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Tuesday, June 6, 2023

BranStorm: Adcomm to Review NurOwn® Biologics License Application September 27

 PDUFA target action date set to occur by December 8, 2023

 BrainStorm Cell Therapeutics Inc. (NASDAQ: BCLI), a leading developer of adult stem cell therapeutics for neurodegenerative diseases, today announced that the U.S. Food and Drug Administration (FDA) will convene a meeting of the Peripheral and Central Nervous System Drugs Advisory Committee (ADCOM) to review the Biologics License Application (BLA) for NurOwn®, its investigational mesenchymal stem cell therapy for the treatment of amyotrophic lateral sclerosis (ALS). The advisory committee meeting has been scheduled for September 27, 2023, and will be available for live streaming. In addition, BrainStorm's BLA for NurOwn has a Prescription Drug User Fee Act (PDUFA) action date targeted to occur by December 8, 2023.

https://www.biospace.com/article/releases/brainstorm-cell-therapeutics-announces-fda-advisory-committee-meeting-to-review-nurown-biologics-license-application-scheduled-for-september-27-2023/

City of Hope: Continuing immunotherapy once cancer progresses doesn't work, could cause harm

 CONTACT-03 trial finds increased toxicity without clinical benefit in patients with advanced kidney cancer who received additional checkpoint inhibitor therapy after disease progression

Harnessing and boosting a patient's own immune system to help fight cancer through immunotherapies like monoclonal antibodies and engineered T cells has become a standard of care for some cancers over the past two decades. But a new study on metastatic kidney cancer by researchers at City of Hope and a team of international collaborators calls into question whether these approaches should be used beyond an initial line of treatment.

Findings from the CONTACT-03 clinical trial, which explored the efficacy and safety of using multiple immune checkpoint inhibitor-based therapies in patients with metastatic kidney cancer, were presented June 5 at the American Society of Clinical Oncology's (ASCO) Annual Meeting and simultaneously published in The Lancet. 

"Our study is the first to show that continuing immunotherapy does not work and, if anything, adds toxicity that can lead to devastating side effects," said Sumanta K. Pal, M.D., co-director of City of Hope's Kidney Cancer Program and lead author of The Lancet paper, titled "Efficacy and safety of atezolizumab plus cabozantinib vs cabozantinib alone after progression with prior immune checkpoint inhibitor (ICI) treatment in metastatic renal cell carcinoma (RCC): Primary PFS analysis from the phase 3, randomized, open-label CONTACT-03 study."

The trial—led by Toni K. Choueiri, M.D., director of the Lank Center for Genitourinary Oncology at Dana-Farber Cancer Institute who presented the results at ASCO—enrolled patients with inoperable, locally advanced or metastatic renal cell carcinoma (RCC) whose disease had progressed on or after treatment with an immune checkpoint inhibitor (ICI) drug. ICIs help T cells to stay "on" and do their job to destroy cancer cells.

ICI-based regimens are the standard of care for the treatment of metastatic RCC. CONTACT-03 is the first randomized, phase III oncology trial to test the benefit of an ICI rechallenge after an initial treatment that failed by direct addition to a standard control arm of patients taking a chemotherapy drug.  The researchers saw no improvement among the participants who received an ICI (atezolizumab) plus chemotherapy (cabozantinib) versus those who just received the chemotherapy drug. Higher numbers of serious adverse events, such as pulmonary embolism and fever, were also seen in the combination therapy group, prompting the team to call for caution in using this approach for other cancers.

"This is a negative trial result but has big implications for clinical practice," said Pal, noting that immunotherapy—which is expensive—is used across many cancer types, like bladder, breast, melanoma, and lung cancer, but the cost is justified by the large degree of clinical benefit. "Currently, many physicians will continue immune therapy into the second- or third-line of treatment, even if the patients have previously had cancer growth while on it. This is a potential detriment to patients' wellbeing and also comes at a huge financial cost to the health care system."

