Our list of events to watch over the next three weeks remains largely unchanged following a relatively quiet week of clinical readouts and regulatory events. Noted price moving and other news events from the week that was are noted below:
The White House announced as part of its Warp Speed program, five COVID vaccines that it sees as most likely to succeed. The five companies that have been selected are Moderna (MRNA), Astrazeneca (AZN), Johnson & Johnson (JNJ), Merck & Co. (MRK) and Pfizer (PFE). Notable companies not on the list that have made headlines recently include Inovio Pharmaceuticals, Inc. (NASDAQ:INO), Novavax, Inc. (NASDAQ: NVAX) and Sanofi (NASDAQ: SNY). Bloomberg did report later, however, that the White House is having discussions with an additional two companies. The Warp Speed program is reportedly aiming to have ready 300 million doses by the end of this year.
Mereo BioPharma Group plc (NASDAQ: MREO) announced Thursday the completion of a $70m private placement with institutional and accredited investors. The fundraising was led by healthcare fund, Orbimed. Mereo also announced plans to advance etigilimab (Anti-TIGIT) into a Phase 1b trial in 4Q 2020. Shares of the micro-cap company closed the week up 121% to $2.81.
Iterum Therapeutics plc (NASDAQ:ITRM) shares slumped to close the week down 64% to $1.53 on news its Phase 3 trial of sulopenem did not achieve statistical non-inferiority relative to ertapenem in its trial in patients with complicated urinary tract infection (cUTI). Data from its trial in uncomplicated urinary tract infection (uUTI) are due later this month.
Ocugen, Inc. (NASDAQ: OCGN) shares closed the week down 19% to $0.25 following its announcement to discontinue the Phase 3 trial of OCU300 for ocular Graft vs. Host Disease (oGVHD) due to results of interim analysis which indicated the trial was unlikely to meet its co-primary endpoints.
Novus Therapeutics, Inc. (NASDAQ:NVUS) announced top-line data from its Phase 2a clinical trial of OP0201 in acute otitis media (study C-006) did not meet the primary endpoint. Shares slid to close the week down 58% to $0.53.
Biotech catalysts to watch in June: