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Monday, January 9, 2023

Neurocrine, Voyager Collaborate For Neurological-Focused Gene Therapies

 

  • Neurocrine Biosciences Inc  and Voyager Therapeutics Inc  have formed a new strategic collaboration to advance multiple gene therapies for neurological diseases. 
  • Voyager will receive up-front consideration of $175 million, including a $39 million equity investment, up to $1.5 billion in potential development milestones, additional potential commercial milestones, tiered royalties on net sales, program funding, and an option to elect 50/50 cost- and profit-sharing in the U.S. for the GBA1 program following Phase 1 readout.
  • The collaboration includes Voyager's preclinical GBA1 gene therapy program for Parkinson's disease and other GBA1-mediated diseases, which combines a GBA1 gene replacement payload with novel capsids from Voyager's TRACER platform. 
  • In addition, Neurocrine Biosciences and Voyager have also agreed to collaborate on three new gene therapy programs directed to rare CNS targets, each leveraging Voyager's novel TRACER capsids. 
  • Regarding the GBA1 gene therapy program, Neurocrine Biosciences has agreed to fund development through the completion of a first Phase 1 trial. 
  • Following the data readout, Voyager has the right, but not the obligation, to elect to co-develop and co-commercialize the GBA1 program with Neurocrine Biosciences in the U.S. under a 50/50 cost- and profit-sharing arrangement.
  • If Voyager declines its option for cost and profit sharing on the GBA1 program, it will be eligible for up to $985 million in total development milestone payments plus substantial potential commercial milestone payments and tiered royalties.

ARVINAS AND PFIZER PROPOSE MODIFICATION TO PLANNED VERITAC-3 PHASE 3 STUDY

 On January 9, 2023, the Company and Pfizer Inc. ("Pfizer") provided updated guidance related to the anticipated initiation of the VERITAC-3 first-line, metastatic estrogen receptor positive/HER2 negative (ER+/HER2-) breast cancer Phase 3 study of ARV-471 in combination with IBRANCE® (palbociclib).

In the most recent analysis of data from the ongoing Phase 1b combination study of ARV-471 with palbociclib, an increase in palbociclib exposure was observed relative to historical palbociclib pharmacokinetic data.

In light of the recent data analysis, the Company and Pfizer have proposed a modification to the planned VERITAC-3 Phase 3 study and requested a meeting with the U.S. Food and Drug Administration (the "FDA") to review the proposed update to the VERITAC-3 Phase 3 study protocol for ARV-471 in combination with palbociclib to determine the optimal dose of palbociclib as part of the trial design. In the event that the FDA agrees with the proposed amendment, the Company and Pfizer expect to initiate enrollment of the VERITAC-3 Phase 3 study in the second half of 2023. The Company and Pfizer expect to provide a regulatory update after meeting with the FDA.

In the most recent analysis of data from the ongoing Phase 1b study of ARV-471
in combination with palbociclib, the following were observed:
•An approximate increase of 50% in mean palbociclib exposure (i.e.,
pharmacokinetic area under the curve and Cmax) in the fed state was observed
relative to historical palbociclib pharmacokinetic data in the fasted state.
•Grade 3/4 neutropenia, a known dose-related adverse reaction associated with
palbociclib, was 76% for 200 mg ARV-471 with 125 mg palbociclib (n=21).
As per the U.S. Package Insert, (USPI) the starting dose of palbociclib for
patients with HR+/HER2- metastatic breast cancer is 125 mg. As per the
palbociclib USPI, a Grade ?3 decrease in neutrophil counts was reported in 66%
of patients receiving IBRANCE plus letrozole in Study 1 (PALOMA-2) and 66% of
patients receiving IBRANCE plus fulvestrant in Study 2 (PALOMA-3).
There was no increase in the rate of infection reported in the ARV-471 with
palbociclib Phase 1b investigation relative to the rates reported in the
registrational Phase 3 studies of palbociclib.
•The neutropenia events in the ARV-471 Phase 1b study were manageable with
standard dose reductions of palbociclib.
•In the arm combining palbociclib with 200 mg ARV-471, one of 21 patients
discontinued.
In addition to the above, the Company also provided the updated guidance set forth below related to its other programs. •VERITAC-2, a Phase 3 pivotal trial (First Subject First Visit) with ARV-471 as a second-line treatment in patients with ER+/HER2- metastatic breast cancer, is actively recruiting.
The Company initiated the TACTIVE-U, the Phase 1b trial with ARV-471 in
combination with ribociclib and abemaciclib, in two of the combination arms in
the fourth quarter of 2022.
•The Company expects to present data from the Phase 1b combination trial of
ARV-471 with palbociclib in the second quarter of 2023.
•The Company expects to initiate a Phase 3 trial with ARV-471 in the adjuvant
setting.
The Company expects to initiate a pivotal trial for bavdegalutamide (ARV-110)
for the treatment of men with metastatic castration-resistant prostate cancer in
the second half of 2023.
•The Company expects to report data from the Phase 1 dose escalation trial of
ARV-766 for the treatment of men with metastatic castration-resistant prostate
cancer in the second quarter of 2023.
The Company expects to submit an investigational new drug ("IND") application
or clinical trial application ("CTA") for its BCL6 PROTAC® degrader in the
second half of 2023.
•The Company expects to submit an IND or CTA for its PROTAC® LRRK2 degrader in
the second half of 2023.
•The Company expects to have two additional programs in IND-enabling studies by
the end of 2023.
https://www.marketscreener.com/quote/stock/ARVINAS-INC-46353308/news/ARVINAS-INC-Regulation-FD-Disclosure-Other-Events-Financial-Statements-and-Exhibits-form-8-K-42691455/

BioCryst: Outlook disappoints

 “The number of patients on therapy at the end of 2022 was in-line with our expectations as patients continued to switch to ORLADEYO in the fourth quarter. Revenue in the quarter lagged our expectations slightly as we saw fewer paid product shipments based on seasonal factors and lower conversion from free to paid product than expected. We see continued growth in 2023 in the U.S. and around the world as we advance toward $1 billion in peak ORLADEYO sales,” said Charlie Gayer, chief commercial officer of BioCryst.