Although the study was done in kidney cancer, Pal said it has implications for many other cancer types in his opinion.

"We need to have more studies assessing whether immune therapy works after previous progression or we could be exposing patients unnecessarily to physical harm and lots of financial cost," he said. "Discussions about results like these are necessary to uphold our commitment to providing our patients with valuable, high-quality care."

This study was sponsored by F. Hoffmann-La Roche. Exelixis was a study collaborator.

https://www.biospace.com/article/releases/new-study-finds-continuing-immunotherapy-once-cancer-progresses-doesn-t-work-and-could-cause-harm/

Kite CAR T-cell Therapy Shows 78% Complete Response, 90% Overall Response Rate in Lymphoma

 - In CIBMTR Registry Analysis, Tecartus Also Demonstrates 88% Complete Response Rate and 94% Overall Response Rate in Second-and-Third-Line Treatment --

-- Data Highlighted in Oral Presentation at ASCO --

 

Kite, a Gilead Company (Nasdaq: GILD), today announces findings from the largest real-world analysis to date of Tecartus® (brexucabtagene autoleucel) in patients with relapsed or refractory mantle cell lymphoma (R/R MCL), which show that outcomes of Tecartus therapy had consistent high complete response (CR) and overall response rates (ORR), regardless of type of prior treatment, including: Bruton's tyrosine kinase inhibitor (BTKi), bendamustine or autologous hematopoietic cell transplant (autoHCT). Higher CR was seen when Tecartus was given as second-and-third-line compared to later lines of treatment. The data are being presented orally today at the 2023 American Society of Clinical Oncology Annual Meeting (ASCO) (Abstract #7507).

https://www.biospace.com/article/releases/kite-s-tecartus-car-t-cell-therapy-demonstrates-78-percent-complete-response-rate-and-90-percent-overall-response-rate-in-largest-real-world-evidence-analysis-for-relapsed-refractory-mantle-cell-lymphoma/

Why Are HTG Molecular Diagnostics Shares Plunging

 

  • HTG Molecular Diagnostics (NASDAQ: HTGM) stock is down on Tuesday after the company announced a Chapter 11 bankruptcy filing.

  • According to the filing, HTG Molecular Diagnostics will operate as a "debtor-in-possession" business during the bankruptcy.

  • It's also seeking a variety of first-day motions that will allow it to continue normal operations.

  • The filing also accelerates the obligations of the company's debts, including a $2.68 million loan held by Silicon Valley Bank, now a division of First-Citizens Bank and Trust Company.

  • HTG Molecular Diagnostics notified the termination of Senior Vice President and Chief Commercial Officer Byron Lawson at the start of the month.

  • However, the company also signed a deal for his consulting services during a one-month transition period. This has the company agreeing to pay Lawson $23,000.

  • In its Q1 earnings release, the company said partnering discussions had been initiated with global biopharmaceutical companies around its portfolio of drug candidate molecules in oncology and neurodegenerative disease indications.

  • In addition, HTG has initiated partnering conversations regarding the use of HTG's drug discovery engine within the partners' portfolios of drug assets.

  • HTG Molecular reported Q1 sales of $1 million, on a net loss of $5 million.

Why Shares of Castle Biosciences Plummeted on Monday

 Shares of Castle Biosciences (CSTL 26.24%) were down more than 47% on Monday afternoon as three analysts lowered their price targets for the medical diagnostic stock. The healthcare stock is down more than 49% so far this year. The big drop was likely affected by a Medicare contractor's decision not to cover one of the company's tests.

Castle's DecisionDx squamous cell carcinoma (SCC) test tries to identify the risk of metastasis in SCC patients with one or more risk factors, based on 40 genes within tumor tissue. Wisconsin Physicians Service Insurance, a Medicare contractor, recently proposed not covering the company's DecisionDX-SCC test. Based partly on that news, analysts from Baird, SVB Securities, and Lake Street lowered their price targets on the stock. Baird analyst Catherine Ramsey lowered the price target for the stock from $35 to $25. Lake Street analyst Thomas Flaten dropped his target for the company from $63 to $41 and SVB Securities' Puneet Souda dropped its target for Castle from $63 to $35.35.

