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Friday, September 15, 2023

BrainsWay Forges Strategic Partnership with Treatment Provider in Northeast U.S.

 BrainsWay Ltd. (NASDAQ & TASE: BWAY) (“BrainsWay” or the “Company”), a global leader in advanced non-invasive neurostimulation treatments, today announced the formation of a strategic partnership with a prominent mental health clinical treatment provider with an increasingly expanding footprint in the Northeast region of the United States. As a result of this partnership and a series of successive orders, a total of 10 Deep Transcranial Magnetic Stimulation (Deep TMS™) systems will be installed by this provider in 2023 alone, with the potential for additional systems thereafter.


"We are thrilled to strengthen our relationship with this esteemed and rapidly growing mental health services provider,” said Hadar Levy, Chief Executive Officer of BrainsWay. “Their order of 10 systems this year alone, with interest in additional systems in the future, is a testament to this customer’s confidence in BrainsWay’s status as the premier TMS technology platform in the industry.”

The announcement is the latest demonstration of the Company’s increasing traction with a variety of new institutional and enterprise customers in the U.S and internationally.

“We remain steadfast in our mission to redefine mental health treatment by leveraging our advanced and unique Deep TMS technology to address the alarming global increase in the prevalence of mental health conditions and the corresponding rise in demand for innovative and effective treatment modalities,” concluded Mr. Levy.

https://www.marketscreener.com/quote/stock/BRAINSWAY-LTD-57476379/news/BrainsWay-Forges-Strategic-Partnership-with-Treatment-Provider-in-Northeast-U-S-44771921/

Iovance: FDA Updates PDUFA Date for Lifileucel for Melanoma

Priority Review Continues with Successful Facility Inspections Completed,
no Major Review Issues

FDA Extends PDUFA Date to February 24, 2024 on Resource Constraints and Agrees to Work with Iovance to Expedite Remaining Review

https://finance.yahoo.com/news/u-food-drug-administration-updates-221000095.html

RayzeBio, Inc. Announces Pricing of Upsized $311 Million IPO

 RayzeBio, Inc. (Nasdaq: RYZB), a targeted radiopharmaceutical company developing an innovative pipeline against validated solid tumor targets, today announced the pricing of its upsized $311 million initial public offering of 17,277,600 shares of common stock at a price to the public of $18.00 per share. RayzeBio is offering 16,114,600 shares of common stock and the selling stockholder named in the prospectus is offering 1,163,000 shares of common stock. RayzeBio will not receive any proceeds from the sale of shares by the selling stockholder. The gross proceeds to RayzeBio from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by RayzeBio, are expected to be approximately $290.1 million. In addition, RayzeBio has granted the underwriters a 30-day option to purchase up to an additional 2,591,640 shares of common stock at the initial public offering price, less underwriting discounts and commissions.

The shares are expected to begin trading on The Nasdaq Global Market on September 15, 2023 under the symbol "RYZB." The offering is expected to close on September 19, 2023, subject to the satisfaction of customary closing conditions.

J.P. Morgan, Jefferies, Evercore ISI and Truist Securities are acting as joint book-running managers for the offering.

https://finance.yahoo.com/news/rayzebio-inc-announces-pricing-upsized-225100626.html

AstraZeneca’s Alexion Reaches $125M Settlement in Soliris Sales Lawsuit

 AstraZeneca’s rare diseases arm Alexion on Wednesday reached a settlement with its investors over a 2016 lawsuit alleging illegal and unethical sales practices for its hemoglobinuria therapy Soliris (eculizumab), as reported by Bloomberg Law.

Under the settlement, which the parties are still seeking a judge’s approval for, Alexion will not have to admit wrongdoing but will make a $125 million payment to resolve claims that it boosted sales for Soliris.

The investors first filed their class action complaint in 2016, a few weeks after the rare disease specialist announced that it was looking into whistleblower reports that some Alexion personnel had “engaged in sales practices that were inconsistent with company policies,” particularly involving its lead asset Soliris, Alexion said in a press release at the time.

