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: 

• Aptevo Therapeutics (APVO), 126% surge in interest
• Fulcrum Therapeutics (FULC), 118% surge in interest
• Xeris Pharmaceuticals (XERS), 95% surge in interest
• Tracon Pharma (TCON), 94% surge in interest
• Adaptimmune (ADAP), 90% surge in interest

Pipeline and key clinical candidates for these companies:

Aptevo Therapeutics is focused on developing novel immunotherapies for the treatment of cancer. APVO436 is a bispecific CD3xCD123 ADAPTIR currently in Phase 1b development in a multi-center, multi-cohort trial designed to evaluate safety, tolerability and efficacy in combination therapy and monotherapy for patients with acute myeloid leukemia, or AML. The company plans to initiate a Phase 2 trial, evaluating APVO436 in combination with venetoclax and azacitidine in patients with AML who are venetoclax treatment naive, in 2H23.

Fulcrum Therapeutics is a clinical-stage biopharmaceutical company focused on developing small molecules to improve the lives of patients with genetically defined rare diseases in areas of high unmet medical need. Fulcrum’s two lead programs in clinical development are losmapimod, a small molecule in development for the treatment of facioscapulohumeral muscular dystrophy, and pociredir, a small molecule designed to increase expression of fetal hemoglobin and in development for the treatment of sickle cell disease.

Xeris is committed to developing and commercializing “differentiated and innovative products across a range of therapies,” the company states. Xeris has three commercially available products: Gvoke, a ready-to-use liquid glucagon for the treatment of severe hypoglycemia; Keveyis, a proven therapy for primary periodic paralysis; and Recorlev for the treatment of endogenous Cushing’s syndrome. Xeris has a pipeline of development and partnered programs using its formulation sciences, XeriSol and XeriJect, the company adds.

Tracon is a clinical-stage biopharmaceutical company utilizing a cost-efficient, CRO-independent, product development platform to advance its pipeline of novel targeted cancer therapeutics and 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; and TRC102, a Phase 2 small molecule drug candidate for the treatment of lung cancer.

Adaptimmune says the company’s “drive is to redefine the treatment of some of the most challenging-to-treat solid tumors.” The company’s proprietary cell therapy platform engineers a patient’s own cells to fight cancer. The company’s robust pipeline of cell therapies has the potential to significantly improve the patient’s treatment experience.

Recent news on these stocks:

March 7

Alligator Bioscience and Aptevo Therapeutics announced interim data from the dose escalation phase of their Phase 1 trial evaluating ALG.APV-527 for the treatment of solid tumors likely to express the tumor antigen 5T4. The multi-center, dose escalation trial is now more than 50% enrolled, and preliminary results include: Treatment was overall well-tolerated, and a maximum tolerated dose has not yet been determined, dose-escalation in higher-dose cohorts is ongoing; ALG.APV-527 could be measured in all patients with plasma concentration of ALG.APV-527 consistent with the administered dose; Biomarker analyses indicate the expression of the targets in tumor biopsies and confirm biological activity of ALG.APV-527.

JonesResearch upgraded Adaptimmune to Buy from Hold with a $3 price target. Adaptimmune’s Q4 earnings call provided incremental updates on their clinical programs as well as preparations for the potential commercial launch of afami-cel in Q3 of 2024, notes the analyst, who has raised the trading multiple given the improving biotech sector and added approximately $115M in projected milestones and tax credits received and anticipated in the firm’s estimates.

March 6

Xeris Biopharma reported Q4 earnings that were in line with consensus estimates, while revenue beat Wall Street expectations. Looking ahead, the company provided FY24 revenue guidance, with its midpoint slightly lower than consensus estimates.

March 5

Tracon Pharmaceuticals reported better-than-expected Q4 earnings and revenue. After the report, H.C. Wainwright lowered the firm’s price target on Tracon to $6 from $7, with the firm citing dilution from the increased share count for the target drop.

February 27

Fulcrum Therapeutics reported better-than-expected earnings and revenue for Q4. Following the report, H.C. Wainwright and Piper Sandler both increased their price targets on the stock.

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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.