BPC November 21 update

Phase 3 key biotech stock catalysts left for 2019; Biotech week in Review

Weekly watchlist

Following last week’s look at notable remaining Phase 1/2 catalysts for 2019, we list 14 key Phase 3 catalysts that have readouts slated for release by the end of year.

First let’s review what was another full week of price-moving news.

Karuna Therapeutics, Inc. (Nasdaq: KRTX) announced Monday that its Phase 2 clinical trial of KarXT for the treatment of acute psychosis in patients with schizophrenia, met the primary endpoint, exhibiting a statistically significant 11.6 point mean reduction in total Positive and Negative Syndrome Scale (PANSS) score compared to placebo. Shares closed the week up 381% to $85.01.

The Medicines Company (NASDAQ: MDCO) shares closed the week up 32% to $68.55 following updated data presented at the AHA meeting from two Phase 3 trials of its cholesterol lowering drug, inclisiran. In its ORION-9 trial the company noted reductions of LDL cholesterol of 50% over 18 months compared with placebo, while the ORION-10 trial saw the reductions increase to 58%. Both trials had previously shown to meet their respective primary endpoints.

Myovant Sciences (NYSE: MYOV) announced its Phase 3 HERO trial of oral relugolix met its primary efficacy endpoint and all six key secondary endpoints in men with advanced prostate cancer. Shares closed the week up 128% to $14.09.

Athenex, Inc. (NASDAQ:ATNX) shares closed the week up 38% to $16.08 following its announcement that its abstract for the Phase 3 trial of oral paclitaxel and encequidar (oral paclitaxel) has been selected for the press program of the 2019 San Antonio Breast Cancer Symposium (SABCS) on Friday, December 13, 2019. The abstract title noted the treatment to be “the first orally administered paclitaxel shown to be superior to IV paclitaxel on confirmed response and survival with less neuropathy.

Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY) announced the FDA approved Givlaari (givosiran) injection for subcutaneous use for the treatment of adults with acute hepatic porphyria (AHP). Shares closed the week up 16% to $106.91.

Corcept Therapeutics Incorporated (NASDAQ: CORT) shares closed Thursday down 22% to $13.22 following news the U.S. Patent and Trademark Office (USPTO) will review the validity of a patent for Korlym, its approved drug in patients with Cushing's syndrome. The review follows a challenge made by Teva Pharmaceutical Industries Ltd.


Phase 3 key biotech stock catalysts left for 2019:

Drug Stage Catalyst Market Cap

ACST – Acasti Pharma Inc.
CaPre (TRILOGY 1 and 2)

Phase 3 Phase 3 top-line data due in December 2019 (1) and late-January 2020 (2).
$158.7 million

ALNY – Alnylam Pharmaceuticals Inc.
Primary Hyperoxaluria Type 1 (PH1)

Phase 3 Phase 3 data due late-2019.
$13.8 billion

ARDX – Ardelyx Inc.
Tenapanor - PHREEDOM
Hyperphosphatemia in end-stage renal disease (ESRD) patients

Phase 3 Phase 3 data met primary endpoint - December 3, 2019.
$429.6 million

ATNX – Athenex Inc.
Metastatic breast cancer

Phase 3 Phase 3 top-line data met primary endpoint (ORR), secondary endpoints (PFS/OS) yet to hit. Presentation due at SABCS December 13, 2019.
$1.4 billion

AUPH – Aurinia Pharmaceuticals Inc
Voclosporin - AURORA

Phase 3 Phase 3 trial met primary endpoint - December 4, 2019.
$1.5 billion

AXSM – Axsome Therapeutics Inc.
Major Depressive Disorder

Phase 3 Phase 3 data due 4Q 2019.
$1.6 billion

BGNE – BeiGene Ltd.
Zanubrutinib (BGB-3111) - ASPEN
Waldenström’s macroglobulinemia

Phase 3 Phase 3 top-line data due 4Q 2019.
$11.4 billion

BIIB – Biogen Inc.
Aducanumab (Aβ mAb) - EMERGE
Alzheimer’s disease

Phase 3 Phase 3 trial discontinued due to futility - unlikely to meet primary endpoint upon completion - March 21, 2019. However, noted October 22, 2019 that it intends to submit a BLA filing early 2020 based on data that showed the primary endpoint was met. Data released December 5, 2019 noted rate of decline in CDR-SB of 23% on high dose (p=0.0101 ); 14% on low dose (p=0.1171).
$54.2 billion

BMRN – BioMarin Pharmaceutical Inc.

Phase 3 Phase 3 top-line data due end of 2019.
$14.4 billion

CCXI – ChemoCentryx Inc.
Avacopan - CCX168 (ADVOCATE)
Associated vasculitis (AAV)

Phase 3 Phase 3 data met primary endpoints - November 25, 2019.
$1.8 billion

OBSV – ObsEva SA
Linzagolix OBE2109 - PRIMROSE 2
Uterine fibroids

Phase 3 Phase 3 data to be announced Monday December 9, 2019. CC 8am EST.
$200.2 million

SAGE – Sage Therapeutics Inc.
Major Depressive Disorder (MDD)

Phase 3 Phase 3 data did not meet primary endpoint - December 5, 2019.
$3.3 billion

SLGL – Sol-Gel Technologies Ltd.

Phase 3 Phase 3 data due 4Q 2019.
$170.4 million

TGTX – TG Therapeutics Inc.
TG-1101 and TGR-1202 - UNITY-CLL study
Chronic Lymphocytic Leukemia (CLL) and non-Hodgkin's Lymphoma (NHL)

Phase 3 Phase 3 PFS data due late 2019 or early 2020.
$708.9 million