In their lawsuit, the investors claimed that Alexion made false or misleading statements regarding its sales practices for Soliris which, in turn, inflated the therapy’s revenues and were likely unsustainable. The investors also alleged that this resulted in misleading public pronouncements from the company.

Amid the Soliris controversy, in December 2016, former Alexion CEO David Hallal and CFO Vikas Sinha stepped down from their posts. At the time, Hallal said his resignation was due to “personal reasons,” while Sinha cited the decision to “pursue other opportunities.”

In its third-quarter 2016 earnings report, posted January 2017, Alexion revealed the results of its investigation into the whistleblower allegations, announcing that it found that “senior management applied pressure on personnel to use pull-in sales to meet targets.”

This sales tactic involves placing orders for Soliris in an earlier fiscal quarter than when the therapy is needed by a customer. This artificially increases that quarter’s sales at the cost of a reduction in revenue in the subsequent quarter.

Despite acknowledging that these pull-in practices occurred, Alexion nevertheless said that these “are not inherently problematic or impermissible,” as long as they are conducted in accordance with U.S. regulations. The audit committee that conducted the investigation likewise agreed that there were “no financial statement errors related to the pull-in sales.”

Since then, there have been several other inquiries into Alexion’s business practices. In July 2017, the Department of Health and Human Services launched a probe into the company for its alleged support of charities that provide financial assistance to Medicare patients taking Alexion’s products.

AstraZeneca bought Alexion in December 2020 for $39 billion.

https://www.biospace.com/article/astrazeneca-s-alexion-reaches-125m-settlement-in-soliris-sales-tactics-lawsuit/

5 Key Regulatory Guidance Documents Issued in 2023

 The FDA has issued a flurry of draft and final guidance documents this year pertaining to drug development, including ones aimed at increasing available data on diverse patient populations, facilitating the approval of more medicines for kids and addressing risks associated with laboratory developed tests for cancer drugs.

BioSpace takes a closer look at five of the more than 30 documents that could have a significant impact on the drug development space.

Informed Consent Guidance for IRBs, Clinical Investigators, and Sponsors

Issued in August, this document clarifies requirements for informed consent for clinical trial participants. It offers guidance on funding disclosures, statements involving unforeseen risks, situations where an investigator must end a subject’s participation without their informed consent and consequences when a participant chooses to withdraw from a study.

It also reaffirms general requirements, including that study information must be provided to the participant—or their authorized representative—in a language they can understand, and that the information must not be written in a way that would require the participant to waive any legal rights. The updated guidance finalizes the initial Informed Consent Information Sheet, which was issued in July 2014.

Post-marketing Approaches to Obtain Data on Underrepresented Populations

Also in August, the FDA released guidance aimed at supporting diversity in drug development. The document—which is focused on gleaning data on populations that are historically underrepresented in clinical research—discusses design and statistical considerations for subpopulation analyses, post-marketing approaches to obtaining information on a drug’s benefit-risk profile and mechanisms by which the FDA can request safety and efficacy data be collected in this setting.

The FDA notes in the document that disease prevalence and outcomes can vary based on race, ethnicity, sex and age, among other demographic factors, and that having safety and efficacy data on a drug across diverse populations “is important to support the generalizability of the results” to the broad population expected to take it. 

The new guidance follows other documents with similar aims, including the Collection of Race and Ethnicity Data in Clinical Trials guidance, issued in October 2016, and the Enhancing the Diversity of Clinical Trial Populations –Eligibility Criteria, Enrollment Practices, and Trial Designs guidance, published in November 2020.

Guardrails Around Certain Laboratory-Developed Tests

Precision cancer therapeutics are often approved alongside a companion diagnostic test (CDx) that analyzes human samples for biomarkers to help match patients to specific treatments. But in some cases, a precision therapy that requires such a test will be approved before a CDx is authorized. In such circumstances, healthcare providers may use a laboratory developed test (LDT) to aid in treatment decisions. Developed and used within a single lab, such tests have generally been exempt from premarket review by the FDA.

