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The Daily Biotech Pulse: Pfizer, Bristol-Myers Squibb Earnings, Amgen Goes Shopping, GlaxoSmithKline-Vir's COVID-19 Antibody Treatment Supply Deal

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The Daily Biotech Pulse: Pfizer, Bristol-Myers Squibb Earnings, Amgen Goes Shopping, GlaxoSmithKline-Vir's COVID-19 Antibody Treatment Supply Deal

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 July 27)

  • Bio-Rad Laboratories, Inc. (NYSE: BIO) (announced a settlement agreement with 10x Genomics, Inc. (Nasdaq: TXG))
  • Boston Scientific Corporation (NYSE: BSX) (reacted to its second-quarter results)
  • Edwards Lifesciences Corporation (NYSE: EW)
  • Globus Medical, Inc. (NYSE: GMED)
  • IDEAYA Biosciences, Inc. (NASDAQ: IDYA)
  • ResMed Inc. (NYSE: RMD)
  • Translate Bio, Inc. (NASDAQ: TBIO)

Down In The Dumps

(Biotech Stocks Hitting 52-week Lows July 27)

  • 23andMe Holding Co. (NASDAQ: ME)
  • 89bio, Inc. (NASDAQ: ETNB)
  • AbCellera Biologics Inc. (NASDAQ: ABCL)
  • Achilles Therapeutics plc (NASDAQ: ACHL)
  • Acumen Pharmaceuticals, Inc. (NASDAQ: ABOS)
  • Acurx Pharmaceuticals, Inc. (NASDAQ: ACXP)
  • Adaptimmune Therapeutics plc (NASDAQ: ADAP)
  • Adicet Bio, Inc. (NASDAQ: ACET)
  • Aerovate Therapeutics, Inc. (NASDAQ: AVTE)
  • Agile Therapeutics, Inc. (NASDAQ: AGRX)
  • Akero Therapeutics, Inc. (NASDAQ: AKRO)
  • Akouos, Inc. (NASDAQ: AKUS)
  • Allena Pharmaceuticals, Inc. (NASDAQ: ALNA)
  • Allogene Therapeutics, Inc. (NASDAQ: ALLO)
  • Alzamend Neuro, Inc. (NASDAQ: ALZN)
  • Aptose Biosciences Inc. (NASDAQ: APTO)
  • Aravive, Inc. (NASDAQ: ARAV)
  • Aridis Pharmaceuticals, Inc. (NASDAQ: ARDS)
  • Ascendis Pharma A/S (NASDAQ: ASND)
  • Assertio Holdings, Inc. (NASDAQ: ASRT)
  • Atai Life Sciences N.V. (NASDAQ: ATAI)
  • Athenex, Inc. (NASDAQ: ATNX)
  • Avenue Therapeutics, Inc. (NASDAQ: ATXI)
  • Avidity Biosciences, Inc. (NASDAQ: RNA)
  • AVROBIO, Inc. (NASDAQ: AVRO)
  • Aytu Biopharma, Inc. (NASDAQ: AYTU)
  • Biodesix, Inc. (NASDAQ: BDSX)
  • Biomea Fusion, Inc. (NASDAQ: BMEA)
  • BioXcel Therapeutics, Inc. (NASDAQ: BTAI)
  • Bolt Biotherapeutics, Inc. (NASDAQ: BOLT)
  • Burning Rock Biotech Limited (NASDAQ: BNR)
  • Cara Therapeutics, Inc. (NASDAQ: CARA)
  • Caribou Biosciences, Inc. (NASDAQ: CRBU)
  • CASI Pharmaceuticals, Inc. (NASDAQ: CASI)
  • Cellectis S.A. (NASDAQ: CLLS)
  • Cogent Biosciences, Inc. (NASDAQ: COGT)
  • Coherus BioSciences, Inc. (NASDAQ: CHRS)
  • Concert Pharmaceuticals, Inc. (NASDAQ: CNCE)
  • Corvus Pharmaceuticals, Inc. (NASDAQ: CRVS)
  • Cullinan Oncology, Inc. (NASDAQ: CGEM)
  • CytomX Therapeutics, Inc. (NASDAQ: CTMX)
  • Deciphera Pharmaceuticals, Inc. (NASDAQ: DCPH)
  • Design Therapeutics, Inc. (NASDAQ: DSGN)
  • DiaMedica Therapeutics Inc. (NASDAQ: DMAC)
  • Elevation Oncology, Inc. (NASDAQ: ELEV)
  • Epizyme, Inc. (NASDAQ: EPZM)
  • Esperion Therapeutics, Inc. (NASDAQ: ESPR)
  • Exelixis, Inc. (NASDAQ: EXEL)
  • Exicure, Inc. (NASDAQ: XCUR)
  • FibroGen, Inc. (NASDAQ: FGEN)
  • Flexion Therapeutics, Inc. (NASDAQ: FLXN)
  • Freeline Therapeutics Holdings plc (NASDAQ: FRLN)
  • Fulcrum Therapeutics, Inc. (NASDAQ: FULC)
  • Gain Therapeutics, Inc. (NASDAQ: GANX)
