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: 

• Biohaven Pharmaceutical (BHVN), 104% surge in interest
• Heron Therapeutics (HRTX), 94% surge in interest
• Arca Biopharma (ABIO), 51% surge in interest
• Adma Biologics (ADMA), 38% surge in interest
• Corcept Therapeutics (CORT), 37% surge in interest
• Madrigal Pharmaceuticals (MDGL), 36% surge in interest

Pipeline and key clinical candidates for these companies:

Biohaven is a biopharmaceutical company focused on the discovery, development, and commercialization of life-changing treatments in key therapeutic areas, including immunology, neuroscience, and oncology. The company is advancing its portfolio of therapeutics, leveraging its proven drug development experience and multiple proprietary drug development platforms. Biohaven’s clinical and preclinical programs include Kv7 ion channel modulation for epilepsy and mood disorders; extracellular protein degradation for immunological diseases; TRPM3 antagonism for migraine and neuropathic pain; TYK2/JAK1 inhibition for neuroinflammatory disorders; glutamate modulation for OCD and SCA; myostatin inhibition for neuromuscular and metabolic diseases, including SMA and obesity; and antibody recruiting, bispecific molecules and antibody drug conjugates for cancer.

Heron Therapeutics is a commercial-stage biotechnology company focused on improving the lives of patients by developing best-in-class treatments to address some of the most important unmet patient needs. Heron is developing novel, patient-focused solutions that apply its innovative science and technologies to already-approved pharmacological agents for patients suffering from pain or cancer.

Arca biopharma is dedicated to developing genetically and other targeted therapies for
cardiovascular diseases through a precision medicine approach to drug development.

Adma Biologics is an end-to-end commercial biopharmaceutical company dedicated to manufacturing, marketing and developing specialty biologics for the treatment of immunodeficient patients at risk for infection and others at risk for certain infectious diseases. Adma currently manufactures and markets three United States Food and Drug Administration-approved plasma-derived biologics for the treatment of immune deficiencies and the prevention of certain infectious diseases: BIVIGAM for the treatment of primary humoral immunodeficiency; ASCENIV for the treatment of PI; and NABI-HB to provide enhanced immunity against the hepatitis B virus. Through its Adma BioCenters subsidiary, Adma also operates as an FDA-approved source plasma collector in the U.S., which provides its blood plasma for the manufacture of its products.

For over 25 years, Corcept‘s focus on cortisol modulation and its potential to treat patients across a wide variety of serious disorders has led to the discovery of more than 1,000 proprietary selective cortisol modulators. Corcept’s advanced clinical trials are being conducted in patients with hypercortisolism, solid tumors, amyotrophic lateral sclerosis and non-alcoholic steatohepatitis. In February 2012, the company introduced Korlym, the first medication approved by the U.S. Food and Drug Administration for the treatment of patients with Cushing’s syndrome.

Madrigal is a biopharmaceutical company pursuing novel therapeutics for non-alcoholic steatohepatitis, also known as metabolic dysfunction associated steatohepatitis. Madrigal has advanced its once daily, oral, liver-directed thyroid hormone receptor β-selective agonist, into multiple Phase 3 clinical trials in NASH. Based on Phase 3 results reported to date, the U.S. FDA granted accelerated approval for the therapy for the treatment of adults with NASH with moderate to advanced liver fibrosis.

Recent news on these stocks:

April 23rd

UBS raised the firm’s price target on Biohaven to $60 from $59, while keeping a Buy rating on the shares after hosting meetings with management. The stock’s 28% selloff since April 15 represents an “attractive opportunity,” the firm tells investors in a research note. UBS sees an attractive risk/reward into the Phase 1 degrader data on May 29. A key opinion leader viewed Biohaven’s degrader platform as an elegant approach to various disease modalities, says the firm. UBS says the stock’s bear case is overdone.

April 22nd

Corcept Therapeutics announced results from the open-label portion of the pivotal Phase 3 GRACE trial of its proprietary selective cortisol modulator relacorilant in patients with all etiologies of endogenous Cushing’s syndrome. GRACE has two parts. GRACE’s primary endpoint is maintenance of blood pressure control in the “randomized withdrawal” phase, with maintenance of glycemic control as the key secondary endpoint. Other key secondary and exploratory endpoints in the randomized withdrawal phase include changes in weight, waist circumference, cognitive impairment and Cushing’s Quality of Life score. Patients in the open-label phase exhibited clinically meaningful and statistically significant improvements in hypertension, hyperglycemia and other key secondary and exploratory endpoints.

The drug was well-tolerated, consistent with relacorilant’s known safety profile. Rapid and sustained improvements in systolic blood pressure and diastolic blood pressure were observed in all patients with hypertension, with an improvement in mean SBP of 7.9 mm Hg and mean DBP of 5.4 mm Hg at 22 weeks. Clinically meaningful and statistically significant improvements in glucose metabolism were observed for all patients with hyperglycemia. Statistically significant improvements in other symptoms of Cushing’s syndrome, including body weight, waist circumference, cognition and Cushing’s Quality of Life score, were observed in all patients during the open-label phase of the study.

BofA initiated coverage of Madrigal Pharmaceuticals on Monday with an Underperform rating and $150 price target. The commercial stage company has received the first FDA approval for fatty liver disease, also known as MASH, though investors have “largely moved past Rezdiffra’s best-case scenario FDA approval” and payer pushback given Rezdiffra’s $47,000 annual price tag could prompt a slow launch, perpetuating a “short the launch thesis” and providing further downside potential for shares, the firm argues.

JMP Securities says United Healthcare (UNH) is not requiring step therapy or prior authorization for Madrigal Pharmaceuticals’ Rezdiffra. Rezdiffra became available on April 9 and United has updated its Pharmacy Benefit Programs Drug List to cover Rezdiffra effective May 1 without requiring step therapy or prior authorization which should ease access to the drug from one of the largest insurers, the firm tells investors in a research note. JMP models 2024 revenue of $97M versus the consensus of $89M, as it expects demand will be high based on a recent physician survey. Some coverage determinations may not be as favorable as United’s, says the firm, which reiterates an Outperform rating on Madrigal with a $397 price target.

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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.