But in June, the FDA stated in a press release that it has become “increasingly concerned” that these tests might not provide accurate, reliable results, and introduced a voluntary pilot program intended to address these risks. Using performance information for tests used to enroll patients in clinical trials for subsequently approved drugs, the FDA will publish minimum performance characteristics for LDTs that don’t require approval by the agency. Labs developing LDTs will then be able to refer to these guidelines when developing future tests.

Recommendations on Decentralized Clinical Trials

Decentralized clinical trials (DCTs)—those occurring either partly or completely outside of traditional clinical trial sites—ballooned in popularity during the COVID-19 pandemic, and the Food and Drug Omnibus Reform Act requires the FDA to issue or revise draft guidance with recommendations to “clarify and advance” the use of DCTs before the end of 2023. So, in May, the regulator issued draft guidance with recommendations for the implementation of these trials.

In a press release issued at the time, the FDA said the guidance is meant to support DCTs, with the ultimate goal of diversifying clinical trial participation and improving trial recruitment and retention.

In a previous interview with BioSpace, Jeffrey Zucker, senior vice president of decentralized clinical trial solutions and optimization at Worldwide Clinical Trials, called the draft guidance “a real game changer” and said he expects it will increase the number of DCTs.

The recommendations include guidance around the use of videoconferencing and other technologies, the delegation of certain trial-related activities to healthcare providers and the number of participants that can be enrolled in DCTs. This guidance builds on recommendations issued in March 2020.

Pediatric Drug Development Guidance

In May, the FDA issued two new guidance documents intended to improve the pediatric drug development landscape. Over the past 20 years, the regulator has been increasingly focused on a push to bring more drugs, biologics and vaccines for children to the U.S. market, spurred by legislation including the Best Pharmaceuticals for Children Act (BPCA) of 2002 and the Pediatric Research Equity Act (PREA), passed a year later. The two new guidance documents are meant to build on these laws.

Among other issues, the guidances address certain clinical, scientific and ethical considerations, the inclusion of children in adult clinical trials, and recommendations that drug companies submit their initial pediatric study plans (IPSPs) “earlier than is required,” especially if the patient population for their drug’s indication is made up primarily of children.

Currently, the FDA says, most drugs have not been tested in children, resulting in many physicians prescribing these drugs “off-label” for kids.

https://www.biospace.com/article/5-key-regulatory-guidance-documents-of-2023-/

Futures mixed as chip equipment, auto stocks decline; rate-pause hopes support sentiment

 Wall Street index futures were mixed on Friday as shares of Ford and General Motors as well as chip-equipment makers declined in premarket trading, while investors remained optimistic about a likely pause in U.S. interest-rate hikes.

Applied Materials, Lam Research and KLA Corp dropped over 2% each after Reuters reported Taiwan's TSMC, the world's top chipmaker, had asked vendors to delay delivery of high-end chipmaking equipment, weighing down Nasdaq futures.

Automakers Ford Motor and General Motors shed 2% each before the bell after the United Auto Workers union launched simultaneous strikes at three factories owned by the "Detroit Three", including Chrysler-owner Stellantis, marking the most ambitious U.S. industrial labor action in decades.

SoftBank's Arm Holdings gained 8.7% in premarket trading after a stellar Nasdaq debut on Thursday, rekindling hopes of a turnaround in the initial public offering (IPO) market.

"Move aside Nvidia, there's a new player in town and its name is Arm," said Russ Mould, investment director at AJ Bell.

"When a stock goes up 25% in a day, there will naturally be FOMO among investors – fear of missing out. That might explain why its shares look like they will jump again today."

Arm's successful premiere has prompted grocery-delivery company Instacart to raise its IPO target price, according to a report.

