Shares of Akero Therapeutics Inc. (NASDAQ:AKRO) were trading midday at $16.50, down $32.04, or 66%, after disclosing eagerly awaited 36-week phase IIb data from the study called Symmetry. The 96-week experiment is testing the efficacy and safety of its lead product candidate efruxifermin (EFX), an FGF21 analogue, in patients with stage F4 compensated cirrhosis due to nonalcoholic steatohepatitis (NASH). The primary endpoint of fibrosis improvement was missed but a trend was observed at the 36-week mark, with 22% and 24% of the 28-mg and 50-mg EFX-treated groups, respectively, experiencing at least a one-stage improvement in liver fibrosis and no worsening of NASH, compared with 14% for placebo.

Ventyx’s S1P1 hits endpoints in phase II UC trial; stock down on etrasimod similarity

While Ventyx Biosciences Inc.’s oral S1P1 receptor modulator, VTX-002, achieved primary and secondary endpoints in a phase II ulcerative colitis (UC) trial, investors were less than pleased, with shares (NASDAQ:VTYX) falling 23% at midday Oct. 10 to $23.16, possibly due to a higher-than-expected placebo response and a clinical remission rate that was similar to Pfizer Inc.’s etrasimod. Pfizer’s drug, also an S1P1 (sphingosine-1 phosphate receptor-1) agonist, is ahead of VTX-002, on deck for a U.S. FDA marketing decision expected in the coming weeks for the UC indication. Despite the stock reaction, analyst Emily Bodnar, of H.C. Wainwright & Co., pointed to the 29% of participants on the 60-mg dose that achieved complete endoscopic remission, a secondary endpoint, which “clearly demonstrated benefit of VTX-002 vs. competitor drugs.”

Canada looks to AI, open-science network for drug R&D

With a $49 million investment from the Canadian government, the Conscience Open Science Drug Discovery Network is looking to go from zero to 60 in its efforts to streamline drug development to address traditional market failures in Canada. Taking a team sport approach, the nonprofit pan-Canadian network will work with 27 partners from academia, the biopharma industry and other nonprofits to advance new AI-based drug discovery algorithms, support data resources to train AI, and seed startups and drug discovery companies focusing on antiviral, antibacterial, rare or pediatric disease drugs. The government’s investment, announced last week, is expected to support more than 100 projects and the creation of 10 new businesses, while generating $150 million in private investment.

Chinese autoimmune, allergy biologics developer Qyuns files for HK IPO

Qyuns Therapeutics Co. Ltd. has filed to list on the Hong Kong Exchange (HKEX) to fund its autoimmune and allergic disease therapy pipeline, including lead assets QX-002N for ankylosing spondylitis and QX-005N for multiple indications including atopic dermatitis.

Newco news: Immunotherapy company Arbele banking on cadherin-17 as target for gastrointestinal cancers

Treatment options for gastrointestinal (GI) cancer remain limited and often ineffective, and CDH17 is being evaluated as a molecular target and as a biomarker for GI cancers, about 50% to 90% of which have been seen to overexpress CDH17, Arbele Ltd. Chief Medical Officer Dennis Wong, told BioWorld. Founded in 2016 with the mission to develop innovative immunotherapies and breakthrough diagnostics to provide early intervention and treatment for people with gastrointestinal cancers, Arbele has R&D facilities in Hong Kong, Sydney, Seattle, Guangzhou and Singapore. It is headquartered in Hong Kong.

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Aatec, Acousia, Almirall, Alnylam, Anaptys, Aquestive, Astrivax, Atom, Avidity, Berlin Cures, Biomap, Blue Water, Bridgebio, Canariabio, Canbridge, Centrient, Couragene, Coya, Curasen, Eloxx, GPCR, Helsinn, Hikma, Icosagen, Innovent, Janssen, Jasper, Kamada, MBX, Medicenna, Neumora, Newron, Novartis, Ocugen, Okyo, Oxford, Pacira, Pharmenable, Pheon, Protagonist, Radiopharm Theranostics, Reneo, Renovaro, Salipro, Salubris, Samsung Bioepis, Sanofi, Saponiqx, Sibylla, Sosei Heptares, Specific, Stem, Tenaya, Theramex, Tonix, Ultimovacs, Venatorx, Verge Genomics, XNK, Zevra