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: 

• ChromaDex (CDXC), 520% surge in interest
• Pieris Pharma (PIRS), 325% surge in interest
• Actinium Pharmaceuticals (ATNM), 102% surge in interest
• Alpine Immune Sciences (ALPN), 87% surge in interest
• Akebia Therapeutics (AKBA), 35% surge in interest

Pipeline and key clinical candidates for these companies:

ChromaDex Corporation is a global bioscience company that says it is “dedicated to healthy aging.” The ChromaDex team is researching nicotinamide adenine dinucleotide, or NAD+, an essential coenzyme that is a key regulator of cellular metabolism and is found in every cell of the human body. ChromaDex is the “innovator behind the NAD+ precursor nicotinamide riboside,” commercialized as the flagship ingredient Niagen,” the company states.

Pieris is a clinical-stage biotechnology company that says it “combines leading protein engineering capabilities and deep understanding into molecular drivers of disease to develop medicines that drive local biology to produce superior clinical outcomes for patients.” Its pipeline has historically focused on inhalable Anticalin proteins to treat respiratory diseases and locally-activated bispecifics for immuno-oncology.

Actinium develops targeted radiotherapies to meaningfully improve survival for people who have failed existing oncology therapies. Advanced pipeline candidates Iomab-B, an induction and conditioning agent prior to bone marrow transplant, and Actimab-A, a therapeutic agent, have demonstrated potential to extend survival outcomes for people with relapsed and refractory acute myeloid leukemia. Actinium plans to advance Iomab-B for other blood cancers and next generation conditioning candidate Iomab-ACT to improve cell and gene therapy outcomes.

Alpine Immune Sciences says it is “committed to leading a new wave of immune therapeutics.” Alpine is seeking to create first- or best-in-class multifunctional immunotherapies via unique protein engineering technologies to improve patients’ lives, the company states. Alpine has entered into strategic collaborations with global biopharmaceutical companies and has a diverse pipeline of clinical and preclinical candidates in development, the company adds.

Akebia Therapeutics is a fully integrated biopharmaceutical company that says its purpose is “to better the lives of people impacted by kidney disease.”

Recent news on these stocks:

March 19

H.C. Wainwright said acquisitions in the radiopharma sector, including AstraZeneca’s (AZN) deal today to buy its partner in radiopharmaceuticals, Fusion Pharma (FUSN), for an upfront value of $2.0B in cash underscores Actinium Pharmaceuticals’ potential and business development prospects. A deal of this size underscores the continued interest in the radiopharmaceutical space as a whole, said the analyst, who sees a positive read-through for Actinium in particular. Actinium is well positioned “for a similar takeout route,” contended H.C. Wainwright. The firm has a Buy rating on the shares with a $50 price target.

Maxim raised the firm’s price target on Actinium Pharmaceuticals to $30 from $20 and kept a Buy rating on the shares following another Ac-225 acquisition with AstraZeneca to acquire Fusion Pharma. The firm noted that the acquisition comes amidst building momentum in the radiopharma space, in particular among alpha emitters, including the December acquisition of RayzeBio (RYZB) by Bristol Meyers (BMY) for $4.1B for its Ac-225 pipeline. Maxim also highlights Lilly (LLY) acquiring POINT Biopharma in October 2023 for $1.4B, which was centered around its pipeline of targeted beta – Lu-177 – and alpha – Ac-225 – emitting radio-pharmaceuticals. The Ac-225 focused M&A activity, which given the small number of companies in the space, places a potential “scarcity value” on Actinium, the firm argued.

March 18

Alpine Immune Sciences reported FY23 EPS (64c), consensus ($1.10). As of December 31, 2023, Alpine’s cash and investments totaled $368.2M compared to $273.4M as of December 31, 2022. The company anticipates its current cash and investments are sufficient to fund planned operations into 2026. CEO Mitchell H. Gold stated: “2023 was a transformational year for Alpine, with initial IgA nephropathy data presented at the American Society of Nephrology Kidney Week 2023 suggesting a best-in-class profile for povetacicept, our next-generation dual BAFF/APRIL inhibitor. With our encouraging data set in IgAN, convenient once monthly dosing regimen, and strong balance sheet, we are rapidly advancing development of povetacicept as a potentially meaningful new therapeutic option for patients living with IgAN, systemic lupus erythematosus, and multiple other autoantibody-related diseases. Looking ahead, Alpine is well positioned for a year of meaningful catalysts, with multiple updates for povetacicept in IgAN and other indications, and the planned initiation of RAINIER, a pivotal phase 3 study of povetacicept in IgAN, and DENALI, a phase 2 study of povetacicept in SLE. In addition to updates on our clinical studies, we look forward to sharing translational data that further supports the best-in-class potential of povetacicept in multiple inflammatory diseases.”

March 14

Akebia reported Q4 EPS of 0c, consensus (4c), and reported Q4 revenue of $56.2M, consensus $55.39M. “We are eagerly awaiting the PDUFA date for vadadustat, now within weeks, and we believe the progress we have made over the past 12 months has positioned our team to successfully launch vadadustat in the U.S., if approved,” said CEO John Butler. “A U.S. approval for vadadustat will be transformational for Akebia and a significant step toward our goal of bettering the lives of people impacted by kidney disease. Our team remains dedicated to delivering an innovative oral therapeutic treatment for anemia due to chronic kidney disease for patients on dialysis. We are approaching a potential U.S. launch of vadadustat from an extremely strong financial position. We expect Auryxia net product revenue growth in 2024, with a quarterly revenue cadence that is similar to 2023, we executed a term loan with BlackRock and implemented other financial strategies that together we believe will support our business operations for at least two years if vadadustat is approved. As we move forward, we will continue to carefully manage expenses, while investing appropriately for a successful potential launch of vadadustat.”

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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.