Shares in Swedish biotech firm Rhovac AB collapsed May 30 on news that its therapeutic cancer vaccine, RV-001 (onilcamotide), failed to exhibit efficacy in a phase IIb trial in metastatic prostate cancer. The stock lost 94% of its value when trading opened on the Spotlight junior exchange in Stockholm.
Mirati Therapeutics Inc. posted new data for its highly anticipated KRAS cancer fighter, adagrasib (MRTX-849), showing mixed results compared to its already-marketed competition, Lumakras (sotorasib) from Amgen Inc. The new data came from a cohort of patients with KRAS-G12C non-small-cell lung cancer enrolled in Mirati’s registration-enabling phase II Krystal-1 study. Each had received at least one prior systemic therapy, most with a PD-1/L1 inhibitor following or in combination with chemotherapy.
Phase II melanoma data characterized by Iovance Biotherapeutics Inc. as positive failed to excite Wall Street, which took away 53.6% of the company’s share value (NASDAQ:IOVA), or $8.10, and pushed the closing price to $7.02 on May 27. The San Carlos, Calif.-based firm offered results from registrational cohort 4 (n=87) of the C-144-01 study testing lifileucel (LN-144, autologous tumor infiltrating lymphocytes) in advanced melanoma.
New and updated preclinical and clinical data to be presented by biopharma firms at American Society of Clinical Oncology annual meeting, including: Aadi, Adagene, Adaptimmune, Adicet, Advaxis, Amgen, Aura, Biomea.
Nurix Therapeutics Inc. has started its first phase Ib expansion cohort for treating chronic lymphocytic leukemia with NX-2127 but it is facing the headwind of a drop in share price. Shares (NASDAQ:NRIX) of the San Francisco-based company closed 22.7% lower at $7.88 each on May 26. Share prices in the past 12 months have drifted lower since their crest of $26.69 each on Sept. 9, 2021.
Interim phase I data from 16 patients with refractory metastatic uveal melanoma provide a tantalizing hint that Ionctura SA’s phosphoinositide 3-kinase (PI3K) delta inhibitor IOA-244 PI3 may offer a survival benefit. Thirteen of the 16 patients –
81.25% – remained alive and on therapy after 12 months of treatment. All had received one or more prior therapies.
Elasmogen Ltd. has secured a “transformational” £8 million (US$10 million) in new funding with which to move its shark-based, antibody-like constructs toward the clinic.
Springworks Therapeutics Inc. plans to file an NDA for its lead drug candidate, nirogacestat, for treating desmoid tumors later this year, as top-line data from a pivotal phase III trial indicate that it provided patients with a substantial progression-free survival benefit.
Zhejiang Acea Pharmaceutical Co. Ltd. failed to obtain marketing approval from China’s NMPA for its third-generation EGFR tyrosine kinase inhibitor, abivertinib. The NDA was based on a phase II trial of abivertinib in patients with EGFR Thr790Met point mutation-positive non-small-cell lung cancer with disease progression from prior EGFR inhibitors.
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