Crispr Therapeutics price target raised to $93 from $75 at Stifel » 14:4010/2110/21/20
CRSP, ALLO, DTIL
Stifel analyst Benjamin…
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IGM Biosciences called 'next big bigtech collapse' by short-seller » 10:1210/2110/21/20
In a short research…
In a short research report published by unnamed authors and circulated among traders, IGM Biosciences is called "the next big biotech collapse story." The short-sellers contend that IGM "is about to face its first very real and very binary test at ASH2020 after 27 years of existence and no real peer reviewed preclinical data." In morning trading, IGM shares are down $3.09, or 4.5%, to $65.15. Reference Link
Mirati Therapeutics price target raised to $176 from $101 at BMO Capital » 08:5410/2110/21/20
BMO Capital analyst…
Gilead announces 48-week data from BRAAVE 2020 study of Biktarvy » 07:0910/2110/21/20
Gilead announced 48-week…
ProteoNic licenses 2G UNic technology to Immunomedics » 05:5310/2010/20/20
ProteoNic BV, a provider…
ProteoNic BV, a provider of technology and services in the field of production of biologics, announced it has licensed its 2G UNic technology for boosting therapeutic protein production to Immunomedics. Under the agreement, Immunomedics gains commercial rights for application of ProteoNic's technology platform to the development of specified proprietary products from mammalian cells. Financial details of the agreement were not disclosed. ProteoNic's protein expression technology improves production levels across a range of host cells, selection systems and protein targets. It increases transcription and translation rates via a combination of novel genetic elements, which together exert an effect on recombinant protein production levels without impacting product quality or cell line stability attributes. 2G UNic can be readily combined with other protein expression-enhancing technologies to improve their performance.
Greater China partnership 'very favorable' for ImmunoGen, says Piper Sandler » 11:1110/1910/19/20
Piper Sandler analyst…
Piper Sandler analyst Joseph Catanzaro notes that ImmunoGen has announced a Greater China collaboration for mirvetuximab with Huadong Medicine. The company will receive a $40M upfront payment and is eligible for up to $265M in future milestones, as well as royalties on future sales in the respective territories, he adds. Overall, the analyst thinks this is a "very favorable deal" for ImmunoGen that together with recent ATM proceeds brings in some nice additional runway through topline SORAYA data and the BLA filing in the second half of 2021. Given the de-risked nature of mirvetuximab, he believes there's additional opportunity for further business development ahead of its potential approval and/or confirmatory MIRASOL data, but continues to think that the initial opportunity for mirvetuximab in lateline FRa+ platinum-resistant ovarian cancer is fully reflected in the current valuation. Catanzaro has a Neutral rating on the shares.
ImmunoGen and Huadong Medicine announce pact to for mirvetuximab soravtansine » 08:4910/1910/19/20
ImmunoGen and Hangzhou…
ImmunoGen and Hangzhou Zhongmei Huadong Pharmaceutical announced that the companies have entered into an exclusive collaboration to develop and commercialize mirvetuximab soravtansine in mainland China, Hong Kong, Macau, and Taiwan. ImmunoGen will retain all rights to mirvetuximab in the rest of the world. This collaboration provides ImmunoGen with access to the second largest pharmaceutical market in the world via Huadong Medicine's development, regulatory, and commercial capabilities, while supporting Huadong Medicine's growth strategy to build a deep portfolio of oncology, endocrinology, and autoimmunology candidates. Mirvetuximab adds a compelling late-stage oncology asset to Huadong Medicine's portfolio. "With extensive regional experience, the right development and regulatory capabilities, and access to a deep local network of hospitals and clinics across Greater China, Huadong Medicine is an ideal partner for us," said Mark Enyedy, ImmunoGen's President and Chief Executive Officer. "This collaboration reflects mirvetuximab's potential to deliver meaningful value to ovarian cancer patients as well as our ability to translate our work in ADCs into long-term relationships that create sustainable value for ImmunoGen and our partners. We look forward to working closely with Huadong Medicine to develop and commercialize mirvetuximab in Greater China as we advance the mirvetuximab program and prepare for the first potential commercial launch in the United States in 2022." "ImmunoGen is a leader in the development of ADCs for the treatment of cancer and this partnership provides us with a late-stage asset that will enable us to further expand our pipeline of innovative oncology programs," said Liang Lu, Chairman of Huadong Medicine. "The compelling clinical data generated to date highlights mirvetuximab's potential to be a promising therapy for an extremely difficult to treat disease and we look forward to beginning its development as we seek to meet the growing needs of ovarian cancer patients in Greater China."
