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Wednesday, January 24, 2024

Petros: 2 Upcoming FDA Review Meetings

 DA requests meeting to review the Company's technology component and discuss further development and requirements

Petros Pharmaceuticals, Inc. (NASDAQ:PTPI), a company focused on expanding consumer access to medication through over-the- counter (OTC) drug development programs, announces it has scheduled two meetings with the U.S. Food and Drug Administration (FDA) to review the Company's progress and path forward in developing STENDRA as the first PDE-5 inhibitor approved as an over-the-counter medication for erectile dysfunction. (Please see Important Safety Information below.)

The Company has scheduled a Type C meeting with the FDA on March 26, 2024, to review the Company's developing digital app for use under the FDA's Nonprescription Drug Product with an Additional Condition for Nonprescription Use (ACNU) proposed rule.[1] Primary topics of the meeting are expected to include how to continue the development of the app, protocols for upcoming studies, including the Summative Human Factors Study. In addition, the FDA has requested a listen-only meeting during the week of March 11th to review the app for improved productivity during the Type C meeting.

https://www.biospace.com/article/releases/petros-pharmaceuticals-announces-two-upcoming-fda-meetings-to-review-progress-and-path-forward-for-stendra-r-avanafil-rx-to-otc-switch/

Sight Sciences in $65 Million Senior Secured Credit Facility with Hercules

 Sight Sciences, Inc. (Nasdaq: SGHT) (“Sight Sciences”), an eyecare technology company focused on developing and commercializing innovative technology intended to transform care and improve patients’ lives, today announced the closing of an up to $65 million senior secured credit facility with Hercules Capital, Inc. (NYSE: HTGC) (“Hercules”), a leader in customized debt financing for companies in life sciences and technology-related markets. The transaction included the immediate draw of $35 million, the net proceeds of which the Company used to pay off the principal amount of the Company’s indebtedness to its previous secured lender.

  • $35 million funded at loan closing, with up to an additional $30 million potentially available (subject to certain conditions as described in the credit agreements)
  • 54-month maturity, with interest-only period of 30 months, which can be extended to 36 months subject to achievement of certain performance milestones

The credit facility is secured by substantially all of the Company’s assets. Additional details regarding the Company’s debt refinancing will be filed with the Securities and Exchange Commission on a Current Report on Form 8-K available at investors.sightsciences.com.

https://www.globenewswire.com/news-release/2024/01/23/2814505/0/en/Sight-Sciences-Announces-the-Closing-of-up-to-65-Million-Senior-Secured-Credit-Facility-with-Hercules-Capital.html

SciSparc in $20 Million Standby Equity Purchase Agreement

 SciSparc Ltd. (Nasdaq: SPRC) (“Company” or “SciSparc”), a specialty clinical-stage pharmaceutical company focusing on the development of therapies to treat disorders and rare diseases of the central nervous system, today announced that it has entered into a standby equity purchase agreement (the “SEPA”) with YA II PN, Ltd. (“YA”), a fund managed by Yorkville Advisors Global, LP. Under the terms of SEPA, YA is committed to purchase up to $20 million of the Company’s ordinary shares over the next thirty-six-month period, subject to a beneficial ownership cap of 4.99% of the share capital of the Company. The purchase price of the ordinary shares will be at a 3% discount of the weighted average price of the Company's ordinary shares during the three consecutive trading day period commencing on the trading day of the delivery of an advance notice by the Company.

The Company will have the right in its sole discretion to sell shares to YA from time to time upon the issuance of an advance notice, which has no right to require the Company to sell any shares, following the effectiveness of a registration statement with the Securities and Exchange Commission registering the ordinary shares issuable pursuant to the SEPA and other customary closing conditions.

The Company intends to use the proceeds from the potential offering of the ordinary shares pursuant to the SEPA for working capital and other general corporate purposes.

https://www.globenewswire.com/news-release/2024/01/24/2815181/0/en/SciSparc-Ltd-Announces-20-Million-Standby-Equity-Purchase-Agreement.html

'Evaxion to Develop Tailored Novel Cancer Vaccines'

 Evaxion Biotech A/S (NASDAQ: EVAX) ("Evaxion" or the "Company"), a clinical-stage TechBio company specializing in developing AI-Immunology™ powered vaccines, announces an expanded commitment to developing tailored cancer vaccines by targeting a novel category of AI-identified tumor antigens, named Endogenous Retroviruses (ERVs).

