Biotech Digest – IMDZ Reports Data, JNJ Terminates Collaboration -

Biotech Digest – IMDZ Reports Data, JNJ Terminates Collaboration

Sep 01, 2017Jeremy ParkinsonFinance0

Top Pick of the Day: IMDZ

Immune Design (IMDZ) announced interim top line data from a Phase 2 clinical trial assessing the combination of its CMB305 and Roche’s TECENTRIQ (atezolizumab) compared to TECENTRIQ alone in 88 soft tissue sarcoma patients. The data showed a treatment effect from CMB305. Data on the first 36 patients demonstrated a clinical benefit from the inclusion of CMB305 as measured by disease control rate, progression-free survival and time-to-next treatment. CMB305 is a prime-boost vaccine against NY-ESO-1-expressing tumors designed to generate an integrated anti-NY-ESO-1 response. The company says its approach is unique is different other cancer vaccines.
The company stock responded positively to the news and jumped over 7 percent in its previous trading session. The stock has gained over 58 percent in the past 12 months.

Focus Ticker: DXTR

Dextera Surgical (DXTR) stock surged as the company announced receiving the 510(k) clearance from the FDA for its MicroCutter 5/80 Stapler and MicroCutter 30 White and Curved Tip White Reloads for use in open solid organ parenchymal dissection techniques, including the liver, kidney, pancreas and spleen. The label extension may open up an additional addressable market of 44,000 procedures in the US each year.
The stock gained over 10 percent in its previous trading session, trimming its Year to Date losses to 62 percent. The stock has lost over 83 percent in the past 12 months.

Sector News

Janssen Biotech (JNJ) announced that it has decided to terminate its collaboration with MacroGenics (MGNX). The deal pertained to CD19 x CD3 DART molecule duvortuxizumab. The decision was made after a number of patients in a Phase 1 dose-escalation study developed treatment-related neurotoxicity similar to what has been observed with other CD19-targeting T-cell therapies.

Forward Pharma (FWP) announced that it plans to return to shareholders the bulk of the $1.25 billion it received from Biogen earlier this year. The proceeds related to a patent covering methods of treating MS patients. The company granted Biogen an irrevocable license to all of its intellectual property in lieu of the payment.