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: 

• Artelo Biosciences (ARTL), 2,325% surge in interest
• Theravance Bio (TBPH), 733% surge in interest
• Aslan Pharmaceuticals (ASLN), 618% surge in interest

Pipeline and key clinical candidates for these companies:

Artelo Biosciences is a clinical-stage pharmaceutical company dedicated to the development and commercialization of proprietary therapeutics that modulate lipid-signaling pathways. Artelo is advancing a portfolio of broadly applicable product candidates that it says are “designed to address significant unmet needs in multiple diseases and conditions, including anorexia, cancer, anxiety, dermatologic conditions, pain, and inflammation.” 

Theravance Biopharma has developed the FDA-approved YUPELRI inhalation solution indicated for the maintenance treatment of patients with chronic obstructive pulmonary disease, or COPD. Ampreloxetine, its late-stage investigational once-daily norepinephrine reuptake inhibitor in development for symptomatic neurogenic orthostatic hypotension in patients with Multiple System Atrophy, has “the potential to be a first in class therapy effective in treating a constellation of cardinal symptoms in MSA patients,” the company says.

Aslan Pharmaceuticals is a clinical-stage, immunology-focused biopharmaceutical company developing eblasakimab, a potential first-in-class antibody targeting the IL-13 receptor in moderate-to-severe atopic dermatitis with the potential to improve upon current biologics used to treat allergic disease, and has reported positive topline data from a Phase 2b dose-ranging study in moderate-to-severe AD patients. Aslan is currently investigating eblasakimab in dupilumab-experienced, moderate-to-severe AD patients in the TREK-DX Phase 2 trial, with topline data expected at the end of 2024. Aslan is also developing farudodstat, a potent oral inhibitor of the enzyme dihydroorotate dehydrogenase as a potential first-in-class treatment for alopecia areata in a Phase 2a, proof-of-concept trial with an interim readout expected in Q3 2024.

Recent news on these stocks:

July 17

Aslan Pharmaceuticals announced that its Singapore-incorporated, sole operating subsidiary, Aslan Pharmaceuticals, has filed for voluntary liquidation. The decision follows a comprehensive review by the board of the company of Aslan SG’s financial position and strategic alternatives. Effective immediately, all employees of Aslan SG and fellow subsidiary Aslan Pharmaceuticals have been terminated. By a resolution in writing passed by the directors of Aslan SG on July 17, 2024, it was resolved that Aslan SG cannot by reason of its liabilities continue its business, and Luke Anthony Furler and Tan Kim Han of Quantuma were appointed as joint and several provisional liquidators of Aslan SG. The Provisional Liquidators will be responsible for the orderly winding up of Aslan SG’s affairs, including seeking potential strategic alternatives for its development programs and the company’s primary assets, eblasakimab and farudodstat, settling outstanding obligations, and distributing any remaining proceeds, if any, to creditors and shareholders, including the company, in accordance with Singaporean law. Following the resolution in writing of the directors of Aslan SG, the board of the company also resolved by a resolution in writing that the company cannot by reason of its liabilities continue its business and that the company will apply for liquidation under Cayman law procedures. As previously disclosed on July 15, 2024, the company has received a staff delisting determination from the Nasdaq Stock Market due to its failure to meet continued listing requirements, and determined not to request a hearing before the Nasdaq Hearings Panel. As such, the company expects its American Depository Shares will be suspended from trading in due course with trading moved to the over-the-counter market.

July 15

Artelo Biosciences announced that the FDA has issued a “Study May Proceed” letter for the company’s Investigational New Drug, IND, application for ART26.12, for the treatment of chemotherapy-induced peripheral neuropathy, CIPN. FDA clearance of the ART26.12 IND application enables the company to initiate its first-in-human Phase 1 single ascending dose study. “Receiving IND clearance validates our development efforts and underscores the potential impact of ART26.12 to improve patients’ lives,” said Gregory Gorgas, CEO of Artelo Biosciences. “We look forward to sharing the initial clinical results with ART26.12 next year. As the leading company pursuing FABP inhibiton we are committed to building on the unique, lipid-modulating mechanism of our FABP inhibitor platform to address life-altering pathologies for which there are few, if any, safe and effective pharmaceutical treatments.”

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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.