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Biotech Alert: Searches spiking for these stocks today
The Fly

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:

  • Avidity Biosciences (RNA), 14,100% surge in interest
  • Tracon Pharmaceuticals (TCON), 1,648% surge in interest
  • Champions Oncology (CSBR), 707% surge in interest
  • VBL Therapeutics (VBLT), 281% surge in interest
  • Wave Life Sciences (WVE), 208% surge in interest

Pipeline and key clinical candidates for these companies:

Avidity Biosciences‘  proprietary AOCs – Antibody Oligonucleotide Conjugates –  are designed to combine the specificity of monoclonal antibodies with the precision of oligonucleotide therapies to target the root cause of diseases previously untreatable with RNA therapeutics, the company says. Avidity’s advancing and expanding pipeline has three programs in clinical development. AOC 1001 is designed to treat people with myotonic dystrophy type 1 and is currently in Phase 1/2 development with the ongoing MARINA and MARINA-OLE trials. AOC 1020 is designed to treat people living with facioscapulohumeral muscular dystrophy and is currently in Phase 1/2 development with the FORTITUDE trial. AOC 1044 is designed for people with Duchenne muscular dystrophy mutations amenable to exon 44 skipping and is currently in Phase 1/2 development with the EXPLORE44 trial.

Tracon is advancing a pipeline of novel targeted cancer therapeutics and seeks to partner with other life science companies. The company’s clinical-stage pipeline includes: Envafolimab, a PD-L1 single-domain antibody given by rapid subcutaneous injection that is being studied in the pivotal ENVASARC trial for sarcoma; YH001, a potential best-in-class CTLA-4 antibody in Phase 1 development; TRC102, a Phase 2 small molecule drug candidate for the treatment of lung cancer; and TJ004309, a CD73 antibody in Phase 1 development for the treatment of advanced solid tumors. Tracon has said it believes it "can serve as a solution for companies without clinical and commercial capabilities in the United States or who wish to become CRO-independent."

Champions Oncology is a technology-driven research organization that develops therapeutics against cancer targets, offers research software as a service, and provides end-to-end R&D services to biopharma organizations. Champions Oncology is "actively engaged in the transformation of drug discovery through a novel approach of pharmaco-pheno-multiomic integration," the company says.

VBL Therapeutics is developing targeted medicines for immune-inflammatory diseases. VBL’s lead immunology product candidate VB-601 is a targeted antibody for immune-inflammatory applications that has shown disease-modifying activity across multiple preclinical models including multiple sclerosis, rheumatoid arthritis and inflammatory bowel disease. At present, VBL is evaluating options for development of its assets, which may include partnering and other strategic options.

Wave Life Sciences is a clinical-stage genetic medicines company that says it "aspires to develop best-in-class medicines across multiple therapeutic modalities" using PRISM, the company’s proprietary discovery and drug development platform that enables the precise design, optimization, and production of stereopure oligonucleotides. WVE-006 is a PN chemistry-modified GalNAc-conjugated investigational development candidate for the treatment of alpha-1 antitrypsin deficiency, designed to correct the mutant SERPINA1 Z allele transcript to address both liver and lung manifestations of disease. WVE-006 is a potential first-in-class RNA editing candidate and the most advanced program currently in development using an oligonucleotide to harness an endogenous enzyme for editing. Wave expects to submit clinical trial applications for WVE-006 in 2023.

Recent news on these stocks:

December 15

Avidity Biosciences announced that it intends to offer and sell, subject to market and other conditions, $150M of shares of its common stock in an underwritten public offering. Avidity intends to use the net proceeds from this offering, together with its existing cash, cash equivalents and marketable securities: to fund the research and development of its development programs, to continue development work associated with advancing its AOC platform and for working capital and general corporate purposes. Cowen, Evercore ISI and Wells Fargo Securities are acting as joint bookrunning managers for the offering. Needham & Company and Raymond James are acting as co-lead managers for the offering.


December 14

Tracon Pharmaceuticals announced the IDMC for the ongoing ENVASARC Phase 2 pivotal trial recommended continued accrual as planned in both cohorts: single agent envafolimab and envafolimab in combination with Yervoy. The IDMC reviewed interim safety and efficacy data from 18 patients enrolled into each cohort who completed a minimum of 12 weeks of efficacy evaluations. The double-digit ORR assessed by blinded independent central review in each cohort more than satisfied the prespecified futility rule. Envafolimab monotherapy and in combination with Yervoy was well tolerated, with only a single related serious adverse event reported in 36 patients. Responses were noted in patients regardless of weight at the 600 mg dose of envafolimab that was instituted following the previous IDMC review of interim safety and efficacy data from patients in the ENVASARC trial treated at the 300 mg dose of envafolimab.


December 13

Wave Life Sciences and GSK (GSK) announced a strategic collaboration to advance oligonucleotide therapeutics, including Wave’s preclinical RNA editing program targeting alpha-1 antitrypsin deficiency, WVE-006. The discovery collaboration has an initial four-year research term.


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

Published first on TheFly

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