BPC March 24 update

​CytomX CTMX collaboration - shares rally 32%; Novavax NVAX meets endpoints in flu vaccine trial +19%

Price and Volume Movers

Iovance Biotherapeutics, Inc. (NASDAQ: IOVA) shares spiked in early afternoon trading to close up 35% to $32.14 following news that it has cancelled its conference call with Jefferies, originally scheduled for March 25.

CytomX Therapeutics, Inc. (NASDAQ:CTMX) announced a collaboration with Astellas Pharma Inc. for the development of novel T-cell engaging bispecific antibodies targeting CD3 and tumor cell surface antigens for the treatment of cancer. CytomX will receive an upfront cash payment of $80m and is eligible to receive future preclinical, clinical and commercial milestones of around $1.6b. Shares closed up 32% to $6.53.

Novavax, Inc. (NASDAQ: NVAX) announced that its Phase 3 trial of its NanoFlu seasonal influenza vaccine met the primary endpoints, demonstrating non-inferior immunogenicity compared to Fluzone Quadrivalent, a U.S.-licensed quadrivalent influenza vaccine. Shares closed up 19% to $12.77.

Capricor Therapeutics, Inc. (NASDAQ: CAPR) announced it will host a Key Opinion Leader (KOL) call on why exosomes are suited for vaccine development on March 26, 2020 at 12pm EST. In the call, plans to further develop its exosome platform technologies including its potential application as a COVID-19 vaccine, will be discussed. Shares closed up 52% to $1.76.

Novan, Inc. (NASDAQ:NOVN) shares closed down 26% to $0.46 following its announcement of the issuance and sale of 18,604,652 shares of its common stock (or pre-funded warrants to purchase common stock) at an effective purchase price of $0.43 per share (or pre-funded warrant) in a registered direct offering. Gross proceeds of $8m are expected.

Ampio Pharmaceuticals, Inc. (NYSE American: AMPE) shares closed down 16% to $0.37. The company announced it has suspended patient enrolment in its Phase 3 clinical trial of Ampion for the treatment of severe osteoarthritis of the knee. It noted the suspension was due to a recommendation from the Safety Monitoring Committee following an interim analysis and due to circumstances relating to the COVID-19 virus, to minimize risk to study participants.

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Major price movers (stocks priced > $1.00, volume > 50k):

Refer to the BioPharmCatalyst Biotech Stocks page for Top 10 Gainers/Losers/Unusual Volume:

ADVANCERS:

scPharmaceuticals Inc. (SCPH): $7.88; +41%.

ImmunoGen, Inc. (IMGN): $3.41; +34%.

Verrica Pharmaceuticals Inc. (VRCA): $10.69; +34%.

Oncolytics Biotech Inc. (ONCY): $1.52; +33%.

Precigen, Inc. (PGEN): $3.00; +32%.

DECLINERS:

Milestone Pharmaceuticals Inc. (MIST): $1.70; -88%.

Baudax Bio, Inc. (BXRX): $2.27; -48%.

Bellerophon Therapeutics, Inc. (BLPH): $9.20; -24%.

Equillium, Inc. (EQ): $2.30; -18%.

Hoth Therapeutics, Inc. (HOTH): $3.15; -16%.

Pipeline updates below:

Pipeline Database Updates

Drug Stage Catalyst Market Cap

ALEC – Alector Inc.
AL001
Frontotemporal Dementia

Phase 2 Phase 2 data to be presented in 2020.
$2.4 billion

ALLK – Allakos Inc.
Antolimab (AK002)
Eosinophilic Gastritis

Phase 3 Phase 3 top-line data due 2H 2021.
$3.2 billion

ALLK – Allakos Inc.
Antolimab (AK002)
Eosinophilic esophagitis

Phase 2/3 Phase 2/3 top-line data due 2H 2021.
$3.2 billion

AMPE – Ampio Pharmaceuticals Inc.
Ampion
Osteoarthritis of the Knee

Phase 3 Phase 3 enrolment has been suspended - noted March 24, 2020.
$80.3 million

ARAV – Aravive Inc.
AVB-500 and avelumab
Urothelial Carcinoma

Phase 1/2 Phase 1/2 initiation announced March 24, 2020.
$201.3 million

DFFN – Diffusion Pharmaceuticals Inc.
Trans sodium crocetinate (TSC) - PHAST-TSC
Ischemic or hemorrhagic stroke

Phase 2 Company noted March 24, 2020 that it expects delays in enrolment due to COVID-19. Previous guidance for data release was for 2022.
$69.2 million

IDYA – IDEAYA Biosciences Inc.
IDE196 and binimetinib
Solid Tumors

Phase 1/2 Phase 1/2 trial to be initiated likely in 2020.
$178.9 million

KRTX – Karuna Therapeutics Inc.
KarXT
Healthy elderly volunteers / dementia-related psychosis

Phase 1b Phase 1b data due by the end of 2020.
$2.6 billion

NVAX – Novavax Inc.
NanoFlu vaccine
Influenza

Phase 3 Phase 3 top-line data met primary endpoints - March 24, 2020.
$2.6 billion

ONTX – Onconova Therapeutics Inc.
IV Rigosertib - INSPIRE
2nd-line HR-MDS (high risk myelodysplastic syndromes)

Phase 3 Phase 3 data due 2H 2020.
$78.2 million

SCPH – scPharmaceuticals Inc.
Furoscix
Heart failure

NDA Filing CRL issued June 13, 2018. NDA to be refiled mid-2020.
$231.5 million

SLGL – Sol-Gel Technologies Ltd.
VERED (Epsolay)
Papulopustular rosacea

NDA Filing NDA filing due 2Q 2020.
$184.9 million

SLGL – Sol-Gel Technologies Ltd.
SGT-210
Palmoplantar keratoderma (PPK)

Phase 1 Phase 1 data due 2021.
$184.9 million

TNXP – Tonix Pharmaceuticals Holding Corp.
TNX-102 SL (Tonmya)
Fibromyalgia

Phase 3 Phase 3 interim analysis due September 2020. Top-line data due 1Q 2021.
$34.3 million