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: 

• Summit Therapeutics (SMMT), 172% surge in interest
• Evelo Biosciences (EVLO), 132% surge in interest
• BridgeBio Pharma (BBIO), 88% surge in interest
• Leap Therapeutics (LPTX), 75% surge in interest
• Biohaven (BHVN), 72% surge in interest 

Pipeline and key clinical candidates for these companies:

Summit Therapeutics is initiating development activities for SMT112 and will do so first in NSCLC indications. Summit plans to start treating patients in clinical studies by the second quarter of 2023.

Evelo Biosciences is a clinical stage biotechnology company developing a novel platform of orally delivered medicines acting on the small intestinal axis, SINTAX, with systemic therapeutic effects. The company’s product candidates are pharmaceutical preparations of single strains of microbes or their extracellular vesicles, or EVs. Evelo initially is developing EDP1815 in psoriasis and atopic dermatitis and EDP2939 in psoriasis. “If shown to be effective in inflammatory disease mediated by the Th1, Th2 or Th17 inflammatory pathways, these same investigational medicines could be effective in additional inflammatory diseases, such as psoriatic and other forms of arthritis, asthma, allergy, and inflammatory bowel disease,” the company says.

BridgeBio Pharma is a commercial-stage biopharmaceutical company founded to discover, create, test and deliver transformative medicines to treat patients who suffer from genetic diseases and cancers with clear genetic drivers. BridgeBio’s pipeline of development programs ranges from early science to advanced clinical trials, the company has stated.

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.

Biohaven is focused on the discovery, development and commercialization of therapies for people with neurological and neuropsychiatric diseases, including rare disorders. Biohaven’s portfolio of early- and late-stage product candidates also includes discovery research programs focused on TRPM3 channel activation for neuropathic pain and CD-38 antibody recruiting, bispecific molecules for multiple myeloma.

Recent news on these stocks:

June 20

BridgeBio Pharma presented updated six month results from Cohort 5 in PROPEL2, a Phase 2 trial of the investigational therapy infigratinib in children with achondroplasia, demonstrating a continued potentially best-in-class efficacy and safety profile at the Endocrine Society, ENDO, 2023 Annual Conference. Infigratinib is an oral small molecule designed to inhibit FGFR3 and target achondroplasia at its source. The updated six month results for 12 patients in Cohort 5 include: The mean increase from baseline in AHV is significant and robust at +3.38 cm/year; 83% of the children were responders, based on the criteria defined for the study with a change from baseline AHV of at least 25%, with a mean of +4.08 cm/year; Preliminary data suggests the Cohort 5 dose level may be having a positive effect on the upper and lower body segment ratio; Changes in linear growth are supported by an increase in collagen X marker, an independent, real-time biomarker of bone growth, supporting a true biologic effect from infigratinib; This increase in growth translated into an increase in z-score of +0.29 standard deviation scores compared to achondroplasia growth charts; Treatment has been well tolerated, with no serious adverse events, or treatment emergent AEs that led to treatment discontinuation. In addition to the Cohort 5 data being shared, the Phase 2 data from the previous four cohorts was also discussed during the presentation. Treatment in all cohorts has been well tolerated with no SAEs or any AEs requiring treatment discontinuation. The AEs most frequently reported are considered common conditions in the pediatric population, particularly in children with achondroplasia. The Phase 2 trial was designed to identify the dose of infigratinib that will be explored in the Phase 3 trial. Based on the positive results to date, BridgeBio is underway in enrolling children in the run-in for a Phase 3 trial.

Leap Therapeutics announced that it will effect a 10-for-1 reverse stock split of its issued and outstanding common stock, effective on June 20. Leap expects its common stock to begin trading on a split-adjusted basis on the Nasdaq Capital Market as of the commencement of trading on June 21.

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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.