The Daily Biotech Pulse: ASCO Presentations Begin, Altimmune Pops On Insider Buying, Immutep Gets R&D Grant

Here's a roundup of top developments in the biotech space over the last 24 hours.

Scaling The Peaks

(Biotech Stocks Hitting 52-week Highs May 28)

• ADC Therapeutics SA ADCT (IPOed May 15)
• Aerpio Pharmaceuticals Inc ARPO( announced a collaboration study for razuprotafib in COVID-19 treatment)
• Aileron Therapeutics Inc ALRN
• Arca Biopharma Inc ABIO ( reacted to its planned foray into COVID-19 treatment)
• argenx SE – ADR ARGX
• Bio-Rad Laboratories, Inc. BIO
• BioSpecifics Technologies Corp. BSTC
• ChemoCentryx Inc CCXI
• GENMAB A/S/S ADR GMAB(announced positive topline Phase 3 data for daratumumab in light-chain amyloidosis)
• Imara Inc NASDAQ: (IMRA)
• Liquidia Technologies Inc LQDA
• Mersana Therapeutics Inc MRSN
• Protagonist Therapeutics Inc PTGX
• Qiagen NV QGEN
• Tenax Therapeutics Inc TENX
• Turning Point Therapeutics Inc TPTX
• Vermillion, Inc. VRML

Down In The Dumps

(Biotech Stocks Hitting 52-week Lows May 28)

• Zafgen Inc ZFGN

Stocks In Focus

Karyopharm to Present Positive Selinexor Data In Multiple Myeloma Patients At ASCO

Karyopharm Therapeutics Inc KPTI announced detailed results from the pivotal Phase 3 BOSTON study that evaluated once-weekly selinexor in combination with once-weekly Velcade and low-dose dexamethasone, or SVd, compared to the standard twice-weekly Velcade plus low-dose dexamethasone, or Vd, in second-line to fourth-line setting in multiple myeloma patients. The data is to be presented at the ASCO 2020 Virtual Scientific Program.

The SVd arm, according to the company, showed a statistically significant increase of 47% in median progression-free survival compared to the Vd arm. The overall response rate was 76.4% for the SVd arm compared to 62.3% for the Vd arm.

The stock rose 7.71% to $20.25 in after-hours trading.

Eisai, Merck Announce ASCO Presentations

Eisai Co., Ltd ESALY and Merck & Co., Inc. MRK said results from two trials evaluating the former's Lenvima, plus the latter's anti-PD-1 therapy Keytruda in patients with unresectable hepatocellular carcinoma, or HCC, with no prior systemic therapy and patients with metastatic clear cell renal cell carcinoma, or ccRCC, who progressed following immune checkpoint inhibitor therapy, respectively, showed tumor response.

The data is to be presented at the ASCO Virtual Scientific Program.

Separately, Merck said a Phase 3 trial, dubbed KEYNOTE-177, evaluating Keytruda for the first-line treatment of patients with microsatellite instability-high, or MSI-H, or mismatch repair deficient, or dMMR, unresectable or metastatic colorectal cancer showed Keytruda significantly reduced the risk of disease progression or death by 40%, with a median progression-free survival of 16.5 months compared with 8.2 months for patients treated with chemotherapy, a current standard of care.

Merck said the data is scheduled to be presented Sunday in the ASCO meeting.

Altimmune Shares Rally On Insider Buying

Altimmune Inc ALT shares were rallying after Venrock Healthcare Capital Partners III filed with the SEC in Form 4 a series of purchases made over this week that has taken its holdings to 3 million shares. A total of 1.304 million shares were accumulated over the week.

Immutep Gets $2.41M In R&D Tax Incentive From French Government

IMMUTEP LTD/S ADR IMMP said it has received a 2.174-million euro or $2.41 million, R&D tax incentive payment in cash from the French government. The tax credit is a French government tax incentive by which French companies conducting research and development activities in Europe can be reimbursed 30% of their eligible expenditure.

The funds will be used to support the ongoing and planned global clinical development of eftilagimod alpha and the preclinical development of IMP761, the company said.

In after-hours trading, the stock added 2.40% to $1.28.

Roche's Cancer Drug Gets Positive European Medicines Agency Committee Recommendation

Roche Holdings AG RHHBY said the European Medicines Agency's Committee for Medicinal Products for Human Use has adopted a positive opinion under conditional marketing authorization for Rozlytrek for the treatment of adult and pediatric patients 12 years of age and older with solid tumors expressing a neurotrophic tyrosine receptor kinase gene fusion. The CHMP has also recommended Rozlytrek for the treatment of adults with ROS1-positive, advanced non-small cell lung cancer not previously treated with ROS1 inhibitors.

Offerings

Marinus Pharmaceuticals Inc MRNS priced its underwritten public offering of 16 million shares at $2.50 per share, for generating gross proceeds of about $40 million. The company expects the offering to close on or about June 2.

The stock slid 8.21% to $2.57 in after-hours trading.

On The Radar

Several companies are scheduled to present data on their pipeline assets in the ASCO 2020 Annual Meeting Virtual Scientific Program. Some of the companies presenting Friday include:

• Arvinas Inc ARVN
• Trillium Therapeutics Inc TRIL
Cardiff Oncology Inc CRDF
• Iovance Biotherapeutics Inc IOVA
• Blueprint Medicines Corp BPMC
• Allogene Therapeutics Inc ALLO
• Deciphera Pharmaceuticals Inc DCPH
• GENMAB A/S/S ADR GMAB
• AVEO Pharmaceuticals, Inc. AVEO
• Amgen, Inc. AMGN
• Clovis Oncology Inc CLVS
• IMMUTEP LTD/S ADR IMMP
• Heat Biologics Inc HTBX
• Autolus Therapeutics Ltd – ADR AUTL
• Oncolytics Biotech, Inc. ONCY
• Athenex Inc ATNX
• Harpoon Therapeutics Inc HARP
• Gossamer Bio Inc GOSS
• ImmunoGen, Inc IMGN
• Merus NV MRUS
• CytomX Therapeutics Inc CTMX
• Corvus Pharmaceuticals Inc CRVS
• Pfizer Inc. PFE
• CELYAD SA/ADR CYAD
• Immunomedics, Inc. IMMU
• Xencor Inc XNCR
• MacroGenics Inc MGNX
• DelMar Pharmaceuticals Inc DMPI
• Salarius Pharmaceuticals Inc SLRX
• AstraZeneca plc AZN
• Genocea Biosciences Inc GNCA
• NextCure Inc NXTC
• Spring Bank Pharmaceuticals Inc SBPH
• Adaptimmune Therapeutics PLC ADAP
• ZIOPHARM Oncology Inc. ZIOP
• Agios Pharmaceuticals Inc AGIO
• Oncternal Therapeutics Inc ONCT
• Roche
• Aptose Biosciences Inc APTO
• Kura Oncology Inc KURA
• Innate Pharma SA IPHA
• Imv Inc IMV:
• MEI Pharma Inc MEIP
• TapImmune Inc. common stock MRKR
• Inovio Pharmaceuticals Inc INO