Biotech Alert: Searches spiking for these stocks today

Stay ahead of biotech stocks seeing a surge in interest from retail and financial professional investors with this exclusive recap from The Fly

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

• Summit Therapeutics (SMMT), 5,310% surge in interest
• Checkpoint Therapeutics (CKPT), 1,739% surge in interest
• Biocardia (BCDA), 1,552% surge in interest
• Gamida Cell (GMDA), 549% surge in interest
• Gossamer Bio (GOSS), 499% surge in interest

Pipeline and key clinical candidates for these companies:

Summit Therapeutics is initiating development activities for SMT112 and will do so first in NSCLC indications. Summit plans to start treating patients in clinical studies by the second quarter of 2023.

Checkpoint Therapeutics is focused on the acquisition, development and commercialization of novel treatments for patients with solid tumor cancers. Checkpoint is evaluating its lead antibody product candidate, cosibelimab in an ongoing global, open-label, multicohort Phase 1 clinical trial in checkpoint therapy-naïve patients with selected recurrent or metastatic cancers, including ongoing cohorts in locally advanced and metastatic cutaneous squamous cell carcinoma, or “cSCC,” intended to support one or more applications for marketing approval. Checkpoint is evaluating its lead small-molecule, targeted anti-cancer agent, olafertinib, formerly CK-101, as a potential new treatment for patients with EGFR mutation-positive non-small cell lung cancer.

BioCardia is a developer of cell and cell-derived therapies for cardiovascular and pulmonary disease. The company has two biotherapeutic platforms, CardiAMP autologous bone marrow-derived mononuclear cell therapy for cardiovascular indications and the NK1R+ allogeneic bone marrow-derived mesenchymal stem cell therapies for cardiovascular and pulmonary diseases. 

Gamida Cell is at work on an immunotherapy pipeline of potentially curative cell therapy candidates for patients with solid tumor and blood cancers and other serious blood diseases. The company applies a proprietary expansion platform leveraging the properties of NAM to allogeneic cell sources including umbilical cord blood-derived cells and NK cells to create therapy candidates with potential to redefine standards of care. These include omidubicel, an investigational product with potential as a life-saving alternative for patients in need of bone marrow transplant, and a line of modified and unmodified NAM-enabled NK cells targeted at solid tumor and hematological malignancies.

Gossamer Bio is a clinical-stage biopharmaceutical company focused on discovering, acquiring, developing and commercializing therapeutics in the disease areas of immunology, inflammation and oncology. Its goal is "to be an industry leader in each of these therapeutic areas and to enhance and extend the lives of patients suffering from such diseases," the company states.

Recent news on these stocks:

December 8

H.C. Wainwright analyst Patrick Trucchio lowered the firm’s price target on Gossamer Bio to $5 from $25 and keeps a Buy rating on the shares. While TORREY results were disappointing relative to high expectations, a path to potential approval in pulmonary hypertension remains possible, Trucchio told investors in a research note.

December 6

Summit Therapeutics announced a definitive agreement of its partnership with Akeso to in-license its breakthrough bispecific antibody, ivonescimab. The agreement supports Summit’s mission of developing and commercializing groundbreaking oncology pipeline products aimed at improving the quality of life of patients with serious unmet medical needs. Ivonescimab, known as AK112 in China and Australia, and also as SMT112 in the United States, Canada, Europe, and Japan, is a novel, potential first-in-class bispecific antibody combining the power of immunotherapy via a blockade of PD-1 with the anti-angiogenesis benefits of an anti-VEGF into a single molecule. The total potential deal value is $5.0B, as Akeso will be eligible to receive regulatory and commercial milestones of up to $4.5B. In addition, Akeso will be eligible to receive low double-digit royalties on net sales.

BioCardia announced FDA approval of its Investigational New Drug IND application to initiate a first-in-human Phase I/II clinical trial of its Neurokinin-1 receptor positive NK1R+ allogeneic human mesenchymal stem cell MSC therapy for the treatment of patients with ischemic heart failure.

December 5

Checkpoint Therapeutics announced that it will effect a 1-for-10 reverse stock split of its issued and outstanding common stock. Checkpoint expects its common stock to begin trading on a split-adjusted basis on the Nasdaq Capital Market as of the commencement of trading on December 6. The reverse stock split was approved on November 3 by Checkpoint’s board of directors and stockholders representing approximately 58% of the voting power of Checkpoint’s outstanding capital stock. The reverse stock split is intended to improve the marketability and liquidity of Checkpoint’s common stock and to remain in compliance with Nasdaq’s continued listing requirements.

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 15-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.

Keywords: biotech, biotech sector, biotech alert, investingchannel, XBI, SPDR S&P Biotech ETF