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: 

• Plus Therapeutics (PSTV), 1,773% surge in interest
• Leap Therapeutics (LPTX), 88% surge in interest
• Axcella Health (AXLA), 53% surge in interest
• Viking Therapeutics (VKTX), 42% surge in interest
• CymaBay Therapeutics (CBAY), 36% surge in interest

Pipeline and key clinical candidates for these companies:

Plus Therapeutics is a clinical-stage pharmaceutical company developing targeted radiotherapeutics for difficult-to-treat cancers of the central nervous system with the potential to enhance clinical outcomes for patients. “Combining image-guided local beta radiation and targeted drug delivery approaches,” the company says it is advancing a pipeline of product candidates with lead programs in recurrent glioblastoma and leptomeningeal metastases.

Leap Therapeutics is focused on developing targeted and immuno-oncology therapeutics. Leap’s most advanced clinical candidate, DKN-01, is a humanized monoclonal antibody targeting the Dickkopf-1 protein. DKN-01 is being developed in patients with esophagogastric, gynecologic, and colorectal cancers. Leap has entered into a strategic collaboration with BeiGene (BGNE) for the rights to develop DKN-01 in Asia excluding Japan, Australia, and New Zealand.

Axcella is “pioneering a new approach to treat complex diseases using compositions of endogenous metabolic modulators,” or EMMs, the company states. The company’s product candidates are comprised of EMMs and derivatives that are engineered in distinct combinations and ratios to reset multiple biological pathways, improve cellular energetics, and restore homeostasis. Axcella’s pipeline includes lead therapeutic candidates in Phase 2 development for the treatment of Long COVID, NASH, and the reduction in risk of OHE recurrence.

Viking Therapeutics is focused on the development of novel first-in-class or best-in-class therapies for the treatment of metabolic and endocrine disorders. The company’s clinical programs include VK2809, a novel, orally available, small molecule selective thyroid hormone receptor beta agonist for the treatment of lipid and metabolic disorders, which is currently being evaluated in a Phase 2b study for the treatment of biopsy-confirmed non-alcoholic steatohepatitis, or NASH, and fibrosis.

CymaBay Therapeutics is focused on liver and other chronic diseases that have high unmet medical need. The company has received breakthrough therapy designation from the FDA, PRIority MEdicines status from the European Medicines Agency and orphan drug status in the U.S. and Europe for seladelpar, a first-in-class treatment for people with primary biliary cholangitis, or PBC.

Recent news on these stocks:

September 11

Plus Therapeutics announced that the company will present data from its ReSPECT-LM clinical trial evaluating the company’s lead radiotherapeutic, rhenium obisbemeda, for the treatment of leptomeningeal metastases at the Cancer Prevention & Research Institute of Texas Innovations in Cancer Prevention and Research Conference VI. The conference is taking place October 2-3, 2023, in Galveston, Tex. In August 2023, Plus Therapeutics received an advance payment of grant funds of approximately $1.9M, as planned, as part of its overall $17.6M award contract, which CPRIT executed in September 2022. The contract provides for funding from CPRIT over the three-year grant period starting on August 31, 2022, and follows the expected increase of development costs as the ReSPECT-LM clinical trial progresses to later stages.

CymaBay Therapeutics announced that it has commenced an underwritten public offering of an aggregate of $150M of its common stock and pre-funded warrants. All shares of common stock and pre-funded warrants to be sold in the offering will be offered by CymaBay. CymaBay anticipates using the net proceeds from the offering to fund ongoing development of seladelpar, including clinical trials targeting market expansion, and for working capital and general corporate purposes. Piper Sandler, Raymond James, Cantor and LifeSci Capital are acting as the joint book-running managers for the offering. BTIG is acting as the lead manager for the offering.

September 6

Viking Therapeutics announced the initiation of a Phase 2 clinical trial of VK2735, the company’s wholly-owned dual agonist of the glucagon-like peptide 1 and glucose-dependent insulinotropic polypeptide receptors. VK2735 is in development for the potential treatment of various metabolic disorders such as obesity. The Phase 2 VENTURE trial is a randomized, double-blind, placebo-controlled study that will evaluate the safety, tolerability, pharmacokinetics, and weight loss efficacy of four different doses of VK2735, administered subcutaneously, once weekly.

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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.