  • Gemini Therapeutics, Inc. (NASDAQ: GMTX)
  • Global Blood Therapeutics, Inc. (NASDAQ: GBT)
  • Harmony Biosciences Holdings, Inc. (NASDAQ: HRMY)
  • Harpoon Therapeutics, Inc. (NASDAQ: HARP)
  • Heron Therapeutics, Inc. (NASDAQ: HRTX)
  • Immunic, Inc. (NASDAQ: IMUX)
  • Inhibikase Therapeutics, Inc. (NASDAQ: IKT)
  • Insmed Incorporated (NASDAQ: INSM)
  • InspireMD, Inc. (NASDAQ: NSPR)
  • Kala Pharmaceuticals, Inc. (NASDAQ: KALA)
  • Kamada Ltd. (NASDAQ: KMDA)
  • Kiromic BioPharma, Inc. (NASDAQ: KRBP) ( announced acquisition of bioinformatics and AI firm InSilico Solutions)
  • Liminal BioSciences Inc. (NASDAQ: LMNL)
  • Lumos Pharma, Inc. (NASDAQ: LUMO)
  • Lyell Immunopharma, Inc. (NASDAQ: LYEL)
  • Lyra Therapeutics, Inc. (NASDAQ: LYRA)
  • Madrigal Pharmaceuticals, Inc. (NASDAQ: MDGL)
  • Mersana Therapeutics, Inc. (NASDAQ: MRSN)
  • Metacrine, Inc. (NASDAQ: MTCR)
  • Minerva Neurosciences, Inc. (NASDAQ: NERV)
  • Mirum Pharmaceuticals, Inc. (NASDAQ: MIRM) (announced an out-licensing deal)
  • Moleculin Biotech, Inc. (NASDAQ: MBRX)
  • MorphoSys AG (NASDAQ: MOR)
  • Nautilus Biotechnology, Inc. (NASDAQ: NAUT)
  • Neoleukin Therapeutics, Inc. (NASDAQ: NLTX)
  • NeuBase Therapeutics, Inc. (NASDAQ: NBSE)
  • NextCure, Inc. (NASDAQ: NXTC)
  • NexImmune, Inc. (NASDAQ: NEXI)
  • NuCana plc (NASDAQ: NCNA)
  • Nymox Pharmaceutical Corporation (NASDAQ: NYMX)
  • OncoSec Medical Incorporated (NASDAQ ONCS)
  • Orchard Therapeutics plc (NASDAQ: ORTX)
  • OptiNose, Inc. (NASDAQ: OPTN)
  • ORIC Pharmaceuticals, Inc. (NASDAQ: ORIC)
  • Orphazyme A/S (NASDAQ: ORPH)
  • Pluristem Therapeutics Inc. (NASDAQ: PSTI)
  • Plus Therapeutics, Inc. (NASDAQ: PSTV)
  • PolyPid Ltd. (NASDAQ: PYPD)
  • Praxis Precision Medicines, Inc. (NASDAQ: PRAX)
  • Protara Therapeutics, Inc. (NASDAQ: TARA)
  • Relmada Therapeutics, Inc. (NASDAQ: RLMD)
  • Reviva Pharmaceuticals Holdings, Inc. (NASDAQ: RVPH)
  • Rockwell Medical, Inc. (NASDAQ: RMTI)
  • Sage Therapeutics, Inc. (NASDAQ: SAGE)
  • Sarepta Therapeutics, Inc. (NASDAQ: SRPT)
  • Scopus BioPharma Inc. (NASDAQ: SCPS)
  • Sera Prognostics, Inc. (NASDAQ: SERA) (IPOed Thursday)
  • Sigilon Therapeutics, Inc. (NASDAQ: SGTX)
  • Singular Genomics Systems, Inc. (NASDAQ: OMIC)
  • Soleno Therapeutics, Inc. (NASDAQ: SLNO)
  • Syros Pharmaceuticals, Inc. (NASDAQ: SYRS)
  • Taysha Gene Therapies, Inc. (NASDAQ: TSHA)
  • TCR2 Therapeutics Inc. (NASDAQ: TCRR)
  • Terns Pharmaceuticals, Inc. (NASDAQ: TERN)
  • Trevena, Inc. (NASDAQ: TRVN)
  • TScan Therapeutics, Inc. (NASDAQ: TCRX) (IPOed July 16)
  • Universe Pharmaceuticals INC (NASDAQ: UPC)
  • VectivBio Holding AG (NASDAQ: VECT)
  • Vivos Therapeutics, Inc. (NASDAQ: VVOS)
  • Vor Biopharma Inc. (NASDAQ: VOR)
  • Voyager Therapeutics, Inc. (NASDAQ: VYGR)
  • X4 Pharmaceuticals, Inc. (NASDAQ: XFOR)
  • Yumanity Therapeutics, Inc. (NASDAQ: YMTX)

Stocks In Focus

Arena to Collaborate With Aristea For Development of Drugs For Immune-mediated Diseases

Arena Pharmaceuticals, Inc. (NASDAQ: ARNA) and Aristea Therapeutics announced a strategic collaboration to advance the clinical development of RIST4721, an oral CXCR2 antagonist being developed by Aristea for the treatment of palmoplantar pustulosis and other neutrophil-mediated diseases.