Investors are also focused on Neumora Therapeutics' debut later in the day after the SoftBank-backed firm raised $250 mln in its U.S. IPO.

Wall Street's main indexes gained on Thursday after hotter-than-expected economic data eased worries about a recession without raising fears of a U.S. interest rate hike next week.

Traders see a 97% chance of the Federal Reserve holding rates steady in its Sept. 20 policy meeting and a near 65% likelihood of a pause in November, according to the CME FedWatch Tool.

Investors will monitor August industrial production and the University of Michigan's preliminary reading of consumer sentiment due later in the day.

Thursday, September 14, 2023

The COVID Killing Fields

 The effort to whip up another COVID crisis misses no beats as the usual scolds peddle mask mandates and lockdowns like shameless hucksters selling cure-all elixirs. They can’t say it straight out quite yet, but they want to return to a dark time in our history. Apparently there hasn’t been enough death to satisfy them.

In our own admittedly modest effort to stand against the tyranny, we have recently urged Americans to resist mask mandates and lockdowns through civil disobedience, if necessary. We have no plans to back down from our position.

Our opposition is in part galvanized by our deep dedication to liberty. Using the police power of the state to force people to wear masks; to shut down businesses, restrict movement and limit private gatherings; and to require vaccinations is a gross violation of our God-given freedom.

We are also guided by basic human compassion. The lockdowns were deadly, and their effects continue to kill. Another round of them would be unconscionable.

Last week we noted that the heavy-handed pandemic policy prescriptions – lockdowns – cost millions of lives that otherwise would not have been lost. We cited a National Bureau of Economic Research report that clearly indicated the increase in non-COVID deaths over the first year of the pandemic that were caused by policies and fear-mongering that stopped people from seeing doctors, rushing to emergency rooms, undergoing regular health screenings, seeking treatment for known ailments, moderating their alcohol consumption, and in general taking care of themselves.

But that’s just but one data dive that shows just how barbarous the lockdowns were. Earlier this week, Edward Ring, co-founder and senior fellow with the California Policy Center, provided further evidence, using federal data, that the lockdowns were deadly errors made by panicked, abusive and power-mad public officials.

The increase in total deaths — deaths from all causes, not just COVID deaths — is up significantly. If the period between October 2019 and June 2023 had adhered to predictable mortality rates, 10.5 million Americans would have died. Instead, during that period, 12.4 (million) people died. This prolonged period of so-called excess deaths, 17 percent above normal, is only rivaled by the estimated 675,000 deaths from Spanish Flu in America in 1918-19 when the country had a much smaller population.

“Non-COVID deaths are still way higher than normal. Why?” — American Greatness, Sept. 6, 2023

To blame the virus for all those deaths would be to engage in a lie. While the “horrific” COVID “surges appear to be behind us,” Ring says, there seems to be “no end in sight” of excess deaths.

“Going into the summer of 2023, weekly deaths from all causes remained persistently higher than normal,” Ring continues. “For example, during the last week of June, which is the most recent week for which there is reasonably complete reporting, 55,000 Americans died. Based on historical patterns, only 51,000 Americans would have died. Excess deaths in the U.S. are still about 7% above normal.”

Despite these facts, we have a media and a ruling class, which perform dirty tricks as a team, cheerleading, as subtly as they are able, to force masks on us and close the country again. Politicians are eager to exercise their authoritarian urges. Unelected public health officials are nostalgic for another quarantine. Some haven’t kicked their addiction to the hysteria that let them take more power than they should ever have. The loudest of the alarmists want a permanent lockdown mindset to infect everyone else, just as it has infected them. The leftist media are, with little exception, neurotics who can’t live without drama.

The negligence of the worst among us has killed millions. What’s worse, they are incapable of ever admitting their culpability, which means they have become inured to the tragedies they have caused.

https://issuesinsights.com/2023/09/08/the-covid-killing-fields/