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The Daily Biotech Pulse: ASCO Presentations Begin, Altimmune Pops On Insider Buying, Immutep Gets R&D Grant

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The Daily Biotech Pulse: ASCO Presentations Begin, Altimmune Pops On Insider Buying, Immutep Gets R&D Grant

Here's a roundup of top developments in the biotech space over the last 24 hours.

Scaling The Peaks

(Biotech Stocks Hitting 52-week Highs May 28)

  • ADC Therapeutics SA (NYSE: ADCT) (IPOed May 15)
  • Aerpio Pharmaceuticals Inc (NASDAQ: ARPO)( announced a collaboration study for razuprotafib in COVID-19 treatment)
  • Aileron Therapeutics Inc (NASDAQ: ALRN)
  • Arca Biopharma Inc (NASDAQ: ABIO) ( reacted to its planned foray into COVID-19 treatment)
  • argenx SE – ADR (NASDAQ: ARGX)
  • Bio-Rad Laboratories, Inc. (NYSE: BIO)
  • BioSpecifics Technologies Corp. (NASDAQ: BSTC)
  • ChemoCentryx Inc (NASDAQ: CCXI)
  • GENMAB A/S/S ADR (NASDAQ: GMAB)(announced positive topline Phase 3 data for daratumumab in light-chain amyloidosis)
  • Imara Inc NASDAQ: (IMRA)
  • Liquidia Technologies Inc (NASDAQ: LQDA)
  • Mersana Therapeutics Inc (NASDAQ: MRSN)
  • Protagonist Therapeutics Inc (NASDAQ: PTGX)
  • Qiagen NV (NYSE: QGEN)
  • Tenax Therapeutics Inc (NASDAQ: TENX)
  • Turning Point Therapeutics Inc (NASDAQ: TPTX)
  • Vermillion, Inc. (NASDAQ: VRML)

Down In The Dumps

(Biotech Stocks Hitting 52-week Lows May 28)

  • Zafgen Inc (NASDAQ: ZFGN)

Stocks In Focus

Karyopharm to Present Positive Selinexor Data In Multiple Myeloma Patients At ASCO

Karyopharm Therapeutics Inc (NASDAQ: KPTI) announced detailed results from the pivotal Phase 3 BOSTON study that evaluated once-weekly selinexor in combination with once-weekly Velcade and low-dose dexamethasone, or SVd, compared to the standard twice-weekly Velcade plus low-dose dexamethasone, or Vd, in second-line to fourth-line setting in multiple myeloma patients. The data is to be presented at the ASCO 2020 Virtual Scientific Program.

The SVd arm, according to the company, showed a statistically significant increase of 47% in median progression-free survival compared to the Vd arm. The overall response rate was 76.4% for the SVd arm compared to 62.3% for the Vd arm.

The stock rose 7.71% to $20.25 in after-hours trading.

Eisai, Merck Announce ASCO Presentations

Eisai Co., Ltd (OTC: ESALY) and Merck & Co., Inc. (NYSE: MRK) said results from two trials evaluating the former's Lenvima, plus the latter's anti-PD-1 therapy Keytruda in patients with unresectable hepatocellular carcinoma, or HCC, with no prior systemic therapy and patients with metastatic clear cell renal cell carcinoma, or ccRCC, who progressed following immune checkpoint inhibitor therapy, respectively, showed tumor response.

The data is to be presented at the ASCO Virtual Scientific Program.

Separately, Merck said a Phase 3 trial, dubbed KEYNOTE-177, evaluating Keytruda for the first-line treatment of patients with microsatellite instability-high, or MSI-H, or mismatch repair deficient, or dMMR, unresectable or metastatic colorectal cancer showed Keytruda significantly reduced the risk of disease progression or death by 40%, with a median progression-free survival of 16.5 months compared with 8.2 months for patients treated with chemotherapy, a current standard of care.

Merck said the data is scheduled to be presented Sunday in the ASCO meeting.

Altimmune Shares Rally On Insider Buying

Altimmune Inc (NASDAQ: ALT) shares were rallying after Venrock Healthcare Capital Partners III filed with the SEC in Form 4 a series of purchases made over this week that has taken its holdings to 3 million shares. A total of 1.304 million shares were accumulated over the week.