Under the terms of the agreement, Arena will provide a $60 million upfront payment to Aristea and a $10 million equity investment in Aristea's Series B financing. In return, Aristea has granted Arena an exclusive option to acquire Aristea, including rights to all CXCR2 programs, upon completion of the Phase 2b study of RIST4721 in PPP.

The agreement also provides a framework during the option period for the companies to jointly explore the development of additional neutrophil-mediated diseases, including hidradenitis suppurativa and inflammatory bowel disease, potentially generating multiple data readouts during the option period.

Amgen to Buy Teneobio For Up to $2.5B

Amgen (NASDAQ: AMGN) announced an agreement to acquire Teneobio a privately held, clinical stage biotechnology company developing a new class of biologics called Human Heavy-Chain Antibodies. Under the terms of the agreement, Amgen will acquire all outstanding shares of Teneobio at closing in exchange for a $900 million upfront cash payment, as well as future contingent milestone payments to Teneobio equity holders potentially worth up to an additional $1.6 billion in cash.

The acquisition will also add TNB-585, a Phase 1 bispecific T cell-engager for the treatment of metastatic castrate-resistant prostate cancer, and several preclinical oncology pipeline assets with the potential for near-term IND filings.

MediWound Announces Positive Phase 2 Study Results For EscharEx In The Treatment of Venous Leg Ulcers

MediWound Ltd. (NASDAQ: MDWD) announced positive outcome from a planned interim sample size re-estimation of its ongoing EscharEx U.S. phase 2 adaptive design study for the treatment of venous leg ulcers, designed to assess the safety and efficacy of EscharEx compared to gel vehicle and non-surgical standard-of-care (either enzymatic or autolytic debridement).

The stock was up 7.32% at $4.40 in premarket trading.

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

MindMed Commences Phase 1 Study Of Naturally-occurring Psychedelic Substance DMT

MindMed (NASDAQ: MNMD) announced the start of a Phase 1 clinical trial to assess the safety, pharmacokinetics and pharmacodynamics of DMT, a naturally occurring psychedelic substance and an active ingredient in ayahuasca. The outcome of this Phase 1 clinical trial is expected to facilitate potential future Phase 2 clinical trials of DMT in patients.

The Phase 1 clinical trial has received all necessary regulatory approvals in Switzerland and subject enrollment has been initiated.

In premarket trading, the stock was up 1.31% at $3.09.

GlaxoSmithKline, Vir Ink Deal to Supply COVID-19 Antibody Treatment to European Commission

GlaxoSmithKline plc (NYSE: GSK and Vir Biotechnology, Inc. (NASDAQ: VIR) announced the signing of a joint procurement agreement with the European Commission to supply up to 220,000 doses of sotrovimab, an investigational single dose SARS-CoV-2 monoclonal antibody for the treatment of adults and adolescents with COVID-19 who do not require oxygen supplementation and who are at risk of progressing to severe COVID-19.

This action follows positive scientific opinion issued by the European Medicines Agency's Committee for Medicinal Products for Human Use.

On The Radar

Clinical Readouts

Alzheimer's Association International Conference Presentations

Annovis Bio, Inc. (NYSE: ANVS): new Phase 2a data for its lead product candidate, ANVS401 in Alzheimer's and Parkinson's diseases

Earnings

Bristol-Myers Squibb Company (NYSE: BMY) (Q2 revenues at $11.7 billion, up 16%; non-GAAP EPS $1.93 vs. consensus of $1.91; reaffirmed FY21 non-GAAP EPS guidance)
Pfizer, Inc. (NYSE: PFE) (Q2 revenues $19 billion, up 86%; non-GAAP EPS at $1.07 vs consensus estimate of 96 cent; raises FY21 guidance)
Teva Pharmaceutical Industries Limited (NYSE: TEVA) (before the market open)
Integra LifeSciences Holdings Corporation (NASDAQ: IART) (before the market open)
Lantheus Holdings, Inc. (NASDAQ: LNTH) (before the market open)
Myovant Sciences Ltd. (NYSE: MYOV) (before the market open)
Teva Pharmaceutical Industries Limited (TEVA) (before the market open)
Alkermes, Inc. (NASDAQ: ALKS) (before the market open)
Viking Therapeutics, Inc. (NASDAQ: VKTX) (after the close)
BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) (after the close)
Exact Sciences Corporation (NASDAQ: EXAS) (after the close)
PPD, Inc. (NASDAQ: PPD) (after the close)
Lantern Pharma Inc. (NASDAQ: LTRN) (after the close)
Hologic, Inc. (NASDAQ: HOLX) (after the close)
Vanda Pharmaceuticals Inc. (NASDAQ: VNDA) (after the close)

 

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