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Why Can-Fite, Moderna, AC Immune Shares Are Rallying

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Why Can-Fite, Moderna, AC Immune Shares Are Rallying

Moderna Inc. (NASDAQ: MRNA), AC Immune SA (NASDAQ: ACIU) and Can-Fite BioPharma Ltd. (NYSE: CANF) were among the early biotech movers Tuesday.

Moderna Starts Pediatric COVID-19 Vaccine Study: Close on THE heels of announcing the start of a Phase 1 trial of its refrigerator-stable next-gen COVID-19 vaccine, Moderna said it has dosed the first patient in the Phase 2/3 study of mRNA-1273, its vaccine candidate that has been approved for emergency use against SARS-CoV-2.

The study, dubbed the KidCOVE study and funded by the NIAID and BARDA, will enroll children, ages 6 months to less than 12 years.

It is designed as a two-part, dose- and age-escalation study to evaluate safety, tolerability, reactogenicity and effectiveness of the vaccine.

The company expects to enroll 6,750 pediatric participants in the U.S. and Canada.

Related Link: The Week Ahead In Biotech (March 14-20): Update On Fibrogen-AstraZeneca's Anemia Drug, Earnings and Presentations

AC Immune To Advance Down Syndrome Vaccine To Midstage Study: Swiss biopharma AC Immune said it plans to advance its anti-amyloid beta vaccine candidate ACI-24 into a Phase 2 study that will evaluate the candidate to treat and prevent the progression of Down syndrome-related Alzheimer's disease.

The company also announced at a global Down syndrome symposium, top-line results from the Phase 1b study, showing ACI-24 demonstrated encouraging immunogenicity and safety n people with Down syndrome.

It also announced new animal testing data for an optimized formulation of the vaccine, which shows broad potential for the treatment and prevention of Abeta-driven diseases.

Can-Fite Out-Licenses Psoriasis, NASH Drug Candidates: Can-Fite said it has signed an exclusive distribution agreement with Switzerland-based Ewopharma for its lead drug piclidenoson in the treatment of psoriasis and namodenoson in the treatment of liver diseases, namely hepatocellular carcinoma and nonalcoholic steatohepatitis.

Can-Fite stands to receive $2.5 million in upfront payments and up to an additional $40.45 million in regulatory and sales milestones, while also receiving 17.5% royalties on net sales.

In return, Ewopharma gets the rights to market piclidenoson in Central Eastern European countries and namodenoson in CEE countries and Switzerland. It also has acquired the right to extend the distribution agreement to new indications that Can-Fite may identify for its drug candidates.

MRNA, ACIU, CANF Price Action: Moderna shares were advancing 6.05% to $152.36.

AC Immune was down 2.17% at $7.90. 

Can-Fite shares were skyrocketing 58.31% to $3.19.

Related Link: The Daily Biotech Pulse: Fulgent Nabs CDC Contract, Enzo Rallies, Solid Biosciences Releases Gene Therapy Data, Moderna Begins Pediatric Vaccine Study

 

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