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Monday, July 3, 2023

FDA declines to approve Amneal Pharma's Parkinson's drug

 The U.S. Food and Drug Administration (FDA) has declined to approve Amneal Pharmaceuticals' drug for Parkinson's disease due to inadequate safety data on the treatment to help control symptoms in patients for a longer duration, the company said on Monday.

Shares of Amneal Pharmaceuticals fell 13.1% to $2.7 in choppy after-market trading.

The FDA in a complete response letter said while the company established the safety of one ingredient, levodopa, based on some studies, it was not able to adequately establish safety for the other ingredient, carbidopa.

The health regulator has requested additional information on the safety of the drug, while it did not identify any efficacy or manufacturing issues with the drug.

Amneal's drug is a new formulation of carbidopa-levodopa, the standard of care for Parkinson's, and is designed in a way that allows it to remain in a certain area of the small intestine for a longer period, helping in its consistent absorption.

The company said it will work closely with the health regulator to address the issues and plans to meet with the agency.

The health regulator's decision is a potential hurdle to the company, which has been looking to grow its portfolio of branded drugs, expecting over $500 million in revenues from its specialty business by 2027.

The drugmaker said the decision does not impact its 2023 financial forecast as it did not include the revenue from the drug.

Amneal currently has another Parkinson's drug, Rytary, which was approved in 2015 in the market but had been struggling to gain a foothold in the treatment space, with only 4% of patients using it.

Parkinson's is a brain disorder that causes unintended or uncontrollable movements and is the second most-deadly neurodegenerative disease after Alzheimer's. There is no cure for Parkinson's currently, but medicines and other therapies can help relieve symptoms.

https://finance.yahoo.com/news/1-us-fda-declines-approve-183256703.html

33% of Type 1 Diabetes Patients Insulin-Free With Stem Cells

 An investigational allogeneic stem cell–derived pancreatic islet cell replacement therapy (VX-880, Vertex Pharmaceuticals) continues to show promise as a treatment for type 1 diabetes, according to the latest data, from six patients thus far.

Two of the six are insulin-independent beyond 1 year after receiving the VX-880 infusions, and three others who received them more recently are on a similar trajectory. One dropped out because of reasons unrelated to the therapy. The remaining five are continuing to receive immunosuppressive treatment to prevent rejection of the islets. The six all had undetectable insulin secretion and impaired hypoglycemic awareness and severe hypoglycemia as the criterion to enter the phase 1/2 study.

"These new findings demonstrate the potential of stem cell-derived islets as a future treatment for patients with type 1 diabetes, signaling a new era that could potentially remove the need for exogenously administered insulin to achieve glycemic control," said lead investigator Trevor W. Reichman, MD, PhD, surgical director of Pancreas and Islet Cell Transplantation at the University of Toronto, Canada.

Reichman presented the data at the annual Scientific Sessions of the American Diabetes Association (ADA) last week, as an update to the report of the first two patients at last year's ADA meeting  "We are hopeful that this first-of-its-kind research could be a game-changer for the treatment of type 1 diabetes," he emphasized.

Co-investigator Maria Cristina Nostro, PhD, senior scientist at McEwen Stem Cell Institute, Toronto, told Medscape Medical News, "The clinical trial data are extremely exciting…I think what was very beautiful is the glucose tolerance test where the insulin secretion was almost like a person without type 1 diabetes. For someone who is in the lab doing basic science research…all the work we've put into this, it's a labor of love. We've been trying to generate the cells for so long, and now to see this, it's fantastic."  

Two Meet Primary Endpoint, Three More on the Right Path

The six patients had a mean age of 44 years, and mean 23 years' diabetes duration. Three each were male and female. Their mean baseline A1c was 8.1%, and fasting C-peptide was undetectable. They had experienced a mean of 3.3 severe hypoglycemia episodes in the year prior to receiving the infusion, which was delivered to the portal vein similarly to the procedure with cadaveric donor islets, Reichman said.