In response, Castle shared new data showing DecisionDx-SCC can significantly improve metastatic risk predictions in melanoma by complementing current staging systems.

The company also reaffirmed its 2023 revenue guidance to be between $170 million and $180 million and its 2025 revenue guidance for revenue to be between $255 million and $330 million. 

The drop Monday followed a big fall last week, after the company announced unimpressive trial results for its IDgenetix test to help diagnosis for patients with severe depression. The back-to-back bad news has investors concerned and a flurry of releases by Castle isn't changing their opinion, apparently.

The concern is that a setback for Castle's dermatologic tests would curb the company's growth. In the first quarter, the company's  DecisionDx-Melanoma and DecisionDx-SCC tests, combined, saw sales rise nearly 40% year over year.

https://www.fool.com/investing/2023/06/05/why-shares-of-castle-biosciences-plummeted-on-mond/

Paratek to be Acquired by Gurnet Point Capital and Novo Holdings

 Transaction Provides Paratek Shareholders with Immediate Value and Liquidity

Reflects Potential Value of $3.00 per Share of Common Stock, Including Upfront Cash Payment of $2.15 per Share and a Contingent Value Right of $0.85 on Achievement of a Commercial Milestone

Total Transaction Consideration of up to Approximately $462 Million

Paratek Pharmaceuticals, Inc. (“Paratek”) (Nasdaq: PRTK), a commercial-stage biopharmaceutical company focused on the development and commercialization of novel therapies for life-threatening diseases and other public health threats, today announced it has entered into a definitive agreement to be acquired by Gurnet Point Capital (“Gurnet Point”) and Novo Holdings A/S (“Novo Holdings”) in a transaction valued at approximately $462 million, including the assumption of debt and assuming full payment of a Contingent Value Right (CVR). Debt financing of $175 million for this transaction will be provided by funds managed by Oaktree Capital Management, L.P. (“Oaktree”).

Under the terms of the merger agreement, Gurnet Point, a leading healthcare investment firm, and Novo Holdings, a holding and investment company responsible for managing the assets and wealth of the Novo Nordisk Foundation, will acquire all outstanding shares of Paratek for $2.15 per share in cash, plus a CVR of $0.85 per share payable upon the achievement of $320 million in U.S. NUZYRA net sales (excluding certain permitted deductions, payments under Paratek’s contract with ASPR-BARDA, certain government payments and certain royalty revenue) in any calendar year ending on or prior to December 31, 2026. The upfront payment at closing represents a premium of 41% over the closing price of Paratek’s common stock as of May 31, 2023, which was the last full trading day prior to market speculation regarding a potential sale of the company.

https://www.biospace.com/article/releases/paratek-pharmaceuticals-to-be-acquired-by-gurnet-point-capital-and-novo-holdings/

Hoth: Positive Preclinical Results of HT-ALZ treatment for Alzheimer's

 Higher Dosing Shows Positive Effects on Cognitive Function

Hoth Therapeutics, Inc. (NASDAQ: HOTH), a patient-focused biopharmaceutical  company, today announced that HT-ALZ a therapeutic in development for the treatment of Alzheimer's disease achieved positive preclinical results that outpaced its pervious study.  In particular, the higher dose appears to be most beneficial in a spatial memory test performed at Washington University in St Louis.

Hoth has now completed the behavior results for Locomotor Activity/Exploratory Behavior, Elevated Plus Maze, Spatial Navigation Water Maze, Prepulse Inhibition of Startle, and Conditioned Fear and looks forward to sharing further data as it becomes available.

https://www.biospace.com/article/releases/hoth-therapeutics-announces-positive-preclinical-results-of-ht-alz-treatment-for-alzheimer-s-disease/