A readout of phase III data of buntanetap in Parkinson’s disease is up next as Annovis Bio Inc. tries to recover from the market’s reaction to mixed phase II/III results in Alzheimer’s disease. The company’s stock (NYSE:ANVS) dropped 60% when the data were released on April 29 and continued downward on April 30, with shares closing 23.5% lower at $5.57 each. The shares’ 12-month peak was on Dec. 27 at $19.54 each.
Boston-based South Korean biotech Genosco Inc. said on April 25 that it passed a technology review required for the special listing track on the tech-heavy Kosdaq market, as it readies an IPO on the Korea Exchange.
Suzhou, China-based Kintor Pharmaceutical Ltd. reported positive findings from a phase II study of GT-20029, a topical therapy for male androgenetic alopecia, on April 21 – boosting both the company’s stock and its chances of a late-stage clinical study in China and the U.S.
Yuhan Corp., of Seoul, South Korea, added a new potential cancer drug to its oncology pipeline, licensing a son of sevenless homolog 1 (SOS1) inhibitor co-developed by Cyrus Therapeutics Inc. and Kanaph Therapeutics Inc. for ₩208 billion (US$156.3 million).
Nurix Therapeutics Inc. landed its second big pharma collaboration in seven months when it signed with Sanofi SA to discover, develop and commercialize a pipeline of protein degradation therapies. In the Sanofi deal, Nurix receives $55 million up front and is eligible for up to about $2.5 billion in total payments based on achieved milestones. To start, Nurix will design small molecules to induce degradation in three specific targets while Sanofi has the option to up the ante to five targets. Sanofi receives exclusive rights and will handle clinical development and commercialization and Nurix retains the option to co-develop and co-co-promote up to two products in the U.S.
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