The first two patients, including the one who dropped out, received half target doses of VX-880 (trial part A), while the rest, enrolled sequentially (part B), were each administered the full target dose of VX-880 given as a single infusion.

immunosuppressants, tacrolimus/sirolimus, was used to protect the cells from the recipient's immune system. After the infusion, all six participants had C-peptide production, reduction in A1c despite reduced insulin use, and no severe hypoglycemia episodes from day 90 onwards.

Both participants with at least a year of follow-up met the criteria for the primary endpoint of A1c less than 7% with no severe hypoglycemic episodes. The first participant had an A1c of 5.3% at month 21, and the second 6.0% at 12 months. Both had sustained glucose-responsive insulin production with a mixed-meal tolerance test and exceeded the ADA target of more than 70% time-in blood glucose range assessed with continuous glucose monitoring.  

Safety: No Major Concerns Thus Far

Among all six, adverse events included elevations in the liver enzyme transaminase, occurring shortly after VX-880 infusion that were transient and resolved. No serious adverse events were considered related to the therapy.

Regarding safety, Nostro said, "With this trial, I have no concerns because they're using immunosuppression, so should anything go bad you remove immunosuppression and the cells would be destroyed by the immune system. So it's a perfect trial in a way."

However, she noted, "Moving forward, as we develop something that will be genetically modified…I think this is the future because if you're going to treat people with type 1 diabetes we have to eliminate the immune suppression. I think the concern would be making sure the genetically modified cells are safe."

Nostro, who gave an introductory presentation at the beginning of the symposium where the VX-880 data were presented, explained that in a current trial of genetically modified cells, "they're placing the product inside a device so that the cells would be retrievable. It might not be perfect but at least it's going to tell us whether the genetically modified product is safe, which I think is what we need to use."

In her talk, Nostro also summarized ongoing work in this field involving efforts to improve the generation of stem cell–derived islets with no "off target" non-beta cells to ensure consistency, optimization of engraftment, and elimination of immunosuppression.

She told Medscape: "[VX-880] is the beginning. This is the first product that's going to be in the clinic, but I can imagine how five, 10 years from now we will have different and more enhanced solutions for type 1 diabetes and who knows, maybe even for type 2." 

Based on the data so far, the VX-880 trial is now moving to part C, in which 10 concurrently enrolled participants will receive the full target dose of the product. The trial, previously exclusively in the United States, has now expanded to additional sites in Norway, Switzerland, and the Netherlands.    

The study was funded by Vertex. Reichman is on advisory boards for Vertex and Sernova Inc. Nostro was a consultant for Sigilon Therapeutics from 2018-2022, currently receives research support from Universal Cells, and has a patent licensed to Sernova.

Annual Scientific Sessions of the American Diabetes Association.
Abstract 836-P. Presented June 23, 2023.

https://www.medscape.com/viewarticle/993974

Icosavax institutional shareholders own 53% of the company

 

  • Given the large stake in the stock by institutions, Icosavax's stock price might be vulnerable to their trading decisions

  • 52% of the business is held by the top 6 shareholders

  • Using data from analyst forecasts alongside ownership research, one can better assess the future performance of a company

Every investor in Icosavax, Inc. (NASDAQ:ICVX) should be aware of the most powerful shareholder groups. With 53% stake, institutions possess the maximum shares in the company. Put another way, the group faces the maximum upside potential (or downside risk).

Given the vast amount of money and research capacities at their disposal, institutional ownership tends to carry a lot of weight, especially with individual investors. As a result, a sizeable amount of institutional money invested in a firm is generally viewed as a positive attribute.

Let's delve deeper into each type of owner of Icosavax, beginning with the chart below.


ownership-breakdown
ownership-breakdown

What Institutional Ownership Says About Icosavax

Many institutions measure their performance against an index that approximates the local market. So they usually pay more attention to companies that are included in major indices.

