical study.

In its re-acceptance of the BLA, the FDA said the review timeline will be six months and that onsite inspections in China will be required. An inability to travel to China during the height of the COVID-19 resurgence in that country in order to observe manufacturing facilities was a key issue for the FDA when it issued its CRL earlier this year. Now, it appears that such travel options are back on the table, allowing the review process to move forward. 

Dr. Theresa LaVallee, chief development officer of Coherus, said the approval of toripalimab will address a critical unmet need for patients with recurrent or metastatic nasopharyngeal carcinoma. Currently, there are no approved immunotherapies for this indication, LaVallee said. Following the CRL, LaVallee noted that Coherus and Junshi rapidly completed the quality process changes requested by the FDA to resubmit the BLA.

“Although the COVID-19 pandemic has created tremendous challenges for everyone, our dedication to bring better treatment options to patients around the world remains steadfast,” Dr. Patricia Keegan, chief medical officer of Junshi Biosciences, said in a statement. “Through our concerted efforts with our partner, Coherus, we have made continual progress towards obtaining toripalimab’s first marketing authorization outside of China. Over the next several months, we will work closely with the FDA to facilitate the review of this novel drug.”

If approved by the FDA, Coherus plans to launch toripalimab in the United States in the first quarter of 2023. Coherus said its U.S.-based strategy will include assessing the checkpoint inhibitor in combination with other cancer drugs and immunotherapies for other indications of cancer. It will do so through the forging of co-development agreements, the company said.

Coherus Chief Executive Officer Denny Lanfear said the toripalimab resubmission is one of the key milestones the company is focused on over the next 12 months. In addition to potential FDA approval of toripalimab, the company is also eying Aug. 2, when the FDA is expected to decide on Cimerli, Coherus’ biosimilar for Lucentis. And in 2023, Coherus will begin to market Yusimry, its biosimilar for AbbVie’s Humira, which loses patent protection in the U.S. next year. Yusimry was approved by the FDA in December 2021.

“The toripalimab December 2022 PDUFA date and the projected toripalimab launch will formally mark our entry into immuno-oncology, where Coherus will be one of just a handful of companies with a proprietary PD-1 as a foundation stone to build its oncology franchise upon,” Lanfear said.

https://www.biospace.com/article/coherus-junshi-get-second-chance-with-cancer-checkpoint-inhibitor-candidate/

Applied Molecular Transport's UC Candidate Effective in Early-Stage Intervention

 California-based clinical-stage biopharma company Applied Molecular Transport revealed top-line results from its Phase II MARKET trial of its oral investigational drug AMT-101. While mixed, the data indicate that AMT-101 could be a promising early treatment option for moderate-to-severe ulcerative colitis.

The data, shared Wednesday in a conference call, showed that in patients stricken with ulcerative colitis for less than five years, the combination of 3 mg AMT-101 with anti-TNFa adalimumab induced a 43.8% clinical remission rate after eight weeks of treatment. This is nearly three times higher than comparators treated with placebo plus adalimumab, who only reached a 15.4% clinical remission rate. MARKET defined clinical remission as a Mayo endoscopic subscore of 0 or 1, a rectal bleeding subscore of 0 and a stool frequency subscore of 0 or 1.

Adalimumab is most commonly known as the generic version of AbbVie's Humira, and the results are somewhat disappointing for AMT, as AMT-101 did not out-perform Humira in the trial. 

In the overall study cohort, AMT-101 failed to substantially outperform the placebo, with clinical remission rates of 31.8% and 33.3%, respectively. In the subgroup of patients with disease duration of at least five years, clinical remission rate in the AMT-101 arm was 0%, while that for placebo was 50%.

“The rates of clinical remission observed in the subgroup analysis are particularly encouraging since they suggest that earlier treatment of UC in combination can dramatically increase rates of remission over UC monotherapy alone and over previous benchmarks,” Bittoo Kanwar, M.D., chief medical officer of AMT, said during the conference call. Indeed, previous studies have typically only achieved monotherapy remission rates of 15% to 20%.

“These data… serve as an opportunity to optimize patient selection both in future clinical trials as well as in real-life treatment experience,” Kanwar added.

MARKET is a Phase II, double-blinded and placebo-controlled trial that enrolled 51 moderate-to-severe ulcerative colitis patients who had never been treated with biologics before. Patients were randomly assigned to receive 8 weeks of daily doses of either AMT-101 or a corresponding placebo; both arms were also given adalimumab.

Both the active and placebo treatment groups were generally balanced in terms of baseline demographic factors except for disease duration. Patients given AMT’s drug candidate have had ulcerative colitis for an average of 3.9 years, while those on the adalimumab-only arm have lived with the disease for an average of 8.5 years. Looking into this difference revealed the superior efficacy of AMT-101 over placebo for early ulcerative colitis intervention.

AMT-101 also had a good safety and tolerability profile. Of the 30 treatment-related adverse events documented in MARKET, only two were deemed related to the drug, while one was categorized as severe. One patient eventually discontinued treatment due to side effects.

Afflicting millions of people across the globe, ulcerative colitis is a chronic and inflammatory disease of the gastrointestinal tract. Patients with this condition often suffer from diarrhea, rectal bleeding and bloody stools, abdominal pain and unexplained weight loss. Through the company’s proprietary carrier molecule, AMT-101 delivers the anti-inflammatory cytokine IL-10 directly to the site of inflammation but without entering the bloodstream. This action allows AMT-101 to maximize local efficacy while also avoiding many of the side effects that come with systemic therapies.

“Given the results of this trial, and the compelling posthoc analysis, we plan on engaging FDA for potential next steps in development,” Kanwar said.

https://www.biospace.com/article/amt-s-uc-candidate-proves-effective-in-early-stage-intervention-/