What's Going On With Immix Biopharma

 Immix Biopharma Inc 

IMMX

 announced early interim data from IMMINENT-01 Phase 1b/2a trial combining tissue-specific therapeutic IMX-110 with BeiGene Ltd 

BGNE

 / Novartis AG's 

NVS

 tislelizumab, for advanced solid tumors.

100% Tumor Shrinkage at two months was observed in advanced metastatic colorectal cancer demonstrated by IMX-110 + tislelizumab combination in the first cohort of patients who received the lowest IMX-110 dose.

Tumor shrinkage was observed in the first two out of two (2/2) evaluable patients (100%) at two months. 

The company compares the data with Merck & Co Inc's 

MRK

 anti-PD-1 antibody Keytruda (pembrolizumab) alone produced tumor shrinkage in 3 of 19 patients (16%) with an evaluable postbaseline tumor assessment in Phase 1b study of pembrolizumab in patients with advanced or metastatic colorectal cancer according to O'Neil et al., 2017. 

No dose-limiting toxicities have been observed in the first cohort. Hence the trial can now enroll the next cohort of three patients at a higher dose of IMX-110 + tislelizumab.

Immix Biopharma is enrolling the next higher dose cohort of IMX-110 + anti-PD-1 antibody tislelizumab in advanced solid tumors.

https://www.benzinga.com/general/biotech/23/05/32191738/whats-going-on-with-immix-biopharma-stock-today

Why United Therapeutics Shares Are Falling

 United Therapeutics Corporation's 

UTHR

 Q1 revenues grew 10% Y/Y to $506.9 million, missing the consensus of $510.77 million.

The company reported Q1 EPS of $4.86, beating the consensus of $4.47.

Net product sales from treprostinil-based products grew by 16% Y/Y. The growth in Tyvaso revenues resulted primarily from an increase in quantities sold driven by the launch of sales of Tyvaso DPI in June 2022.

"We are extremely pleased with the underlying strength of our Tyvaso franchise, highlighted by record referrals and starts during the quarter and net patient additions in line with prior quarters," said Michael Benkowitz, President & COO. 

"Our other core products also performed well, led by Orenitram, which achieved record revenues in the first quarter," Benkowitz added.

Operating income fell from $288 million to $284.4 million, with margins contracting from 62.4% to 56.1%.

The company's cost of sales almost doubled to $52.7 million due to an increase in Tyvaso DPI royalty expense and product costs following the product's commercial launch in June 2022.

R&D expenses increased 20% to $82.9 million, primarily due to increased expenditures related to the TETON studies of Tyvaso in patients with idiopathic pulmonary fibrosis.

https://www.benzinga.com/general/biotech/23/05/32194377/why-united-therapeutics-shares-are-falling-today

Why Pacira BioSciences Shares Are Trading Lower

 Pacira BioSciences Inc 

PCRX

 reported Q1 sales of $160.3 million compared to $158.0 million a year ago and the consensus of $158.84 million.

The sales fell almost 7% sequentially from $172 million in Q4 FY22.

Exparel sales reached $130.4 million, slightly above the $129.2 million reported a year ago and down from $138.0 million in Q4.

Q1 average daily volume growth of 6% was offset by a lower net selling price primarily due to the implementation of 340B Drug Pricing and other contracted relationships.

Zilretta sales reached $24.3 million versus $23.6 million in Q1 FY22 and $28.0 million in Q4.

The company reported an adjusted EPS of $0.53, missing the consensus of $0.62 and below $0.80 in Q4 FY22.

EBITDA was $41.9 million in the first quarter of 2023, compared to $53.8 million a year ago, below $58.8 million in Q4 FY22.

Guidance: Pacira reiterated its FY23, with Exparel sales of $570-$580 million, Zilretta sales of $115-$125 million, and iovera° sales of $17-$20 million.

https://www.benzinga.com/general/biotech/23/05/32193787/why-pacira-biosciences-shares-are-trading-lower-today

Sutro, Mersana jump after Immunogen data for ovarian cancer therapy

 Sutro Biopharma (STRO) and Mersana Therapeutics (MRSN) gained Wednesday after ImmunoGen (IMGN) posted positive data for its ovarian cancer therapy.

https://seekingalpha.com/news/3964512-sutro-stock-mersana-stock-jump-immunogen-ovarian-cancer-data