2023 Financial Outlook
The company expects full year 2023 global net ORLADEYO revenue to be no less than $320 million. As in 2022, due to the seasonal impact of managed care reauthorizations in the first quarter of the year, the company expects revenue in the first quarter of 2023 to be similar to revenue in the fourth quarter of 2022.

https://finance.yahoo.com/news/biocryst-announces-preliminary-full-2022-120500595.html

Cutera Reports Preliminary Full-Year 2022 Revenue Below Guidance

 Shares fall

https://www.marketscreener.com/quote/stock/CUTERA-INC-8962/news/Cutera-Reports-Preliminary-Full-Year-2022-Revenue-Below-Guidance-Shares-Fall-42693538/

Calithera: Board Approval of Complete Liquidation and Dissolution

 Calithera Biosciences, Inc. (Nasdaq: CALA), today announced that its Board of Directors has determined, after extensive consideration of potential strategic alternatives, that it is in the best interests of its shareholders to dissolve the Company and liquidate its assets, following an orderly wind down of the company’s operations. In order to reduce costs and in connection with the planned dissolution, Calithera is discontinuing all clinical development programs and reducing its workforce, including the termination of most employees by the end of the first quarter.

“The Board of Directors and management devoted substantial time and effort in identifying and pursuing various opportunities, but we were unable to complete a transaction that would allow us to continue the development of our clinical programs and enhance shareholder value,” stated Susan Molineaux, PhD, president and chief executive officer of Calithera. “Importantly, I would like to sincerely thank our employees and others who have supported Calithera over the years. We appreciate your partnership and participation, and we truly wish the outcome was different today.”

Plan of Liquidation and Dissolution

The Board of Directors has unanimously approved the dissolution and liquidation of the Company, subject to shareholder approval, pursuant to a Plan of Complete Liquidation and Dissolution (the “Plan of Dissolution”). The Company intends to call a special meeting of its shareholders in the first calendar quarter of 2023 to seek approval of the Plan of Dissolution and will file proxy materials relating to the special meeting with the Securities and Exchange Commission (the “SEC”) as soon as practical. The Plan of Dissolution contemplates an orderly wind down of the Company’s business and operations. If the Company’s shareholders approve the Plan of Dissolution, the Company intends to file a certificate of dissolution, delist its shares of common stock from The Nasdaq Global Select Market, satisfy or resolve its remaining liabilities and obligations, including but not limited to contingent liabilities and claims and costs associated with the dissolution and liquidation, make reasonable provisions for unknown claims and liabilities, and attempt to convert all of its remaining assets into cash or cash equivalents. Upon the filing of the certificate of dissolution, the Company intends to cease trading in its common stock, close its stock transfer books and discontinue recording transfers of shares of its capital stock, in accordance with applicable law. The Company will establish a reserve, which will be used to pay all expenses (including operating expenses up until the filing of the certificate of dissolution) and other known, non-contingent liabilities and obligations, and will include reasonable provision for future expenses of liquidation and contingent and unknown liabilities as required by Delaware law. The Company currently expects that its existing capital resources together with the anticipated net proceeds from the sale of certain clinical assets will enable it to meet its remaining liabilities and obligations with sufficient reserves. However, in light of the liquidation preference held by the holder of its Series A convertible preferred stock, even if all of the Company’s assets are converted to cash or cash equivalents, the Company does not anticipate that the liquidation preference will be satisfied and therefore no liquidating distributions are expected to be made to the holders of its common stock. The Company will provide an estimate of any such amount that may be distributed to the holder of its Series A convertible preferred stock in the proxy materials to be filed with the SEC. The amount actually distributable, however, may vary substantially from any estimate provided by the Company based on a number of factors.

https://finance.yahoo.com/news/calithera-biosciences-announces-board-approval-130000765.html

Revance Update on DAXXIFY® Commercial Launch and Prelims

 

  • DAXXIFY® PrevU program off to strong start with ~400 select practice partners and thousands of patients treated, generating positive feedback and strong, early uptake

  • Preliminary unaudited Q4 DAXXIFY® revenue from PrevU of between $10.5 million and $11.5 million

  • Preliminary unaudited Q4 RHA® Collection revenue of between $34.0 million and $35.0 million, a YoY increase of approximately 45%

  • Aesthetic accounts across products and services totaled over 5,000 at the end of the fourth quarter 2022

Viridian: Positive Data in Phase 1/2 Trial Evaluating Low Dose VRDN-001 in Thyroid Eye Disease

 Significant and rapid improvement in both signs and symptoms of TED after two infusions of 3 mg/kg, generally consistent with prior 10 and 20 mg/kg results –

- Among 3 mg/kg VRDN-001 treated patients, 67% were proptosis responders, 56% were overall responders, 67% achieved a Clinical Activity Score (CAS) of 0 or 1, and 20% had complete resolution of their diplopia –

- Across all 21 VRDN-001 treated patients to date, 71% were proptosis responders, 67% were overall responders, 62% achieved a CAS of 0 or 1, and 54% had complete resolution of their diplopia, with a favorable safety profile seen across all dose levels –

- 3 mg/kg data support planned once-monthly low-volume subcutaneous dosing profile for VRDN-002 and VRDN-003 –

https://finance.yahoo.com/news/viridian-announces-positive-data-ongoing-130000038.html