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Tuesday, February 7, 2023

Catalyst Pharma: Interim Q4 Earnings, Says Well Positioned For 2023

 

  • Catalyst Pharmaceuticals Inc  provided preliminary 2022 fourth quarter and full-year total revenues estimates, a forecast of 2023 total revenue expectations, and a corporate update.
  • "2022 was an exceptional year for Catalyst, as we delivered record performance driven by consecutive quarterly revenue growth. The robust results capped an important year for our company, as we successfully executed our strategic initiatives across the business, adding further confidence in the long-term growth of the company," stated Patrick J. McEnany, Chairman and CEO of Catalyst. 
  • For Q4 FY22, revenues are estimated to be approximately $61 million, up 61% Y/Y, compared to the consensus of $56.84 million.
  • For FY22, the company expects sales of approximately $214 million, up 52% Y/Y, better than the consensus of $210.36 million.
  • Year-end 2022 cash and cash equivalents are expected to be approximately $298 million.
  • For FY23, total revenues are expected to be $375-$385 million, up 75% - 80% Y/Y, ahead of the consensus of $337.63 million.
  • Firdapse net revenues for 2023 are forecasted to be $245-$255 million, with Fycompa sales of $130 million for approximately 11 months of sales.
  • The company expects to complete the full integration of the FYCOMPA business unit by mid-year.

Revelation Bio: Encouraging Preclinical Data From Lead Fibrosis Candidate

 

  • Revelation Biosciences Inc  announced biomarker data from a preclinical model of acute and chronic kidney disease, supporting the potential clinical utility of REVTx-300 previously announced in November last year.
  • In this validated preclinical model, administration of REVTx-300 caused a significant reduction in circulating transforming growth factor-β (TGF-β) in a dose-dependent manner relative to the positive control group
  • In addition, REVTx-300 significantly increased circulating anti-inflammatory interleukin-10, hepcidin, and neutrophil gelatinase-associated lipocalin in all groups in a dose-dependent manner relative to the positive control group.
  • There were no significant increases in markers of inflammation. Revelation plans to seek publication of the full results during 2023.
  • Revelation originally released positive results from the preclinical model of acute kidney injury and chronic kidney disease
  • Additional analysis found that treatment with REVTx-300 significantly reduced new collagen deposition (fibrosis) in the renal cortex in a dose-dependent manner in the medium and high dose groups (42.1% reduction and 56.7%, respectively). 

FSD OKd for Phase-1 Trial of Lucid-21-302 (Lucid-MS), First-in-Class Multiple Sclerosis Drug

 FSD Pharma Inc. (NASDAQ: HUGE) (CSE: HUGE) (FRA: 0K9A) (“FSD Pharma” or the “Company”), a biopharmaceutical company dedicated to building a portfolio of innovative assets and biotech solutions for the treatment of challenging neurodegenerative, inflammatory and metabolic disorders, today announces the receipt of a No Objection Letter (“NOL”) from Health Canada regarding the Company’s proposed Phase 1 clinical trial of LUCID-21-302 (“Lucid-MS”), a novel drug candidate for the treatment of Multiple Sclerosis (“MS”). The NOL provides FSD Pharma with regulatory approval to move forward with the clinical trial in Canada.

The first-in-human clinical trial will evaluate the safety and tolerability of Lucid-MS, a neuroprotective compound with a unique mechanism of action for the treatment of MS. Lucid-MS is a patented New Chemical Entity (“NCE”) that has been the subject of more than 11 years of research and development. In preclinical models, Lucid-MS has been shown to prevent myelin degradation (demyelination), a known cause of MS and other neurogenerative diseases characterized by damage to the myelin sheath surrounding nerve fibers in the central nervous system. Preclinical evidence has demonstrated Lucid-MS to promote functional recovery in experimental animal models of MS (https://fsdpharma.com/our-science/). Based upon current evidence, Lucid-MS is non-immunomodulatory, an important distinction in the potential for developing new, safe options for treating MS.

https://www.biospace.com/article/releases/fsd-pharma-receives-regulatory-clearance-for-its-proposed-phase-1-clinical-trial-of-lucid-21-302-lucid-ms-first-in-class-multiple-sclerosis-drug-candidate/

GEN2 NASH Therapies Near the Finish Line

 Clinical trials for nonalcoholic steatohepatitis (NASH) therapies are returning positive data. Industry leaders say this generation of interventions is likely to succeed where first-generation approaches stumbled, thanks to novel approaches and a greater understanding of the disease.

In December, Madrigal Pharmaceuticals announced much-anticipated positive results from the pivotal trial of resmetirom. Madrigal’s shares soared in response to the data, reflecting the lucrative opportunity for the first NASH therapy to hit the market.

But Madrigal is not the only contender getting close in this space. 

Akero Targets Phase III in 2H ’23

Akero Therapeutics’ efruxifermin (EFX), currently in Phase II trials, works beyond just NASH to regulate additional metabolic pathways and cellular processes.

