These names in the biotech sector are seeing a substantial increase in search activity today, as determined by InvestingChannel. They include:
- Savara (SVRA), 465% surge in interest
- Rigel Pharmaceuticals (RIGL), 447% surge in interest
- Iovance Biotherapeutics (IOVA), 441% surge in interest
- Leap Therapeutics (LPTX), 273% surge in interest
- Ayala Pharmaceuticals (ADXS), 259% surge in interest
Pipeline and key clinical candidates for these companies:
Savara is a clinical stage biopharmaceutical company focused on rare respiratory diseases. Its lead program, molgramostim nebulizer solution, is an inhaled granulocyte-macrophage colony-stimulating factor in Phase 3 development for autoimmune pulmonary alveolar proteinosis, or aPAP.
Rigel Pharmaceuticals is dedicated to discovering, developing and providing novel small molecule drugs that significantly improve the lives of patients with hematologic disorders, cancer, and rare immune diseases. Rezlidhia is indicated for the treatment of adult patients with relapsed or refractory acute myeloid leukemia, or AML, with a susceptible isocitrate dehydrogenase-1 mutation as detected by an FDA-approved test.
Iovance Biotherapeutics is focused on developing and delivering tumor infiltrating lymphocyte, or TIL, therapies for patients with cancer. Its lead late-stage TIL product candidate, lifileucel for metastatic melanoma, "has the potential to become the first approved one-time cell therapy for a solid tumor cancer," said the company, adding that its TIL platform has "demonstrated promising clinical data across multiple solid tumors."
Leap Therapeutics is focused on developing targeted and immuno-oncology therapeutics. Leap’s most advanced clinical candidate, DKN-01, is a humanized monoclonal antibody targeting the Dickkopf-1 protein. DKN-01 is being developed in patients with esophagogastric, gynecologic, and colorectal cancers. Leap has entered into a strategic collaboration with BeiGene (BGNE) for the rights to develop DKN-01 in Asia excluding Japan, Australia, and New Zealand.
Ayala Pharmaceuticals is a clinical-stage oncology company primarily focused on developing and commercializing small molecule therapeutics for people living with rare tumors and aggressive cancers and is also developing proprietary Lm-based antigen delivery products for patients suffering from more common cancers. The company’s lead candidates under development are the oral gamma secretase inhibitor, AL102, for desmoid tumors; ADXS-504, a Lm-based therapy for early-stage prostate cancer; and the intravenous gamma secretase inhibitor, AL101, for adenoid cystic carcinoma. AL102 has received Fast Track Designation from the U.S. FDA and is currently in the Phase 3 segment of a pivotal study for patients with desmoid tumors.
Recent news on these stocks:
May 16
Jefferies upgraded Savara to Buy from Hold with a price target of $4, up from $2, after assuming coverage of the name. Although Molgradex’s first Phase 3 IMPALA study for aPAP, a rare lung disease for which there are no approved therapies, failed back in 2019, the firm still sees "a fair 60-65% chance" the drug can generate positive data from a new pivotal study, the analyst tells investors. A $300M-plus peak sales estimate multiplied by a three times multiple and those estimated odds of success yields a $600M valuation, or 100% upside potential given the company’s current $300M market cap, the analyst noted.
Piper Sandler is pleased that on the Q1 earnings call Savara tightened guidance on full enrollment for the Phase 3 IMPALA-2 study with molgramostim in autoimmune pulmonary alveolar proteinosis for June. Importantly, the company was able to stay on track with enrollment and topline despite COVID and other hurdles since the study start, the analyst tells investors in a research note. Piper believes the stock will trade up heading into the topline data, "representing an ideal buying opportunity." It keeps an Overweight rating on Savara with a $7 price target.
May 15
Leap Therapeutics reported Q1 EPS of (32c) against a consensus of (10c). "We continued to execute extremely well on our DKN-01 program during the first quarter of 2023 with the completion of enrollment in Part A of the DeFianCe second-line CRC study and excellent progress in enrolling our randomized, controlled Part C of the DisTinGuish first-line GEA study," said Douglas Onsi, President and CEO of Leap. "We look forward to presenting long-term follow-up data from Part A of the DisTinGuish study at ASCO in June, including updated response and overall survival data. With the acquisition of Flame Biosciences at the beginning of the year, we are in a strong financial position to develop our pipeline of personalized medicines for cancer patients."
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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.
Published first on TheFly