As you can see, institutional investors have a fair amount of stake in Icosavax. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. It is not uncommon to see a big share price drop if two large institutional investors try to sell out of a stock at the same time. So it is worth checking the past earnings trajectory of Icosavax, (below). Of course, keep in mind that there are other factors to consider, too.

earnings-and-revenue-growth
earnings-and-revenue-growth

Since institutional investors own more than half the issued stock, the board will likely have to pay attention to their preferences. Hedge funds don't have many shares in Icosavax. FMR LLC is currently the largest shareholder, with 12% of shares outstanding. For context, the second largest shareholder holds about 12% of the shares outstanding, followed by an ownership of 9.4% by the third-largest shareholder. Additionally, the company's CEO Adam Simpson directly holds 1.8% of the total shares outstanding.

We also observed that the top 6 shareholders account for more than half of the share register, with a few smaller shareholders to balance the interests of the larger ones to a certain extent.

While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. Quite a few analysts cover the stock, so you could look into forecast growth quite easily.

Insider Ownership Of Icosavax

While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Company management run the business, but the CEO will answer to the board, even if he or she is a member of it.

Insider ownership is positive when it signals leadership are thinking like the true owners of the company. However, high insider ownership can also give immense power to a small group within the company. This can be negative in some circumstances.

Shareholders would probably be interested to learn that insiders own shares in Icosavax, Inc.. In their own names, insiders own US$17m worth of stock in the US$494m company. Some would say this shows alignment of interests between shareholders and the board. But it might be worth checking if those insiders have been selling.

General Public Ownership

The general public-- including retail investors -- own 19% stake in the company, and hence can't easily be ignored. This size of ownership, while considerable, may not be enough to change company policy if the decision is not in sync with other large shareholders.

Private Equity Ownership

With a stake of 19%, private equity firms could influence the Icosavax board. Sometimes we see private equity stick around for the long term, but generally speaking they have a shorter investment horizon and -- as the name suggests -- don't invest in public companies much. After some time they may look to sell and redeploy capital elsewhere.

Public Company Ownership

We can see that public companies hold 6.3% of the Icosavax shares on issue. It's hard to say for sure but this suggests they have entwined business interests. This might be a strategic stake, so it's worth watching this space for changes in ownership.

https://finance.yahoo.com/news/icosavax-inc-nasdaq-icvx-largely-130022174.html


Medical Spending Higher for Kids Outside Healthy Weight Limits

 Medical expenditures were higher for children and adolescents who did not have a healthy body mass index (BMI), a cross-sectional study showed.

Among over 200,000 youths ages 2 to 19 years, differences in total expenditures were highest for those with severe obesity ($909, 95% CI 600-1,218) and underweight ($671, 95% CI 286-1,055) compared with those with healthy weight, reported Ashutosh Kumar, PhD, of the CDC, and colleagues.

Higher total expenditures were also reported for those with moderate obesity ($261, 95% CI 70-451) and overweight ($193, 95% CI 37-348), they noted in JAMA Pediatricsopens in a new tab or window.

As for out-of-pocket (OOP) expenditures, differences compared with healthy weight were:

  • Severe obesity: $121, 95% CI 86-155
  • Underweight: $117, 95% CI 78-157
  • Moderate obesity: $49, 95% CI 29-69
  • Overweight: $31, 95% CI 14-49

"We found that expenditures were higher for all other BMI categories compared with healthy weight and BMI-associated expenditures varied by sex and age group," Kumar and colleagues wrote. "Applied to the population of privately insured U.S. individuals aged 2 to 19 years, we estimated that total medical expenditures associated with underweight and obesity were about $1 billion and $2.4 billion (in 2018 USD), respectively."

In an email to MedPage Today, Kumar noted that "childhood obesity has more than tripled during the last four decades, and it is a major public health concern. It is critical to learn about the medical costs associated with childhood obesity to understand the economic burden of this epidemic."

Furthermore, "there is scant evidence on the medical expenditures associated with underweight among the pediatric population," he added. "More interventions that promote healthy lifestyle [and] better nutrition with greater emphasis on physical activity are needed to reduce BMI-associated risks."

