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Wednesday, August 9, 2023

Tango Therapeutics Stock Price Surge and Circuit Breaker Halt

 Tango Therapeutics, a biotech firm focusing on innovative cancer treatments, has experienced a remarkable surge in its stock price, prompting a circuit breaker to halt trading due to an upward trend. As of August 9, 2023, the company’s shares have skyrocketed by an astonishing 70.8%. The exact cause behind this surge and the circuit breaker activation remains undisclosed, leaving investors intrigued.

With its expertise in developing targeted therapies for cancer patients, Tango Therapeutics has established itself as a prominent player in the biotech industry. The company’s dedication to revolutionizing cancer treatment has garnered significant attention from both the medical and investment communities.

It is worth mentioning that Tango Therapeutics, although promising, operates within a volatile market environment. This volatility means that even the slightest piece of news or development can trigger substantial fluctuations in the stock’s value. Consequently, investors must exercise caution and remain vigilant when considering investments in Tango.

https://beststocks.com/tango-therapeutics-stock-price-surge-and-circ/

Failed clinical trials don’t always spell doom for a new drug

 When a clinical trial readout for what seemed a promising drug comes back negative, investors often contemplate jumping ship and companies wonder if continuing to pursue regulators’ approval is worth the trouble.

But while a failed trial might be bad news, it isn’t always an automatic deal killer for a new drug, as clinical trials analyst and consultant Frank David explains in STAT’s latest report, “Failed trial, successful drug: how a negative readout can still lead to FDA approval.” 

There’s a shared sense among industry experts that the agency has grown more permissive about negative data since the mid-2010s, David writes in the report. And while Biogen’s Alzheimer’s drug Aduhelm, which was granted accelerated approval from the U.S. Food and Drug Administration after a failed clinical study, is probably the most well-known example, there are many other drugs that have been approved despite having mixed or wholly negative clinical results.

The report includes David’s exclusive analysis of FDA approvals from 2018 to 2022, and a case history, based on data from STAT Trials Pulse — a machine learning platform developed by AppliedXL that generates real-time insights and risk assessment on studies registered in clinicaltrials.gov — showing how early signs in a drug’s developmental path can predict trouble. 

STAT recently talked with David about the report and what mixed or negative trial data really means.

Why isn’t a negative readout from a clinical trial the end of the road for a drug? Doesn’t it mean a drug isn’t effective and so pursuing FDA approval is pointless?

Frank DavidCOURTESY FRANK DAVID

Not necessarily! In some cases, there’s a mix of trials with positive and negative results, and the FDA approves the drug based on the “totality of the evidence,” so to speak. There are also many situations in which a trial shows signs of clinical benefit, but just doesn’t quite hit the statistical threshold for being called positive. Depending on the severity of the disease, what other treatments are available, and how convincing the full data package is, regulators sometimes approve drugs even if there aren’t any frankly positive randomized clinical trials.

How common is it for a drug that has failed a trial to succeed in this way?

It’s hard to give precise odds for how often a drug with a failed trial gets approved, because there aren’t great statistics on FDA rejections. But we can calculate the fraction of FDA approvals that are based at least in part on negative clinical studies. In writing this report, I found that of the 236 drugs approved by the agency from 2018 to 2022, 11 had a mix of positive and negative trial results, and an additional five had no clearly positive clinical studies. So we can say that in a recent five-year period, almost seven percent of approved drugs had at least some negative trial data.

What are some factors that make it more likely that negative data won’t ultimately stand in the way of approval?

Although each of the historical examples profiled in this report is somewhat unique, taken together they illustrate some key themes that are common to drugs that got approved with negative clinical data versus ones that didn’t. The biggest takeaway from these cases is the importance of the full data package. All else being equal, a drug with four successful studies and one failure is probably far more likely to get a favorable reception from regulators than one with one failed trial and no successes. Similarly, robust pharmacologic and translational data that the drug is hitting its target and having important effects in people can be extremely helpful. In many cases, the FDA was able to make a defensible case that the drug was clinically beneficial even though it may have barely missed the mark on a study’s primary endpoint.

