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: 

• Alkermes (ALKS), 279% surge in interest
• Cassava Sciences (SAVA), 99% surge in interest
• Editas Medicine (EDIT), 88% surge in interest
• Apellis Therapeutics (APLS), 84% surge in interest
• TG Therapeutics (TGTX), 73% surge in in terest
• Sarepta Therapeutics (SRPT), 59% surge in interest

Pipeline and key clinical candidates for these companies:

Alkermes is a fully-integrated, global biopharmaceutical company developing innovative medicines in the fields of neuroscience and oncology. The company has a portfolio of proprietary commercial products focused on alcohol dependence, opioid dependence, schizophrenia and bipolar I disorder, and a pipeline of product candidates in development for neurological disorders and cancer.

Cassava Sciences is a clinical-stage biotechnology company that says its mission is to detect and treat neurodegenerative diseases, such as Alzheimer’s disease. “Its novel science is based on stabilizing-but not removing-a critical protein in the brain. The company’s product candidates have not been approved by any regulatory authority, and their safety, efficacy or other desirable attributes have not been established,” Cassava has stated.

Editas Medicine is a clinical stage genome editing company focused on CRISPR/Cas9 and CRISPR/Cas12a genome editing systems with an aim to discover, develop, manufacture, and commercialize transformative, durable, precision genomic medicines for a broad class of diseases. Editas Medicine is the exclusive licensee of Broad Institute’s and Harvard University’s Cas9 patent estates and Broad Institute’s Cas12a patent estate for human medicines.

Apellis Pharmaceuticals says the company “ushered in the first new class of complement medicine in 15 years” with the approval of the first and only targeted C3 therapy. Apellis is advancing this science to “continually develop transformative medicines for people living with rare, retinal, and neurological diseases,” it stated.

TG Therapeutics is focused on the acquisition, development and commercialization of novel treatments for B-cell diseases. In addition to a research pipeline including several investigational medicines, TG has received approval from the FDA for Briumvi, for the treatment of adult patients with relapsing forms of multiple sclerosis, to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease.

Sarepta Therapeutics engineers precision genetic medicine for rare diseases. The company holds leadership positions in Duchenne muscular dystrophy, or DMD, and limb-girdle muscular dystrophies, or LGMDs, and currently has more than 40 programs in various stages of development. Sarepta’s pipeline is driven by its multi-platform Precision Genetic Medicine Engine in gene therapy, RNA and gene editing.

Recent news on these stocks:

October 25

Alkermes reported better-than-expected Q3 adjusted earnings and revenue. “With solid performance across our proprietary commercial portfolio, the successful settlement of the VIVITROL patent litigation, and progress toward completion of the separation of our oncology business, we have made significant strides to evolve the business into a pure-play neuroscience company with the potential to generate strong profitability and cash flow,” said Richard Pops, CEO. “Our presentation at this week’s World Sleep Congress of the first-in-human safety and tolerability data and initial proof-of-concept data for ALKS 2680, our investigational, orexin 2 receptor agonist for the treatment of narcolepsy, represents an important milestone for that development program. We look forward to sharing additional data from the phase 1 study and advancing ALKS 2680 into a planned phase 2 program next year.”

Cassava Sciences announced a potentially significant safety finding based on interim magnetic resonance imaging brain data from Alzheimer’s patients who are enrolled in a Phase 3 clinical trial of simufilam. The MRI data suggest simufilam is not associated with treatment-emergent amyloid-related imaging abnormalities, or ARIA. MRIs were all analyzed for ARIA by board-certified neuroradiologists. ARIA is a medical term used to describe a spectrum of brain MRI imaging abnormalities, such as edema and brain bleeds. ARIA is also a known risk factor for Alzheimer’s patients taking the class of drugs known as monoclonal antibodies directed against beta amyloid. In contrast to such class of drugs, simufilam is Cassava Sciences’ small-molecule drug candidate. Oral simufilam is currently in Phase 3 clinical testing in patients with Alzheimer’s disease dementia. The new safety finding is based on an independent, interim neuroradiological evaluation of brain MRIs taken at week 40 in a blinded sub-study of 180 Alzheimer’s patients enrolled in Cassava Sciences’ on-going 76-week Phase 3 clinical trial of simufilam in mild-to-moderate Alzheimer’s. Final MRI data is expected at the conclusion of this Phase 3 study. All Phase 3 clinical data remains blinded.

October 24

Citi analyst Samantha Semenkow upgraded Editas Medicine to Buy from Neutral with an $11 price target. The analyst also opened a “30-day positive catalyst watch” on the shares. Since early September, Editas shares have declined more than 30% in the absence of any fundamental changes to the company’s outlook, the analyst tells investors in a research note. The firm says as the current valuation shifts its view on the risk/reward more favorably. Citi sees potential for near-term share upside in two key catalysts through the end of the year: potential readthrough from the upcoming exa-cel FDA panel vote on October and Editas reporting updated EDIT-301 data by the end of 2023.

October 20

Apellis Pharmaceuticals announced that The Lancet published the positive 24-month results from the Phase 3 OAKS and DERBY studies evaluating SYFOVRE for geographic atrophy secondary to age-related macular degeneration. SYFOVRE is the only treatment approved for use beyond 12 months in GA, a chronic disease and leading cause of vision loss. In the publication, both every-other-month and monthly SYFOVRE showed a clinically meaningful reduction of GA lesion growth with increasing effects over time and a well-demonstrated safety profile in a broad population of more than 1,200 patients. “These 24-month data demonstrate that SYFOVRE is a clinically meaningful treatment for GA, and we are proud these results were published in one of the world’s most prestigious peer-reviewed journals,” said Caroline Baumal, M.D., chief medical officer, Apellis. “With SYFOVRE’s approval in the United States and five additional applications under review globally, we are working urgently to bring this important treatment to patients in need worldwide.”

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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.