Market Overview

The Daily Biotech Pulse: Altimmune Reports Positive Preclinical Data For Intranasal COVID-19 Vaccine, AbbVie Licenses Morphic's Drug, Viveve Clinical Readout

Share:
The Daily Biotech Pulse: Altimmune Reports Positive Preclinical Data For Intranasal COVID-19 Vaccine, AbbVie Licenses Morphic's Drug, Viveve Clinical Readout

Scaling The Peaks

(Biotech Stocks Hitting 52-week Highs Aug. 24)

  • Abbott Laboratories (NYSE: ABT)
  • Cancer Genetics Inc (NASDAQ: CGIX) (announced a deal to buy organoid start up company StemoniX)
  • Cardiff Oncology Inc (NASDAQ: CRDF)
  • Catabasis Pharmaceuticals Inc (NASDAQ: CATB)
  • Cerus Corporation (NASDAQ: CERS) (moved on FDA's emergency use authorization for plasma therapy as a potential COVID-19 treatment)
  • ESSA Pharma Inc (NASDAQ: EPIX)
  • Fortress Biotech (NASDAQ: FBIO)
  • Inozyme Pharma Inc (NASDAQ: INZY)
  • Kamada Ltd. (NASDAQ: KMD) (reacted to the news of EUA for plasma anti-COVID-19 therapy)
  • Keros Therapeutics Inc (NASDAQ: KROS)
  • Lantern Pharma Inc. (NASDAQ: LTRN)
  • Mirati Therapeutics Inc (NASDAQ: MRTX)
  • Pacific Biosciences of California Inc (NASDAQ: PACB)
  • Principia Biopharma Inc (NASDAQ: PRNB)
  • Protagonist Therapeutics Inc (NASDAQ: PTGX)
  • Qiagen NV (NYSE: QGEN)
  • Revance Therapeutics Inc (NASDAQ: RVNC)
  • Turning Point Therapeutics Inc (NASDAQ: TPTX) (FDA granted a third fast-track designation to its lead drug candidate, repotrectinib)

Down In The Dumps

(Biotech Stocks Hitting 52-week Lows Aug. 24)

  • Acorda Therapeutics Inc (NASDAQ: ACOR)
  • Alector Inc (NASDAQ: ALEC)
  • China SXT Pharmaceuticals Inc (NASDAQ: SXTC)
  • Gritstone Oncology Inc (NASDAQ: GRTS)
  • Happiness Biotech Group Ltd (NASDAQ: HAPP)
  • Histogen Inc (NASDAQ: HSTO)
  • Hoth Therapeutics Inc (NASDAQ: HOTH)
  • Iterum Therapeutics PLC (NASDAQ: ITRM)
  • Kymera Therapeutics Inc (NASDAQ: KYMR) (IPOed Friday)
  • NanoVibronix Inc (NASDAQ: NAOV)
  • Neurobo Pharmaceuticals Inc (NASDAQ: NRBO)
  • Polypid Ltd (NASDAQ: PYPD)
  • Poseida Therapeutics, Inc. (NASDAQ: PSTX)
  • Recro Pharma Inc (NASDAQ: REPH)
  • Teligent Inc (NEW JERSEY) (NASDAQ: TLGT)
  • Tricida Inc (NASDAQ: TCDA) (FDA rejected its drug to treat metabolic acidosis and requested additional data)
  • Unity Biotechnology Inc (NASDAQ: UBX)
  • Viveve Medical Inc (NASDAQ: VIVE)

Stocks In Focus

Qiagen Launches Rapid Antibody COVID-19 Test In US

Qiagen announced the U.S. launch of the new Access Anti-SARS-CoV-2 Total test, a digital test done on a portable device that provides results in about 10 minutes to detect antibodies in people exposed to the SARS-CoV-2 virus.

The launch follows the company submitting emergency use authorization application to the U.S. The company expects to begin first shipments in late 2020.

The stock was trading down slightly at $51.57 premarket Tuesday.

Kamada Collaborates With Italy's Kedrion On Plasma-Based COVID-19 Treatment 

Close on heels of EUA for plasma therapy, Israeli biopharma Kamada said it is continuing to collaborate with Kedrion Biopharma of Italy for the development, manufacturing and clinical distribution of a plasma-derived anti-SARS-CoV-2 product.