In the report, you talk about the importance of a company’s relationship with the FDA in what happens after a trial fails. How does that play a role in decisions?

It’s tempting to think that drug approval is an entirely objective, data-driven exercise, but actually there’s a huge human component. Whenever a company submits an application to the FDA, it needs to make a persuasive case to the agency that the drug should get the green light. That requires expertise in communicating with regulators, which typically comes from years of experience with these sorts of interactions.

When there are negative trial data, the stakes are even higher, and the quality of the relationship is even more important. That’s because the sponsor is asking reviewers to put their reputations on the line and justify why the failed study should be discounted. That’s a pretty high bar that requires not only a plausible, science-driven argument for approval that passes the “red-faced test,” but also a desire by reviewers to stick their necks out and defend it in public. And it’s hard to hit on both of those points without a strong working relationship between the company and the agency.

Admittedly, it can be hard or even impossible from the outside to tell if the relationship between the sponsor and the FDA is extra-tight. But in the opposite scenario, it’s a really bad sign for approval in the face of negative data if you see that the relationship appears fraught. If a sponsor is issuing press releases that make scientifically questionable arguments and seem to go against the FDA precedents and clear guidance, that story is unlikely to end well for the company.

What would you say the take-home message is for investors and drugmakers in all this?

The main point here is that although a clinical failure is a huge disappointment, it’s not an automatic kiss of death for a drug’s chances at the FDA. If you’re a biotech company or investor looking at a study that just went belly-up and you see strong parallels with any of the prior approvals described in this report, then there may still be a path forward. That doesn’t mean you should be an overly optimistic Pollyanna in these cases. But it does mean that you should look objectively at the situation, maybe with the help of unbiased external advisors, to decide if there’s a credible path forward.

https://www.statnews.com/2023/08/09/failed-clinical-trials-new-drugs/

NIH trials fail to test meaningful long Covid treatments — after 2.5 years and $1 b

 More than 2.5 years after the National Institutes of Health received a $1 billion mandate from Congress to study and treat long Covid, the agency has finally launched clinical trials for the often-debilitating condition. But both scientists who study long Covid and patients who have struggled with it say the trials are unlikely to deliver meaningful treatments, suggesting the federal government’s landmark Covid research effort may have been wasted.

Millions of Americans have suffered symptoms ranging from debilitating fatigue to heart issues, some still sick after initial coronavirus infections in the pandemic’s first wave. Congress provided the NIH with $1.15 billion to help patients in December 2020 — and the agency has now spent most of that funding, according to a detailed new budget breakdown shared with MuckRock and STAT, with the majority going towards observational research rather than clinical trials.

Among the trials announced so far, the NIH’s long Covid initiative, called RECOVER, is studying only a handful of pharmaceutical treatments, along with several behavioral options. These treatments will not address the underlying biological issues of long Covid, say scientists and patient advocates who reviewed the newly public details about the studies.

Scientists also expressed concerns about how the RECOVER studies will measure the way the treatments affect patients. Without study designs that account for unique long Covid symptoms, such as delayed fatigue after exertion, the trials may miss positive impacts — or harmful side effects — of the treatments. Potential errors in the trials could have been avoided through transparency and better engagement with patients, experts and advocates say.

“Nobody in the patient community or the research community thinks this is going to be sufficient to solve the problem,” said Charlie McCone, a long Covid advocate and patient representative for RECOVER. “And there’s been no indication that there will be funding for further trials.”

The initiative’s $1.15 billion of funding has been “almost fully obligated” to different aspects of RECOVER as of June 2023, according to a previously unpublished budget breakdown that NIH Acting Director Lawrence Tabak sent to Rep. Anna Eshoo (D-Calif.) in late June. Eshoo requested information about the NIH’s long Covid research in May, following MuckRock and STAT’s investigation into RECOVER’s wasted resources.

