Thursday, October 11, 2012
Kythera, Intercept Dazzle with Dueling IPOs
Intercept Pharmaceuticals Inc. and Kythera Biopharmaceuticals Inc. each priced initial public offerings (IPO) at the top of their ranges Thursday, and both companies surged in early trading, selling several dollars above even that top price. Intercept (NASDAQ:ICPT) gained 26 percent by midday, and Kythera (NASDAQ:KYTH) gained 20 percent. The bullish response to the two biotech IPOs represents a major change from the IPOs of 2011 and early 2012, many of which were lucky to price at half their target range. Timed to apparent perfection, Intercept and Kythera will have raised $75 million and $70.4 million, respectively, before expenses, in their first public stock offerings.
Amicus’ Pompe Picture Stays Bright with Interim Phase II Results
At a scientific meeting in Australia, Amicus Therapeutics Inc. whetted investor appetite for full data by the end of the year with its Phase II, open-label drug-drug interaction study testing pharmacological chaperone AT2220 (duvoglustat) administered with enzyme replacement therapy for Pompe disease (Myozyme and Lumizyme [alglucosidase alfa, from Sanofi SA unit Genzyme Corp.]). The firm reported positive interim results from Study 010, with enzyme hikes across all three cohorts of the trial, the greatest being in the third, highest dose cohort of six patients, each given 250 mg of AT2220. At the 17th International World Muscle Society Congress in Perth, Amicus also talked about favorable results from ex vivo studies to check out the immunogenicity of Myozyme and Lumizyme with and without AT2220.
Pharma Focus: GSK to Shine Light on Raw Clinical Trial Data
GlaxoSmithKline plc (GSK) took extraordinary steps toward data transparency Thursday, disclosing plans to accelerate its “open innovation” approach to R&D by allowing researchers access to detailed patient-level data underlying clinical trials both for approved medicines and failed investigational compounds. The London-based pharma also said it will make its library of potential tuberculosis compounds freely available to researchers and double the funding for its Open Lab for independent researchers in Tres Cantos, Spain. Although GSK posts summary information at the outset of each trial and shares abridged results of protocols and findings – positive or negative – on its freely accessible clinical study register, the new transparency initiative goes much further, putting pressure on other big pharmas to follow suit.
NewCo News: Emmaus Medical Carried Far by Friends, Family Funding
It was compassion that moved Yutaka Niihara to start Emmaus Medical Inc. more than 10 years ago. The hematologist and University of California, Los Angeles, professor would have been content to continue with his medical practice and teaching, had it not been his passion for research and his desire to find a treatment for the intense pain crises his sickle cell patients suffered.
Also in the News
Acceleron, Actelion, Addex, Advanced Cancer Therapeutics, Affitech, Agios, Amarantus BioSciences, Arca Biopharma, AtheroNova, Biogen Idec, Cytori, Elan, Euthymics, Genesis Biopharma, Inovio Pharmaceuticals, Marina Biotech, Merck Serono, Navidea, Pfizer, Somaxon Pharmaceuticals, StemCells, Theragenics, Trophos, Valirx, Vertex, Zeltia
See Friday's BioWorld Today for More on These and Many Other Stories.
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