Gilead to present data from Discover trial evaluating Descovy at IDWeek 2020 » 08:3710/1910/19/20
At IDWeek 2020, Gilead…
At IDWeek 2020, Gilead will present results from the ongoing DISCOVER multi-center randomized clinical trial, evaluating the safety and efficacy of Descovy, emtricitabine 200 mg/tenofovir alafenamide 25 mg, for PrEP and a new analysis leveraging a novel statistical method to estimate the background HIV incidence rate in DISCOVER. Separate data from DISCOVER will provide insight into the impact of age and comorbidities on renal outcomes for study participants. In addition to new data from the DISCOVER trial, the key findings from an analysis examining real-world patterns of persistence with Truvada for PrEP in at-risk populations will be presented in an oral presentation. Gilead also will present new data on the efficacy and safety of Biktarvyn certain populations of people living with HIV that have historically been underrepresented in HIV clinical research. The latest data from Gilead's HIV treatment research program to be presented include an oral presentation on 48-week outcomes from the landmark community-based and designed BRAAVE study evaluating the safety and efficacy of switching to Biktarvy among Black American adults living with HIV who are virally suppressed. Findings on the efficacy of Biktarvy in people living with HIV who are virologically suppressed with end-stage renal disease and requiring chronic hemodialysis will also be presented. Data on Gilead's investigational antiviral Veklury, remdesivir, for injection administered by intravenous infusion for the treatment of COVID-19 include two oral presentations examining the safety and efficacy of Veklury in hospitalized patients with moderate COVID-19 and global geographical disparities in clinical outcomes of hospitalized patients with severe COVID-19 treated with Veklury in Gilead's open-label, Phase 3 SIMPLE
Aptose Biosciences initiated with an Overweight at Cantor Fitzgerald » 07:0910/1910/19/20
Cantor Fitzgerald analyst…
Cantor Fitzgerald analyst Alethia Young initiated coverage of Aptose Biosciences with an Overweight rating and $10 price target. Over the next 12 months, meaningful potential proof of concept data readouts could begin to show the pathway for Phase 2 and beyond, Young says, adding that efficacy for CG-806 could be more robust than current players and safety could also be more benign. The analyst views APTO-253 as upside to her current valuation based on historical difficulty in targeting MYC, but is encouraged by Aptose's novel approach to target MYC-expression.
Aptose Biosciences initiates dosing of CG-806 in patients with AML » 07:0910/1910/19/20
Aptose Biosciences announced dosing of the first patient with acute myeloid leukemia in a Phase 1 a/b clinical study with CG-806, the company's oral kinase inhibitor that potently inhibits the wildtype and mutant forms of FLT3 and BTK, and suppresses select clusters of kinases that drive oncogenic signaling pathways. The investigational drug is the only known clinical agent that potently inhibits both FLT3 and BTK, giving it broad therapeutic potential across the spectrum of lymphoid and myeloid hematologic malignancies. Several clinical sites are screening patients for the Phase 1 a/b multicenter, open-label, dose escalation study of safety, pharmacodynamics, and pharmacokinetics of CG-806 in ascending cohorts to determine the maximum tolerated dose or recommended dose in patients with relapsed or refractory AML. Separate from the AML trial, Aptose is conducting a Phase 1 a/b dose escalation study with CG-806 in patients with B-cell malignancies, including chronic lymphocytic leukemia and non-Hodgkin's lymphomas, who have failed or are intolerant to current therapies.