The new budget information details exactly how much funding the agency has sunk into observational research, rather than treatment trials that would help patients directly.

About 15% of the funding — $171.5 million — went to clinical trials, under the leadership of Duke University’s Clinical Research Institute. Meanwhile, the NIH allocated the vast majority of its funds to research aimed at better understanding long Covid symptoms, according to the budget document. This includes $537 million to set up and study patient cohorts, $149 million for studying biological samples and health records, $122 million for following patients in the future and $56 million for administrative tasks provided by consulting firms RTI International and Deloitte.

This funding “has been largely wasted,” said David Putrino, director of rehabilitation innovation at Mount Sinai and a clinician studying long Covid. RECOVER’s research findings so far, such as a paper about common symptoms published in May 2023, have not added new insights to the field, he said. Instead, the agency is following an “old rulebook of biological discovery” that may take decades to identify novel treatments.

If RECOVER’s clinical trials do fail, it would be “really a travesty” after all the time and money poured into this effort, said Julia Moore Vogel, a scientist at the Scripps Translational Institute living with long Covid. Vogel and millions of other Americans with the condition are waiting on treatments to help them get back to their pre-pandemic lives. About 6% of all U.S. adults are currently experiencing long Covid symptoms, according to estimates from the Centers for Disease Control and Prevention. Of that group, seven in ten have their activities limited by their symptoms, and one in five have “significant” limitations.

Patients feel that the NIH’s delays and limited clinical trial plans do not reflect the urgency needed to find treatments. The current trials are “too little and too late,” said patient advocate Devin Russell, who has been sick since March 2020.

In a statement to MuckRock and STAT responding to questions about the trials, the agency defended its plans by referencing an extensive review process incorporating input from scientists and patients. RECOVER leaders acknowledged that additional research will be necessary, but failed to share specific plans for funding more studies.

“The RECOVER clinical trials team has followed a highly consultative process toward clinical trials,” said a spokesperson for the Department of Health and Human Services, adding that the NIH’s “comprehensive approach is poised to yield results as quickly as possible.”

Treating symptoms, not the underlying disease

The NIH and its partners at Duke have announced five clinical trials testing about a dozen treatments in total. Each trial will target one common grouping of long Covid symptoms, including persistent coronavirus lingering in the body, neurological symptoms, problems with the autonomic nervous system, sleep challenges and fatigue.

RECOVER’s leadership selected treatments based on proposals initially sent to the NIH in May 2022, the team said in a statement. Scientists and patient representatives advising the initiative reviewed the proposals, but the NIH made final decisions about which interventions to test.

Most of the treatments on deck for testing are underwhelming, said patients and experts who reviewed the plans and spoke to MuckRock and STAT. Several patients said they are particularly disappointed to see relatively few drugs among the treatments that NIH will test: the antiviral Paxlovid, two common drugs for sleep disorders and two drugs used for autoimmune disorders.

Long Covid patients desperate for symptom relief have already self-experimented with most of these treatments and many others, ranging from over-the-counter medications to meditation and yoga, Vogel said.

“I’m really anxious to see pharmaceutical interventions because a lot of patients have tried all of the other things that you might try,” she added.

There’s an overall dearth of drug trials for long Covid, said Ursula Hofer, editor in chief of The Lancet Infectious Diseases. Hofer contributed to a recent editorial that describes the issue: among 386 clinical trials related to long Covid listed on the government registry ClinicalTrials.gov, just 12 were currently recruiting and testing pharmacological interventions, Hofer and colleagues found.

“We need pharmaceutical treatments because there’s clearly something wrong with the patients,” Hofer said. Behavioral changes and other basic therapies don’t “fix the underlying issue” of long Covid, she said.