Immutep Gets $2.41M In R&D Tax Incentive From French Government

IMMUTEP LTD/S ADR (NASDAQ: IMMP) said it has received a 2.174-million euro or $2.41 million, R&D tax incentive payment in cash from the French government. The tax credit is a French government tax incentive by which French companies conducting research and development activities in Europe can be reimbursed 30% of their eligible expenditure.

The funds will be used to support the ongoing and planned global clinical development of eftilagimod alpha and the preclinical development of IMP761, the company said.

In after-hours trading, the stock added 2.40% to $1.28.

Roche's Cancer Drug Gets Positive European Medicines Agency Committee Recommendation

Roche Holdings AG (OTC: RHHBY) said the European Medicines Agency's Committee for Medicinal Products for Human Use has adopted a positive opinion under conditional marketing authorization for Rozlytrek for the treatment of adult and pediatric patients 12 years of age and older with solid tumors expressing a neurotrophic tyrosine receptor kinase gene fusion. The CHMP has also recommended Rozlytrek for the treatment of adults with ROS1-positive, advanced non-small cell lung cancer not previously treated with ROS1 inhibitors.

Offerings

Marinus Pharmaceuticals Inc (NASDAQ: MRNS) priced its underwritten public offering of 16 million shares at $2.50 per share, for generating gross proceeds of about $40 million. The company expects the offering to close on or about June 2.

The stock slid 8.21% to $2.57 in after-hours trading.

On The Radar

Several companies are scheduled to present data on their pipeline assets in the ASCO 2020 Annual Meeting Virtual Scientific Program. Some of the companies presenting Friday include:

Arvinas Inc (NASDAQ: ARVN)
Trillium Therapeutics Inc (NASDAQ: TRIL)
Cardiff Oncology Inc (NASDAQ: CRDF)
Iovance Biotherapeutics Inc (NASDAQ: IOVA)
Blueprint Medicines Corp (NASDAQ: BPMC)
Allogene Therapeutics Inc (NASDAQ: ALLO)
Deciphera Pharmaceuticals Inc (NASDAQ: DCPH)
GENMAB A/S/S ADR (NASDAQ: GMAB)
AVEO Pharmaceuticals, Inc. (NASDAQ: AVEO)
Amgen, Inc. (NASDAQ: AMGN)
Clovis Oncology Inc (NASDAQ: CLVS)
IMMUTEP LTD/S ADR (NASDAQ: IMMP)
Heat Biologics Inc (NASDAQ: HTBX)
Autolus Therapeutics Ltd – ADR (NASDAQ: AUTL)
Oncolytics Biotech, Inc. (NASDAQ: ONCY)
Athenex Inc (NASDAQ: ATNX)
Harpoon Therapeutics Inc (NASDAQ: HARP)
Gossamer Bio Inc (NASDAQ: GOSS)
ImmunoGen, Inc (NASDAQ: IMGN)
Merus NV (NASDAQ: MRUS)
CytomX Therapeutics Inc (NASDAQ: CTMX)
Corvus Pharmaceuticals Inc (NASDAQ: CRVS)
Pfizer Inc. (NYSE: PFE)
CELYAD SA/ADR (NASDAQ: CYAD)
Immunomedics, Inc. (NASDAQ: IMMU)
Xencor Inc (NASDAQ: XNCR)
MacroGenics Inc (NASDAQ: MGNX)
DelMar Pharmaceuticals Inc (NASDAQ: DMPI)
Salarius Pharmaceuticals Inc (NASDAQ: SLRX)
AstraZeneca plc (NYSE: AZN)
Genocea Biosciences Inc (NASDAQ: GNCA)
NextCure Inc (NASDAQ: NXTC)
Spring Bank Pharmaceuticals Inc (NASDAQ: SBPH)
Adaptimmune Therapeutics PLC (NASDAQ: ADAP)
ZIOPHARM Oncology Inc. (NASDAQ: ZIOP)
Agios Pharmaceuticals Inc (NASDAQ: AGIO)
Oncternal Therapeutics Inc (NASDAQ: ONCT)
• Roche
Aptose Biosciences Inc (NASDAQ: APTO)
Kura Oncology Inc (NASDAQ: KURA)
Innate Pharma SA (NASDAQ: IPHA)
Imv Inc (NASDAQ: IMV):
MEI Pharma Inc (NASDAQ: MEIP)
TapImmune Inc. common stock (NASDAQ: MRKR)
Inovio Pharmaceuticals Inc (NASDAQ: INO)

 

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