BPC April 01 update

Phase 3 clinical data readouts to watch for the second quarter of 2021; Biotech week in review

Weekly watchlist

With the first quarter of 2021 filed away, we now look forward to a fresh batch of catalysts for the new quarter. Over the next few weeks we highlight key catalysts, commencing with notable Phase 3 data readouts this week, followed by Phase 1/2 catalysts the week after.

First, let’s review the week that was with notable price-moving news.

REGULATORY:

United Therapeutics Corporation (Nasdaq: UTHR) announced that the FDA approved Tyvaso (treprostinil) Inhalation Solution for the treatment of patients with pulmonary hypertension associated with interstitial lung disease (PH-ILD; WHO Group 3) to improve exercise ability. Shares closed Friday up 15% to $192.34.

CLINICAL DATA:

Humanigen, Inc. (Nasdaq: HGEN) shares closed the week up 37% to $19.21 following the release of data from its Phase 3 clinical trial evaluating lenzilumab in patients hospitalized with COVID-19. The trial met its primary endpoint with patients who received lenzilumab and other treatments, exhibiting a 54% greater relative likelihood of survival without the need for invasive mechanical ventilation compared with placebo and other treatments (p=0.0365).

AzurRx BioPharma, Inc. (NASDAQ: AZRX) shares closed Friday down 24% to $1.02 on news top-line data from its Phase 2b OPTION 2 clinical trial investigating MS1819 in cystic fibrosis (CF) patients with exocrine pancreatic insufficiency (EPI) did not meet the primary efficacy endpoint.

BioXcel Therapeutics, Inc. (NASDAQ: BTAI) announced that its Phase 1b/2 proof-of-concept RELEASE study of BXCL501, for the treatment of opioid withdrawal symptoms met its primary safety endpoint. However, with respect to retention, a secondary endpoint, the study showed improvements but were not statistically significant. Shares closed Friday down 13% to $37.63.

Delcath Systems, Inc. (NASDAQ:DCTH) shares closed the week down 27% to $12.25 following its release of top-line preliminary data from its Phase 3 FOCUS trial of HEPZATO KIT in patients with liver dominant metastatic ocular melanoma (mOM). An Overall Response Rate (ORR) of 29.2% was recorded compared with the predefined success criteria (21.0%) for the primary ORR endpoint [95% CI: 20.1, 39.8].

Wave Life Sciences Ltd. (Nasdaq: WVE) announced it will stop development of its Huntington’s disease treatments of WVE-120102 and WVE-120101 due to insufficient evidence of efficacy. Shares closed the week down 17% to $6.09.

Orphazyme A/S (ORPH) announced its Phase 2/3 trial evaluating arimoclomol for the treatment of inclusion body myositis (IBM) did not meet its primary and secondary endpoints. Shares closed the week down 31% to $8.60.

OTHER:

Johnson & Johnson (NYSE:JNJ) announced that a batch of its COVID-19 vaccine manufactured by Emergent Biosolutions did not meet the desired quality control standards. The New York Times reported that workers at the manufacturing facility accidentally mixed the ingredients from two vaccines of Johnson & Johnson and AstraZeneca, contaminating up to 15 million doses. Shares of Emergent BioSolutions Inc. (NYSE: EBS) fell Friday 13% to $80.46 on the report. However, its CEO, in an interview on CNBC, noted that there was not a mix-up and the batch was pulled as it was inconsistent with their quality specifications.

Phase 3 clinical data readouts to watch for the second quarter of 2021:

Drug Stage Catalyst Market Cap

ALDX – Aldeyra Therapeutics Inc.
Reproxalap (INVIGORATE)
Allergic conjunctivitis

Phase 3 Phase 3 data due 2Q 2021.
$568.9 million

ALNY – Alnylam Pharmaceuticals Inc.
Vutrisiran - HELIOS-A
ATTR amyloidosis

Phase 3 Phase 3 9-month data to be presented at AAN meeting April 19, 2021 at 2:00 pm ET.
$16.2 billion

APLS – Apellis Pharmaceuticals Inc.
APL-2 PRINCE
Paroxysmal Nocturnal Hemoglobinuria (PNH)

Phase 3 Phase 3 top-line data due 2Q 2021.
$3.3 billion

BLRX – BioLineRx Ltd.
BL-8040 GENESIS
Stem-cell mobilization for autologous transplantation

Phase 3 Phase 3 top-line data due early-2Q 2021.
$122.3 million

CRBP – Corbus Pharmaceuticals Holdings Inc.
Lenabasum (resunab) - DETERMINE
Dermatomyositis

Phase 3 Phase 3 data due 2Q 2021.
$230.1 million

CVAC – CureVac N.V.
CVnCoV
COVID-19 vaccine

Phase 2/3 Phase 2b/3 data due 2Q 2021.
$16.4 billion

MACK – Merrimack Pharmaceuticals Inc.
Onivyde - RESILIENT (acquired by Ispen)
Small Cell Lung Cancer

Phase 3 Phase 3 interim data due 2Q 2021 (trial conducted by Ispen).
$82.5 million

MGNX – MacroGenics Inc.
Margetuximab and MGA012 (MAHOGANY)
Gastric cancer

Phase 2/3 Phase 2/3 update 2Q 2021.
$1.9 billion

NVAX – Novavax Inc.
NVX-CoV2373
COVID-19 vaccine

Phase 3 Phase 3 U.K. final data released March 11, 2021. 96% efficacy against original strain. 86% against U.K. variant. Phase 2b South African trial 55% effective in HIV-negative patients. Phase 3 U.S. trial data due early April 2021.
$13.3 billion

ORPH – Orphazyme A/S
Arimoclomol
Amyotrophic Lateral Sclerosis

Phase 3 Phase 3 data due 2Q 2021.
$309 million

PCRX – Pacira BioSciences Inc.
EXPAREL
Lower extremity nerve blocks

Phase 3 Phase 3 data due 2Q 2021.
$3 billion

PHAT – Phathom Pharmaceuticals Inc.
Vonoprazan PHALCON-HP
H. pylori

Phase 3 Phase 3 top-line data due 2Q 2021.
$1.1 billion

QURE – uniQure N.V.
Etranacogene dezaparvovec (AMT-061) - HOPE-B
Hemophilia B

Phase 3 Phase 3 clinical hold announced December 21, 2020. Announced March 29, 2021 that cause of hold was unlikely caused by Etranacogene dezaparvovec. Top-line data to be presented 2Q 2021.
$1.5 billion

SAGE – Sage Therapeutics Inc.
Zuranolone (SAGE-217) - WATERFALL Study (MDD-301B)
Major depressive disorder (MDD)

Phase 3 Phase 3 data due 2Q 2021.
$4.5 billion