One reason for the lack of promising treatments among RECOVER’s trials is the initiative’s overall failure to learn from past research in other chronic diseases that share symptoms with long Covid, said Todd Davenport, a professor and rehabilitation expert at University of the Pacific. Davenport has studied myalgic encephalomyelitis/chronic fatigue syndrome (ME/CFS), a condition that is now a common diagnosis for long Covid patients.

Scientists on the RECOVER team “have parachuted into post-infectious illness and are now trying these things for the first time, to them,” Davenport said. “But it’s clear they haven’t done the reading.”

Davenport and other scientists outside of RECOVER have long lists of drugs that they’d like to test, most of which are not included in the NIH study.

Top of the list for many patients is low-dose naltrexone, an addiction drug that some people with long Covid and similar conditions have found helpful for alleviating symptoms. Some smaller trials are testing the drug, but a RECOVER-sponsored trial could lead to a better understanding of its potential use and legitimize it at a larger scale, said Jaime Seltzer, director of scientific and medical outreach at the ME/CFS organization ME Action.

The current slate of trials is “truly absurd,” she said, considering the large number of people who need help and the federal money provided to RECOVER.

Concerns about adaptation, engagement

For the clinical trials that are testing pharmaceutical treatments, scientists who reviewed RECOVER study designs have concerns about how the trials are structured. The NIH has claimed to consider “extensive feedback” from patients and that its trials will adapt quickly to new findings, but experts are skeptical that the agency will follow through.

Paxlovid, for example, has been a priority for RECOVER since October 2022, when the NIH and Duke announced that a clinical trial would study the antiviral medication. In late June, a similar trial at Stanford University was stopped prematurely after an interim data analysis showed Paxlovid was not helping the trial’s participants.

RECOVER will test the drug for a longer course than the Stanford study did: 25 days, compared to 15. The RECOVER team said it “had already been planning” a longer study period when the disappointing Stanford study results were first reported, and outside researchers would like to see further changes. The 25-day study period is still “far too short” to see significant results, Seltzer said, as past studies of antiviral drugs for ME/CFS suggest that months of treatment are needed to impact symptoms. There are other antiviral drugs that could be tried as well, she added.

The NIH’s trials also may fail to correctly measure how patients respond to treatments, experts say. Lauren Stiles, a dysautonomia researcher and president of the advocacy group Dysautonomia International, is particularly worried about the trial focused on the autonomic nervous system. She serves as a patient representative within RECOVER advising this trial and has reviewed drafts of the study’s design.

The trial will test intravenous immunoglobulin (IVIG), a treatment used for people with compromised immune systems, as well as ivabradine, a drug used to treat chronic heart failure. IVIG, in particular, could help people with long Covid by boosting patients’ immune systems, but RECOVER’s trial may compare it against another drug that has similar effects for patients with autonomic symptoms — and may fail to measure its impacts with the appropriate tests, Stiles said.

In response to a question about why RECOVER may have disregarded a patient representative’s feedback in designing this trial, the initiative’s leaders said: “Patients have been at the center of RECOVER from the beginning and have provided invaluable input to help improve the program.” The autonomic trial is currently going through FDA review and will launch in the next two to three months, according to the NIH, so the design could change.

Another potential improvement would be incorporating patients’ capacity for exertion into all trials, said Davenport, the rehabilitation expert.

One of the most common long Covid symptoms is post-exertional malaise, a dramatic worsening of symptoms after physical or mental exertion. For patients, measuring whether “they’re able to do more of their activity with less symptoms” should be considered for trial results, Davenport said. Conversely, increased symptoms after a treatment could indicate a safety risk.

This type of measurement should be particularly important for RECOVER’s neurological trial, in which patients will do computer training programs intended to help with cognitive symptoms, Davenport said. Such programs could trigger post-exertional malaise, in a similar manner to the heavily criticized exercise study that RECOVER has put on hold.

“The cognitive platform and the exercise intolerance platform really have the same foundational problems,” Davenport said.