“It not only improves [the] metabolic health of the liver but also appears to act directly to inhibit deposition of fibrotic tissue in the liver,” said Tim Rolph, CSO and co-founder of Akero, in an interview with BioSpace.

A reduction in fibrosis (scarring of the liver) of approximately 40% occurred within six months, as well as a reduction in inflammation, Rolph said. With gastric bypass surgery, it takes longer than a year to achieve such a reduction in fibrosis and 4-5 years to resolve fibrosis in the majority of patients, absent a direct antifibrotic effect, he added.

EFX mimics the biological activity of fibroblast growth factor 21. Therefore, it reduces fat in the liver as well as in the adipose tissue, both of which cause liver disease.

Initially, Akero’s team thought the results were too good to be true, but they have been validated in four different studies with consistent results.

“What is unique is how well the molecule is connected to the receptors and which receptors it binds with,” said Kitty Yale, chief development officer. “It’s a level of efficacy that hasn’t been seen with other molecules.”

Yale said Akero plans to launch Phase III trials in the second half of 2023.

Hepion to Leverage AI in Longer Trial

Hepion Pharma’s NASH program is also being assessed in two Phase II trials. One four-month trial studies liver function using the HepQuant blood test and the other is a year-long biopsy-controlled study. A Phase III trial is anticipated in early 2025.

The investigational drug is an oral, once-daily therapy that addresses the collagen deposition that leads to fibrosis.

Trial data showed elevated liver enzymes and other indicators of collagen synthesis (which produced fibrosis) dropped to near-normal levels in six months.

In a longer trial that is being planned, “We’ll look at those things, but also [at] the patients’ genes to see if we can normalize gene regulation,” said Robert Foster, Pharm.D., Ph.D., CEO. Hepion will also look at lipids, proteins and metabolites.

This approach may enable the therapy to address liver disease from the mild to severe stages, Foster said. 

Because the studies involve hundreds of thousands of data points, artificial intelligence algorithms will be used for the analysis and to guide the company through later-stage clinical trials.

“Companies are moving closer to the point where they can get a drug approved, but there’s a lot to understand,” Foster said. “As the disease progresses, the goalposts are always moving. We’re trying to figure out what’s moving them and how drug treatments affect that.”

Chemomab Targets CCL24

Chemomab Therapeutics is developing a monoclonal antibody to neutralize one of the drivers of inflammation and fibrosis.

“What makes our approach distinctive is that our novel CCL24 target is a soluble mediator of both inflammation and fibrosis and is closely involved in the pathophysiology of a wide range of diseases where there is chronic immune-driven inflammation resulting in fibrosis,” said Mitch Jones, M.D., Ph.D., VP, corporate development and strategy at Chemomab.

Phase IIa trial showed improvements in several biomarkers related to liver fibrosis. Nearly 60% of patients showed improvements in at least three biomarkers at week 20, versus none in the control group. Liver elasticity also improved.

“There are many therapies in development targeting metabolic function, but few with disease-modifying anti-fibrotic efficacy or potential,” Jones said.

The Second Generation

The leading second-generation NASH therapies have disease-modifying potential.

“NASH drug development remains one of the few races in drug development,” said Mark W. Tengowski, DVM, Ph.D., scientific director, musculoskeletal medical affairs at Clario, a clinical trial technology company. 

“What makes NASH development different (from the era of statins) is the variety of mechanisms that can alter liver fat. In addition to pharmacology, there’s a genetics component.”

Therefore, NASH therapy developers have several possible avenues to explore.

Looking to the near future, drug combinations are likely, each of these researchers said. That includes drugs that target multiple metabolic and fibrotic pathways and that work at multiple stages of the disease. The prospect of gene or cell therapy was also raised as a possible future treatment.

https://www.biospace.com/article/gen2-nash-therapies-near-the-finish-line-/

Neurocrine target cut at RBC

 RBC Capital Markets cut the target to $110 from $122. Maintains sector perform rating

https://www.marketscreener.com/quote/stock/NEUROCRINE-BIOSCIENCES-I-10163/

Pfizer upped to Outperform from Neutral by Daiwa

 Daiwa Securities raised the recommendation to outperform from neutral. PT up 17% to $51.

https://www.marketscreener.com/quote/stock/PFIZER-INC-23365019/

Aldeyra: FDA OKS Application for Reproxalap for Treatment of Dry Eye Disease

Aldeyra Therapeutics, Inc. (Nasdaq: ALDX) (Aldeyra) today announced that the U.S. Food and Drug Administration (FDA) has accepted the New Drug Application (NDA) for topical ocular reproxalap, a first-in-class investigational new drug candidate, for the treatment of the signs and symptoms of dry eye disease. The FDA assigned a Prescription Drug User Fee Act (PDUFA) date of November 23, 2023. The FDA noted that no potential filing review issues have been identified, and that an advisory committee meeting is not currently planned.

https://finance.yahoo.com/news/aldeyra-therapeutics-announces-fda-acceptance-120000190.html