BPC October 17 update

Biotech earnings next week; Events slated for October; Biotech Week in Review

Weekly watchlist

Third quarter earnings season gets well underway this coming week after a smattering of calls this latest week. Notable earnings dates of predominantly large cap companies are noted below, together with regulatory dates and data presentations slated for the rest of this month.

First, let’s review notable price-moving events from last week.

Reata Pharmaceuticals, Inc. (Nasdaq: RETA) shares closed the week up 93% to $184.91 following news its Phase 2 MOXIe trial of omaveloxolone in patients with Friedreich’s ataxia (FA) met its primary endpoint of the change in the modified Friedreich’s Ataxia Rating Scale (mFARS) relative to placebo after 48 weeks of treatment.

Achillion Pharmaceuticals, Inc. (NASDAQ:ACHN) announced that it will be acquired by Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) for approximately $930m or $6.30 per share with additional contingent value rights (CVRs) to be paid to Achillion shareholders if certain clinical and regulatory milestones are achieved. Shares closed the week up 68% to $6.09.

Syros Pharmaceuticals (NASDAQ:SYRS) shares closed Thursday week down 31% to $6.96.The company announced it will discontinue further development of SY-1365, its intravenous (IV) CDK7 inhibitor.

Assembly Biosciences, Inc. (NASDAQ: ASMB) shares closed the week up 73% to $15.05. Mizuho Securities initiated coverage of the stock earlier in the week with a Buy rating and a price target of $20.

Relmada Therapeutics, Inc. (NASDAQ: RLMD) announced Tuesday its Phase 2 trial of REL-1017 (dextromethadone), as an adjunctive treatment in patients with treatment resistant depression, exhibited statistically significant improvement in depression compared to patients on placebo. Shares closed the week up 76% to $19.81.


Key earnings releases for the week of October 21:





Other notable events for October:

Drug Stage Catalyst Market Cap

AGRX – Agile Therapeutics Inc.
Contraceptive patch

Approved FDA Approval announced February 14, 2020.
$224.1 million

ARVN – Arvinas Inc.
Castration-resistant prostate cancer (CRPC)

Phase 1 Phase 1 data at ASCO 2020 - two ongoing confirmed PSA responses.
$1.3 billion

CLSN – Celsion Corporation
ThermoDox - OPTIMA
Hepatocellular carcinoma - liver cancer

Phase 3 Phase 3 second analysis due following IDMC meeting first half of July 2020. Final readout 1Q 2021.
$122.2 million

DCPH – Deciphera Pharmaceuticals Inc.
Rebastinib and paclitaxel
Solid tumors

Phase 1/2 Phase 1b/2 data presented May 29, 2020 at ASCO. 7/18 partial responses.
$3.1 billion

DCPH – Deciphera Pharmaceuticals Inc.
Ripretinib DCC-2618
Gastrointestinal Stromal Tumors (GIST) - second-fourth line

Phase 1 Phase 1 updated data presented at AACR-NCI-EORTC October 29, 2019.
$3.1 billion

ETON – Eton Pharmaceuticals Inc.
Injectable hospital product

Approved FDA Approval announced October 22, 2019.
$107.3 million

MRK – Merck & Company Inc. (new)
ARQ 751
Solid tumors

Phase 1 Phase 1b trial ongoing.
$193.6 billion

MRTX – Mirati Therapeutics Inc.
Solid tumors

Phase 1/2 Phase 1/2 updated data due 2H 2020.
$5.1 billion

SYRS – Syros Pharmaceuticals Inc.
SY-1425 and azaciditine
Acute Myeloid Leukemia / Myelodysplastic Syndrome

Phase 2 Phase 2 AML data due 4Q 2020.
$545.1 million