The exercise study, meanwhile, is currently “under development” as RECOVER seeks further input from scientists and patients and will launch by the end of 2023, the initiative’s leaders said. Their statement did not include further details about how RECOVER is revising this trial.

RECOVER could have avoided potential errors in its study design through direct outreach with patients, earlier in the research process, experts say. The program includes many patients serving on advisory committees, more than 30 of whom were directly involved with reviewing clinical trial proposals, according to RECOVER’s statement. But it’s unclear how this feedback was incorporated into clinical trial plans.

What’s next for NIH?

Scientists and patient advocates who spoke to MuckRock and STAT agree that the current slate of clinical trials is unlikely to find meaningful treatments for long Covid. In the meantime, millions of Americans will still be sick, some even unable to work or participate in other day-to-day activities.

At a press briefing discussing the current trials, NIH officials acknowledged they will need more funding to continue studying this disease, but it’s unclear where this money will come from as the agency faces potential budget cuts. It’s also unclear when further trials might start, as the current clinical trials are expected to run “until at least fiscal year 2027,” per Tabak’s letter to Rep. Eshoo.

RECOVER leaders pointed out that scientists can also submit long Covid projects to the NIH in the agency’s regular application cycles.

Another option might be long Covid requests in the NIH’s budget proposals for 2025, said Michael Sieverts, a member of the long Covid Patient-Led Research Collaborative who has a background in federal budgeting. But even then, “if the next trials aren’t funded until 2025, they’re not starting for 18 months” after that, he said.

Such long waits — and reliance on typical funding procedures — stand in stark contrast to the urgency that many scientists outside of RECOVER, such as Putrino at Mount Sinai, feel in studying long Covid. Patients deserve fast answers and disruptive research, not “incremental innovation,” he said. Putrino expects that scientists receiving funding from private sources will find those answers far more quickly than the NIH will.

Hoth: Positive Preclinical End Point Results of HT-ALZ Treatment for Alzheimer's

 HT-ALZ Showed Improvement on Several Tests of Cognitive Function

HT-ALZ Showed Positive Benefits with Reductions in Anxiety
Completed Dose Response Study Leads Hoth to Begin Formulation Development

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 ("AD"), achieved positive preclinical end points in a study conducted at Washington UniversitySt. Louis.

https://finance.yahoo.com/news/hoth-therapeutics-announces-positive-preclinical-121300627.html

Zoom reverses policy that allowed it to train AI on customer data

 Zoom has made changes to its terms of service after online blowback over recent updates to the company’s fine print allowing AI training on customer data. A report from StackDiary over the weekend highlighted how the changes, which rolled out in March without fanfare, appeared to grant the company sweeping control over customer data for AI training purposes. In response, Zoom published a blog post today claiming it wouldn’t do what its terms said it could do; the company then updated its terms in response to the continued blowback. It now says it doesn’t train AI models on consumer video, audio or chats “without customer consent.”

At least part of the issue stemmed from Zoom’s experimental AI tools, including IQ Meeting Summary (ML-powered summarizations) and IQ Team Chat Compose (AI-powered message drafting). Although account owners have to provide consent before starting a meeting using these tools, additional participants are only presented with two options: accept the terms and join the meeting, or reject them and leave the meeting.

“What raises alarm is the explicit mention of the company’s right to use this data for machine learning and artificial intelligence, including training and tuning of algorithms and models,” Alex Ivanovs wrote for Stack Diary. “This effectively allows Zoom to train its AI on customer content without providing an opt-out option, a decision that is likely to spark significant debate about user privacy and consent.” 

Ivanovs highlighted how the terms give it the right to “redistribute, publish, import, access, use, store, transmit, review, disclose, preserve, extract, modify, reproduce, share, use, display, copy, distribute, translate, transcribe, create derivative works, and process Customer Content and to perform all acts with respect to the Customer Content.”

