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: 

• Morphic Holding (MORF), 15,560% surge in interest
• Ideaya Biosciences (IDYA), 944% surge in interest
• Blueprint Medicines (BPMC), 130% surge in interest
• Seres Therapeutics (MCRB), 45% surge in interest
• Jaguar Health (JAGX), 18% surge in interest
• TG Therapeutics (TGTX), 15% surge in interest

Pipeline and key clinical candidates for these companies:

Morphic Holding is developing a portfolio of oral integrin therapies for the treatment of serious chronic diseases, including autoimmune, cardiovascular, and metabolic diseases, fibrosis, and cancer. Morphic is also advancing its pipeline and discovery activities in collaboration with Schrodinger (SDGR) using its proprietary MInT technology platform which leverages the company’s unique understanding of integrin structure and biology.

Ideaya Biosciences is a synthetic lethality focused precision medicine oncology company committed to the discovery and development of targeted therapeutics for patient populations selected using molecular diagnostics. Ideaya says it is applying its research and drug discovery capabilities to synthetic lethality, which “represents an emerging class of precision medicine targets.”

Blueprint Medicines is a global precision therapy company that says it “invents life-changing therapies for people with cancer and blood disorders” by “applying an approach that is both precise and agile.” Blueprint is globally advancing multiple programs for mast cell disorders, including systemic mastocytosis and chronic urticaria, breast cancer and other cancers vulnerable to CDK2 inhibition, as well as EGFR-mutant lung cancer.

Seres Therapeutics is a microbiome therapeutics company developing a novel class of multifunctional bacterial consortia that are designed to functionally interact with host cells and tissues to treat disease. Seres’ SER-109 program achieved “the first-ever positive pivotal clinical results for a targeted microbiome drug candidate,” according to the company, and has obtained Breakthrough Therapy and Orphan Drug designations from the FDA. The SER-109 program is being advanced to prevent further recurrences of C. difficile infection. Seres is evaluating SER-155 in a Phase 1b study in patients receiving allogeneic hematopoietic stem cell transplantation to reduce incidences of gastrointestinal infections, bloodstream infections and graft-versus-host disease as well as additional preclinical stage programs targeting Infection Protection in medically compromised patients.

Jaguar Health is a commercial stage pharmaceuticals company focused on developing novel, plant-based, sustainably derived prescription medicines for people and animals with GI distress, including chronic, debilitating diarrhea. Jaguar Health’s wholly owned subsidiary, Napo Pharmaceuticals, focuses on developing and commercializing proprietary plant-based human pharmaceuticals from plants harvested responsibly from rainforest areas. Their crofelemer drug product candidate is the subject of the OnTarget study, an ongoing pivotal Phase 3 clinical trial for prophylaxis of diarrhea in adult cancer patients receiving targeted therapy.

TG Therapeutics is focused on the acquisition, development and commercialization of novel treatments for B-cell diseases. In addition to a research pipeline including several investigational medicines, TG has received approval from the FDA for Briumvi, for the treatment of adult patients with relapsing forms of multiple sclerosis, to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease.

Recent news on these stocks:

July 8

Eli Lilly (LLY) and Morphic announced a definitive agreement for Lilly to acquire Morphic. Morphic’s lead program is a selective oral small molecule inhibitor of a4ss7 integrin for the treatment of inflammatory bowel disease, or IBD, that has the potential to improve outcomes and expand treatment options for patients. This molecule is being evaluated in two Phase 2 studies in ulcerative colitis and one Phase 2 study in Crohn’s disease. Additionally, Morphic is developing a preclinical pipeline of other molecules for the treatment of autoimmune diseases, pulmonary hypertensive diseases, fibrotic diseases and cancer. Lilly will commence a tender offer to acquire all outstanding shares of Morphic for a purchase price of $57 per share in cash payable at closing. The transaction has been approved by the boards of directors of both companies. The transaction is not subject to any financing condition and is expected to close in the third quarter of 2024, subject to customary closing conditions, including the tender of a majority of the outstanding shares of Morphic’s common stock.

Ideaya Biosciences announced clinical data for the IDE397 Phase 2 monotherapy expansion dose in methylthioadenosine phosphorylase, or MTAP-deletion urothelial and non-small cell lung cancer, or NSCLC, patients. IDE397 is a potent and selective potential first-in-class methionine adenosyltransferase 2 alpha, or MAT2A, inhibitor in Phase 2 clinical trials for the treatment of MTAP-deletion solid tumors. The company observed encouraging clinical activity at the 30 mg expansion dose in its Phase 2 clinical trial evaluating its potential first-in-class MAT2A inhibitor IDE397 in heavily pre-treated MTAP-deletion urothelial cancer and NSCLC patients. The patients evaluated had a median of two prior lines of therapy, ranging from one to seven prior lines of treatment.

July 7

Oppenheimer raised the firm’s price target on Blueprint Medicines to $125 from $114 and keeps an Outperform rating on the shares. Ahead of this quarter, the firm is “being more aggressive” in its numbers. Its estimated full-year sales now surpass the company’s guidance, driven by continued launch momentum. In its earlier survey work, Oppenheimer saw strong signs of adoption amongst allergists, a prescriber base that it believes can bring about a “woodwork effect” by identifying patients not already in claims databases – significantly increasing AYVAKIT’s market opportunity. The firm continues to view Blueprint as a prime takeout 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.