In an editorial accompanying the study

opens in a new tab or window, Davene Wright, PhD, of Harvard Medical School and Harvard Pilgrim Health Care Institute in Boston, and colleagues pointed out that "there are many nuances to studies of BMI-associated medical expenditures, including the causal framework, adjustment for confounders, and what resource utilization contributes to costs with the time horizon that is observed."

"Researchers must use rigorous causal approaches for estimating costs that can appropriately inform decision making regarding BMI class-related clinical and policy interventions and should measure variation in class by demographic group, which could inform targets for clinical and policy interventions," they wrote.

"As the behavioral, pharmacologic, and surgical therapeutic arsenal for managing pediatric weight disorders evolves, researchers must be conscious of how these cost estimates can and should be used and what populations may have differential access to treatments that could influence costs," they added.

Compared with kids ages 6 to 11 years, those ages 2 to 5, 12 to 17, and 18 to 19 had higher total expenditures by $186, $2,097, and $3,462, respectively.

For the three youngest age groups, excess total expenditures were highest for those with severe obesity and underweight.

Among males, excess total expenditures were higher for those with underweight by $878, by $586 for those with severe obesity, and by $228 for those with overweight compared with those with healthy weight. For females, excess total expenditures were higher for those with severe obesity by $1,143 and by $379 for those with moderate obesity.

Higher OOP expenditures were found for all BMI categories other than healthy weight, and expenditures were similar among sexes.

By age, OOP expenditures followed a similar trend as total expenditures. However, expenditures were lower, and statistical significance varied for youths with moderate obesity. For kids ages 2 to 5 and 12 to 17, moderate obesity was associated with significantly higher OOP expenditures of $42 and $40, respectively.

For this study, Kumar and colleagues used IQVIA's ambulatory electronic medical records dataset linked with the company's PharMetrics Plus Claims database from January 2018 through December 2018. The study sample included 205,876 privately insured individuals with a BMI measurement in 2018. Median participant age was 12, 50.5% were males, and the majority were white.

Though the dataset used comprised a geographically diverse patient population, it was not nationally representative, the authors acknowledged. The study sample included only patients with continuous enrollment in private insurance plans for 11 months and with valid height and weight measurements in 2018.

In addition, though they accounted for demographic characteristics and confounding conditions, "many other important determinants of BMI and expenditures, such as household income, education, smoking, or ill health from other confounding diseases, were not included," Kumar and team wrote.

Disclosures

The study authors and editorialists reported no conflicts of interest.

Primary Source

JAMA Pediatrics

Source Reference: opens in a new tab or windowKumar A, et al "Body mass index and associated medical expenditures in the US among privately insured individuals aged 2 to 19 years in 2018" JAMA Pediatr 2023; DOI: 10.1001/jamapediatrics.2023.2012.

Secondary Source

JAMA Pediatrics

Source Reference: opens in a new tab or windowLuviano A, et al "Current and future challenges regarding estimating costs to determine the value of interventions to manage unhealthy weight" JAMA Pediatr 2023; DOI: 10.1001/jamapediatrics.2023.2018.


https://www.medpagetoday.com/pediatrics/obesity/105306

Journey: Topline Results from the Phase 3 Rosacea Trial Next Week

 Journey Medical Corporation (Nasdaq: DERM) (“Journey Medical”), a commercial-stage pharmaceutical company that primarily focuses on the selling and marketing of FDA-approved prescription pharmaceutical products for the treatment of dermatological conditions, today announced that it expects topline results from the two Phase 3 multicenter, randomized, double-blind, parallel-group, active-comparator and placebo-controlled clinical trials, MVOR-1 (Minocycline versus Oracea® in Rosacea-1) and MVOR-2 (Minocycline versus Oracea in Rosacea-2), evaluating DFD-29 (Minocycline Hydrochloride Modified Release Capsules, 40 mg) for the treatment of moderate to severe papulopustular rosacea (“PPR”), to be announced the week of July 10, 2023. DFD-29 is being developed for the treatment of PPR in collaboration with Dr. Reddy’s Laboratories Ltd.