The new treatment opportunity may broaden the applicability of cancer vaccines. Through the new vaccine targets, ERVs, treating patients unresponsive to conventional cancer immunotherapy may become possible. With the elevated focus on this groundbreaking therapeutic concept, Evaxion has initiated preclinical activities with a goal of generating Proof-of-Concept data by the second half of 2024.

https://www.globenewswire.com/news-release/2024/01/24/2815320/0/en/Evaxion-to-Develop-Tailored-Novel-Cancer-Vaccines-Based-upon-a-New-Untapped-Source-of-AI-Discovered-Targets.html

Gilead's Tecartus gets revised safety demand amid FDA's push for CAR-T boxed warnings

 The FDA’s letter demanding a labeling change for Gilead Sciences’ Tecartus temporarily went missing on the agency’s website Tuesday. Turns out, the FDA didn’t drop the CD19 CAR-T from a classwide safety alert list.

Instead, the agency has adjusted the wording of a proposed boxed warning.

In a revised letter (PDF) dated Jan. 23, the FDA is still pressing Gilead’s cell therapy unit Kite Pharma to include new language about the risk of T-cell malignancies in the black-box warning section of Tecartus’ label. But unlike its proposed boxed warning for other commercial CAR-T therapies, the FDA’s updated letter for Tecartus no longer names Tecartus patients specifically as having experienced T-cell malignancies.

The FDA apparently took some time before uploading the new letter after taking down the original one, dated Jan. 19. The missing letter for Tecartus caused a brief period of confusion because the FDA says in all letters to the CAR-T manufacturers that it has determined that language about T-cell malignancies should be included in the labeling “for all BCMA- and CD19-directed genetically modified autologous T cell immunotherapies.”

With the adjustment, the FDA seems to be indicating that even though it still views secondary T-cell cancers as a classwide problem, Tecartus hasn’t itself seen such cases. The Gilead CD19 CAR-T drug is approved for the treatment of mantle cell lymphoma and B-cell precursor acute lymphoblastic leukemia.

The letter revision was somewhat embarrassing for the FDA, and it also speaks to the lack of transparency from the agency about the new safety signal.

Two months ago, the agency announced an investigation into what it considers “serious” risk of patients developing secondary T-cell malignancies following treatment with commercial CAR-T therapies. The agency started the probe based on reports from clinical trials and postmarketing databases.

Since that announcement in November, the agency has not disclosed the specific number of cases it has reviewed, which products they are associated with or their nature. Fierce Pharma and researchers have examined the FDA Adverse Event Reporting System (FAERS) for voluntarily reported cases, but it isn’t known what additional information the agency may have beyond the database.

Since November, the FDA hasn’t replied to multiple Fierce Pharma requests for more information about its safety probe, including whether T-cell malignancies have actually been observed in all CD19 and BCMA CAR-T products. It’s not clear if the original Tecartus letter was the only one that needs adjustments. 

Besides Tecartus, Gilead’s Yescarta, Bristol Myers Squibb’s Breyanzi and Abecma, Johnson & Johnson and Legend Biotech’s Carvykti and Novartis’ Kymriah all face FDA requests to add the safety warning to their labels.

https://www.fiercepharma.com/pharma/fda-tweaks-tecartus-secondary-cancer-labeling-change-demand-classwide-boxed-warning

Dems Vote For Haley In Desperate Attempt To Derail Trump

 by Steve Watson via Modernity.news,

Several videos out of New Hampshire show that Democrat voters desperately tried to game the Republican primary to derail Trump’s now inevitable capturing of the Republican nomination.

Cytokinetics cut to Neutral from Buy by UBS

Target to $92 from $61

https://finviz.com/quote.ashx?t=CYTK&ty=c&ta=1&p=d