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Incyte Corporation ($INCY) announced that it has boosted its collaboration with Merck. Both the companies are working together to evaluate the combination of epacadostat, Incyte’s investigational oral selective IDO1 enzyme inhibitor, with KEYTRUDA®(pembrolizumab), Merck’s anti-PD-1 therapy, in patients across five tumor types. The collaboration now includes a Phase 3 study in metastatic melanoma, for which the trial is underway and two Phase 3 studies in first-line NSCLC, including both PD-L1 high-expressing and PD-L1 unselected populations.
The companies will also collaborate for two Phase 3 studies in bladder cancer, including one in first-line bladder cancer and one in second-line bladder cancer, a Phase 3 study in first-line RCC and a Phase 3 study in first-line SCCHN. Both Incyte and Merck will jointly fund these studies. However, Merck will have the responsibility for conducting the trials.

Impax Laboratories Inc. ($IPXL) received a boost as a District Court held that the  U.S. patents 6,750,237 and 7,220,767 protecting Zomig® (zolmitriptan) Nasal Spray are not invalid. The court also said that the patents are infringed by the Lannett Holdings, Inc. and Lannett Company, Inc. ANDA.
Impax, along with AstraZeneca UK, and AstraZeneca AB, had filed a case against Lannett for alleged patent infringement. The allegation was based on the filing of the Defendants Abbreviated New Drug Application relating to Zolmitriptan Nasal Spray, 5mg, generic to Zomig® Nasal Spray.

 

Corbus Pharmaceuticals (CRBP) announced that it has received positive results from a Phase 2 clinical trial assessing multiple doses of lead product candidate, anabasum (Resunab), in cystic fibrosis patients. The study met its primary objective of showing an acceptable safety and tolerability profile at all doses with no serious adverse events reported. Anabasum demonstrated a dose-dependent reduction in the number of acute pulmonary exacerbations.

Halozyme ($HALO) reported that a Phase 1b/2 clinical trial assessing PEGPH20, plus modified FOLFIRINOX chemotherapy, in treatment-naive patients with metastatic pancreatic cancer would be unlikely to show an increase in overall survival, which is its primary endpoint, compared to FOLIFIRINOX alone. PEGPH20 is an investigational drug administered intravenously that temporarily degrades HA.

Anthera Pharmaceuticals($ANTH) reported positive results from the extension phase of a Phase 3 non-inferiority clinical trial, SOLUTION, assessing Sollpura (liprotamase) compared to Pancreaze in cystic fibrosis patients with exocrine pancreatic insufficiency. During the extension period of week 7 through week 20, all patients in both groups maintained their weight. Sollpura was well-tolerated throughout the treatment period.

Progenics Pharmaceuticals ($PGNX) announced positive data from its Phase 2b study with regard to AZEDRA (iobenguane I 131) Injection in patients with rare neuroendocrine tumors called pheochromocytoma and paraganglioma. The drug candidate has various designations including  Breakthrough Therapy, Orphan Drug and Fast Track. The company said the trial met its primary endpoint of the proportion of participants who achieved at least a 50% reduction in all antihypertensive medication for at least six months. 

 

Agenus ($AGEN) announced that it plans to close its Basel site and consolidate key functions in Cambridge, UK and Lexington, MA. It may also eliminate 50 positions over the next six months. The company also plans to focus on developing two checkpoint inhibitor antibodies targeting 4-1BB and TIGIT, combination therapies targeting CTLA-4 and PD-1 and AutoSynVax, a neoantigen cancer vaccine.

Pluristem Therapeutics ($PSTI) reported that it is close to finalize its deal with Sosei Corporate Venture Capital. The parties plan to start a new company to develop and commercialize PLX-PAD cell therapy product in Japan. Pluristem was earlier expected to announce the definitive results by March 31.

 

CASI Pharmaceuticals ($CASI) announced that it suffered a net loss of $2.7 million or $0.05 per share for the quarter ended on December 31, 2016. The company had posted a net loss of $1.7 million for the corresponding quarter of the previous year. Its net loss for the entire year stood at $9.5 million.

Rosetta Genomics ($ROSG) announced its full year revenue at $9.23 million. Its net loss for the year stood at $16.2 million or $9.31 per share. For the fourth quarter of the year, the company reported its net loss at $4.8 million or $2.73 per share, down from the net loss of $6.7 million it had suffered for the corresponding period of the previous year.

Brokerage
Action
Company
Rating
Price Target
Impact on Share Price
Jefferies Group LLC
Reiterates
Alcobra Ltd (ADHD)
Hold
$1.25
N/A
Jefferies Group LLC
Reiterates
Almost Family (AFAM)
Buy
$58.00
N/A
Argus
Initiates
Bioverativ (BIVV)
Hold
$51.00
N/A
Needham & Company LLC
Initiates
Exelixis (EXEL)
Buy

N/A

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