The DFD-29 Phase 3 clinical program consists of two multicenter, randomized, double-blind, parallel-group, active-comparator and placebo-controlled clinical trials, MVOR-1 (Minocycline versus Oracea in Rosacea-1) and MVOR-2 (Minocycline versus Oracea in Rosacea-2), that are expected to support a New Drug Application (“NDA”) submission in the United States and a Marketing Authorization Application in Europe. The combined enrollment target of 640 total adult patients with moderate to severe PPR was achieved in the trials; one trial enrolled patients in the United States, and the other enrolled patients in both the United States and Europe. The MVOR-1 and MVOR-2 clinical trials are randomized in a 3:3:2 ratio to DFD-29 (Minocycline Hydrochloride Modified Release Capsules, 40 mg), Oracea (Doxycycline Capsules, 40 mg) or placebo once daily for 16 weeks. The primary objective is to evaluate the safety, efficacy and tolerability of DFD-29 compared to placebo for the treatment of PPR. The secondary objective is to evaluate the safety, efficacy and tolerability of DFD-29 compared to Oracea (Doxycycline Capsules, 40 mg).

Protagonist investors flake as psoriasis pill disappoints

 JNJ-2113 appears better than established oral psoriasis drugs, based on a cross-trial comparison using 16-week data from the phase 2 Frontier-1 trial, presented today. But it has fallen short of the “biologic-like” efficacy that Johnson & Johnson wanted to see; J&J has previously said JNJ-2113 would have to match the efficacy of its injectable anti-IL-23 psoriasis product Tremfya to justify further development. The asset’s originator, Protagonist Therapeutics, has borne the brunt of the disappointment, with its stock slumping 28% on concern that J&J might cool on the project. The small biotech will receive $50m milestone on the start of phase 3 trials, and news on that front is now keenly awaited to calm jitters. Though disappointing for Protagonist and J&J, the readout has been a clear positive for Ventyx Biosciences. The group is up 21% as investors believe the way is now clear for its Tyk2 inhibitor VTX958 – one of biotech’s most valuable unpartnered assets – to distinguish itself as a promising oral when its phase 2 Serenity PsO trial reads out this year. Full Frontier-1 results are expected in a late breaker presentation at the World Congress of Dermatology in Singapore at 9pm Eastern time tonight.

Ph2 Frontier-1Ph3 Voyage 1Ph3 Voyage 2Ph3 PSO-1Ph3 PSO-2Ph3 Psor-1Ph3 Psor-2%Best of the orals?JNJ-2113 versus the competition in psoriasisPasi-75Pasi-90JNJ-2113 25mg QDJNJ-2113 50mg QDJNJ-2113 100mg QDJNJ-2113 25mg BIDJNJ-2113 100mg BIDTremfya 100mgTremfya 100mgSotyktu 6mg QDSotyktu 6mg QDOtezla 30mg BIDOtezla 30mg BID0255075100VantageOtezla 30mg BID Pasi-75: 28

Note: Pasi-90 data were not released for Amgen's Otezla in the Psor-1 and -2 trials. Tremfya is subcutaneous; all the others are oral. Data at 12-16 weeks. 


https://www.evaluate.com/vantage/articles/news/trial-results-snippets/protagonist-investors-flake-psoriasis-pill-disappoints

Advil Owner Haleon to Explore Sale of Nicotine Gum Business

 

  • Haleon is working with adviser to find potential buyers
  • Nicotinell could be worth as much as $800 million in a sale

Consumer health giant Haleon Plc is exploring a potential divestment of some smoking cessation products as it seeks to offload non-core businesses, people familiar with the matter said. 

Haleon is working with an adviser to identify potential suitors for the Nicotinell brand of nicotine gum, patches and lozenges, according to the people. The business is attracting interest from both investment firms and consumer companies and could be worth as much as $800 million in a sale, they said.

https://www.bloomberg.com/news/articles/2023-07-03/advil-owner-haleon-said-to-mull-sale-of-nicotine-gum-business