The two companies said they are confident of eventually obtaining approval on both sides of the Atlantic for the clinical treatment of severely ill COVID-19 patients.

Under the terms of the agreement, Kamada is responsible for product development, manufacturing, clinical development with Kedrion's support and regulatory submissions.

Kedrion is responsible for collection and supply of plasma from convalescent COVID-19 patients and future distribution of the therapeutic product in the U.S., Europe, Australia and South Korea.

Kamada shares were up 1.79% at $11.94 premarket Tuesday.

Ovid, Takeda Report Positive Midstage Results For Seizure Drug

Ovid Therapeutics Inc (NASDAQ: OVID) and Takeda Pharmaceutical Co Ltd (NYSE: TAK) announced positive topline results from the randomized Phase 2 ELEKTRA study of soticlestat in children with Dravet syndrome or Lennox-Gastaut syndrome.

Ovid shares were rising 33.12% to $8.48 in premarket trading Tuesday, and Takeda was advancing 0.57% to $19.30.

See also: The Week Ahead In Biotech (Aug. 24-29): Lipocine Binary Event, Liver Congress In The Spotlight

Altimmune Reports Positive Preclinical Data For Nasal COVID-19 Vaccine Candidate

Altimmune Inc (NASDAQ: ALT) reported additional results from the preclinical studies of its single-dose intranasal COVID-19 vaccine candidate, AdCOVID.

The results show potent stimulation of antigen-specific CD4+ and CD8+ T cells in the lungs of CD-1 mice as early as 10 days following a single intranasal vaccination, with responses strongly biased toward CD8+ T cells.

The studies were conducted as part of Altimmune's ongoing collaboration with the University of Alabama at Birmingham.

In premarket trading Tuesday, Altimmune shares were rising 9.91% to $24.17.

Viveve Medical Reports Positive Preliminary Efficacy Data In Stress Urinary Incontinence Study

Viveve announced positive primary efficacy data from its three-arm, five-month stress urinary incontinence feasibility study, which is comparing the company's cryogen-cooled monopolar radiofrequency treatment and a cryogen-only sham treatment to an inert sham treatment for mild-to-moderate SUI in women.

Additionally, the company announced positive outcomes from an in-vivo preclinical study that was conducted to validate its new inert sham tip for use in the upcoming pivotal PURSUIT Trial in the U.S.

In premarket trading Tuesday, Viveve shares were jumping 41.51% to 75 cents.

AbbVie Exercises Option To License Morphic's Fibrotic Diseases Drug Candidate

Morphic Holding Inc (NASDAQ: MORF) said AbbVie Inc (NYSE: ABBV) has exercised a license option under their R&D collaboration agreement to develop Morphic's αvβ6 integrin inhibitors for the treatment of fibrotic diseases including idiopathic pulmonary fibrosis and additional indications.

Morphic will receive a license fee of $20 million, with potential future development milestone payments and royalties from the sales of any commercialized candidates.

Organogenesis CFO Resign

Regenerative medicine company Organogenesis Holdings Inc (NASDAQ: ORGO) announced the resignation of CFO Timothy Cunningham, effective Aug. 18, and the appointment of Henry Hagopian, the company's treasurer and vice president of finance, to the role on interim basis.

Cunningham's resignation is not due to any dispute or disagreement with the company or any matter relating to its accounting practices or financial statements, Organogenesis said. 

Offerings

Medical device company NanoVibronix said it has entered into an underwriting agreement with H.C. Wainwright & Co., LLC under which the latter has agreed to purchase on a firm commitment basis 4.33 million of its shares at 75 cents per share, less underwriting discounts and commission. The offering is expected to close Aug. 27.

The stock was sliding 22.93% to 67 cents in premarket trading Tuesday.

On The Radar

Earnings

Medtronic PLC (NYSE: MDT)

Related Link: Attention Biotech Investors: Mark Your Calendar For August PDUFA Dates

 

Related Articles (IBB)

View Comments and Join the Discussion!

Posted-In: Biotech Earnings News Penny Stocks Health Care Offerings FDA Trading Ideas Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com