In a company blog post published Monday, Zoom’s Chief Product Officer Smita Hashim stressed that account owners and administrators indeed have to provide consent before choosing to share their data for AI training, insisting it’s “used solely to improve the performance and accuracy of these AI services.” Hashim added that “even if you chose to share your data, it will not be used for training of any third-party models.” She continued: “We have permission to use this customer content to provide value-added services based on this content, but our customers continue to own and control their content. For example, a customer may have a webinar that they ask us to livestream on YouTube. Even if we use the customer video and audio content to livestream, they own the underlying content.”

“We will not use customer content, including education records or protected health information, to train our artificial intelligence models without your consent,” the blog post reads. A new section added to Zoom’s terms today makes it clearer: “Notwithstanding the above, Zoom will not use audio, video or chat Customer Content to train our artificial intelligence models without your consent.”

“Our goal is to enable Zoom account owners and administrators to have control over these features and decisions, and we’re here to shed light on how we do that and how that affects certain customer groups,” Hashim wrote.

https://www.engadget.com/zoom-reverses-policy-that-allowed-it-to-train-ai-on-customer-data-212230598.html

Olema Q2 update

 

  • Initiation of OPERA-01 pivotal Phase 3 monotherapy clinical trial on track; expecting to enroll first patient in fourth quarter

  • New clinical data for palazestrant (OP-1250) to be presented in the fourth quarter including both monotherapy and CDK4/6 inhibitor combination updates

  • Cash, cash equivalents and marketable securities of $167.4 million as of June 30, 2023, expected to fund operations into the second quarter of 2025

 Olema Pharmaceuticals, Inc. (“Olema”, “Olema Oncology”, Nasdaq: OLMA), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted therapies for women’s cancers, today reported financial results for the second quarter ended June 30, 2023, and provided a corporate update.

“Olema is on track to deliver on significant milestones this year, including initiating our first pivotal Phase 3 trial, OPERA-01, which will test palazestrant (OP-1250) as a monotherapy in the second- and third-line metastatic setting, as well as presenting new data from our ongoing monotherapy and combination clinical studies,” said Sean P. Bohen, M.D., Ph.D., President and Chief Executive Officer of Olema Oncology. “We are actively engaged in start-up activities for our OPERA-01 Phase 3 clinical trial, with enrollment expected to begin in the fourth quarter. Among other upcoming milestones, we look forward to presenting our mature Phase 2 monotherapy data as part of an oral presentation at the ESMO Congress in Madrid in October. Our goal with palazestrant remains to significantly improve upon current standard-of-care endocrine therapy as the backbone treatment for metastatic breast cancer.”

https://finance.yahoo.com/news/olema-oncology-reports-second-quarter-200300735.html

NeuroPace ups guidance after Q2

 Second quarter 2023 revenue of $16.5 million increased 62% year-over-year

Full-year revenue guidance increased to $59-$61 million, up from $52-54 million

Cash burn reduced to $4 million in the second quarter of 2023, relative to $9.8 million in the first quarter of 2023

 NeuroPace, Inc. (Nasdaq: NPCE), a commercial-stage medical device company focused on transforming the lives of people living with epilepsy, today reported financial results for the second quarter ended June 30, 2023.

Recent Highlights

  • Achieved total revenue of $16.5 million for the second quarter of 2023, representing a 62% increase over the second quarter of 2022.

  • Through a disciplined approach to cash management, reduced cash burn to $4 million from $9.8 million in the first quarter of 2023, further extending the Company’s cash runway.

  • NAUTILUS trial enrollment remains on track to expand indication into generalized epilepsy, with completed enrollment anticipated in the first quarter of 2024.

  • Completed initial implants for first cohort of patients in NIH-funded feasibility study in Lennox-Gastaut syndrome, or LGS.

  • Enhanced efforts to expand access to 1,800 epileptologists and all functional neurosurgeons based on updated site qualification criteria, which NeuroPace believes significantly increases total addressable market in the U.S.