Biotech Alert: Searches spiking for these stocks today

These names in the biotech sector are seeing a substantial increase in search activity today, as determined by InvestingChannel. They include: 

• Chimerix (CMRX), 373% surge in interest
• Aptose Biosciences (APTO), 368% surge in interest
• Esperion Therapeutics (ESPR), 310% surge in interest
• Immunogen (IMGN), 255% surge in interest
• Emergent Biosolutions (EBS), 220% surge in interest

Pipeline and key clinical candidates for these companies:

Chimerix is a biopharmaceutical company with a mission to develop medicines that meaningfully improve and extend the lives of patients facing deadly diseases. The company’s most advanced clinical-stage development program, ONC201, is in development for H3 K27M-mutant glioma.

Aptose Biosciences is focused on developing precision medicines addressing unmet medical needs in oncology, with an initial focus on hematology. The company’s small molecule cancer therapeutics pipeline includes products designed to provide single agent efficacy and to enhance the efficacy of other anti-cancer therapies and regimens without overlapping toxicities. The company has two clinical-stage oral kinase inhibitors under development for hematologic malignancies: tuspetinib, an oral, myeloid kinase inhibitor in an international Phase 1/2 trial in patients with relapsed or refractory acute myeloid leukemia; and luxeptinib, an oral, dual lymphoid and myeloid kinase inhibitor in Phase 1 a/b stage development for the treatment of patients with relapsed or refractory hematologic malignancies.

Esperion discovers, develops, and commercializes innovative medicines and combinations to lower cholesterol, especially for patients whose needs aren’t being met by the status quo.

ImmunoGen is developing the next generation of antibody-drug conjugates to improve outcomes for cancer patients. By generating targeted therapies with enhanced anti-tumor activity and favorable tolerability profiles, the company aims to disrupt the progression of cancer and offer patients more good days.

Emergent provides solutions for complex and urgent public health threats through a portfolio of vaccines and therapeutics that the company develops and manufactures for governments and consumers. Emergent also offers a range of integrated contract development and manufacturing services for pharmaceutical and biotechnology customers.

Recent news on these stocks:

August 3

Chimerix reported Q2 EPS of (21c) against a consensus of (24c), and reported Q2 revenue of $36K against a consensus of $230K. “I am thrilled to begin leading the organization during such a pivotal time in Chimerix’s history and in the field of neuro-oncology, where several genetically defined programs have advanced the field recently. During the second quarter, our team has been laser focused on site activation and enrollment of the Phase 3 ACTION study which now includes 77 sites enrolling patients across 11 countries and an enrollment rate that remains on track for the first interim overall survival analysis in early 2025. We are incredibly grateful to the neuro-oncology community which is eagerly supporting the ACTION study in order to advance the treatment for patients with this cancer. H3 K27M-mutant glioma is estimated to occur in 5,000 people annually in the major global markets,” said Mike Andriole, CEO of Chimerix.

August 1

Esperion reported Q2 EPS of (46c) against a consensus of (61c), and reported Q2 revenue of $25.8M against a consensus of $24.64M. “We posted strong results in Q2, reflecting continued prescription growth and an unwavering commitment to execution of our strategic plan,” said CEO Sheldon Koenig. “Following the presentation of our CLEAR Outcomes results in March, we subsequently filed regulatory applications in both the U.S. and Europe to meaningfully expand the current indications and remove restrictions for use of NEXLETOL and NEXLIZET… Our impressive outcomes data clearly demonstrate the effectiveness of bempedoic acid not only in secondary prevention patients, but also in the primary prevention population, meaningfully expanding the number of patients who could benefit from NEXLETOL and NEXLIZET to achieve their LDL-C goals and reduce their cardiovascular risk. These results continue to demonstrate the significant benefits of our therapies as the clear next step in treatment after statins,” he concluded.

July 31

Canaccord raised the firm’s price target on ImmunoGen to $25 from $23 and kept a Buy rating on the shares following the company’s Q2 earnings report. The firm noted the company’s ELAHERE posted excellent net sales of $77.4M versus a $38.7M consensus, indicating a very rapid uptake. Avastin combination use is a promising driver, which should expand. Also, the firm believes that PICCOLO data YE23 should pave the way for usage in platinum sensitive patients.

Emergent BioSolutions announced that it was awarded a 10-year contract by the Biomedical Advanced Research and Development Authority, or BARDA, part of the Administration for Strategic Preparedness and Response, or ASPR, within the U.S. Department of Health and Human Services, or HHS, valued at up to a maximum of $704M, for advanced development, manufacturing scale-up, and procurement of Ebanga, a licensed treatment for Ebola virus disease, or EVD. The 10-year contract consists of a base period of performance with two option periods for advanced development valued at approximately $121M, and option periods for procurement of Ebanga treatment over five years valued at up to $583M. If all option periods are exercised, the total contract value will be valued at up to approximately $704M. Under the terms of the contract, Emergent will complete activities to advance the development of Ebanga treatment through post-licensure commitments, including the transfer of technology as part of manufacturing scale-up, submission of a supplemental Biologics License Application to the FDA, and completion of stability studies.

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About “Biotech Alert”

The Fly will report on a selection of biotech stocks seeing a surge in interest from retail and financial professional investors, based on data from InvestingChannel.

This Fly exclusive recap reveals the biotech stocks that are seeing a spike in searches among the 20-plus million retail and financial professional investors through InvestingChannel’s online financial news media ecosystem.

This increased attention from the investors may be in response to, or advance of, outsized moves for stocks in the biotech sector, which tend to be volatile and prone to sharp swings in share price around binary events such as clinical study results and FDA approvals.