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: 

• Atara Biotherapeutics (ATRA), 1,496% surge in interest
• Elevai Labs (ELAB), 592% surge in interest
• Arbutus Biopharma (ABUS), 363% surge in interest
• Aptose Biosciences (APTO), 278% surge in interest
• Ascendis Pharma (ASND), 271% surge in interest
• Matinas BioPharma (MTNB), 251% surge in interest
• Innoviva (INVA), 200% surge in interest
• Axsome Therapeutics (AXSM), 185% surge in interest
• Aldeyra Therapeutics (ALDX), 175% surge in interest
• Novavax (NVAX), 77% surge in interest

Pipeline and key clinical candidates for these companies:

Atara Biotherapeutics is “harnessing the natural power of the immune system to develop off-the-shelf cell therapies for difficult-to-treat cancers and autoimmune conditions, including multiple sclerosis, that can be rapidly delivered to patients within days. With cutting-edge science and differentiated approach, Atara is the first company in the world to receive regulatory approval of an allogeneic T-cell immunotherapy,” the company states.

Elevai Labs specializes in medical aesthetics and biopharmaceutical drug development, focusing on innovations for skin aesthetics and treatments tied to obesity and metabolic health. Driven by a commitment to scientific research, Elevai aims to transform personal health and beauty, the company states.

Arbutus Biopharma is a clinical-stage biopharmaceutical company leveraging its extensive virology expertise to identify and develop novel therapeutics with distinct mechanisms of action, which can be combined to provide a functional cure for patients with chronic hepatitis B virus. The company’s pipeline of internally developed, proprietary compounds includes an RNAi therapeutic, imdusiran and an oral PD-L1 inhibitor, AB-101. Imdusiran is currently in two Phase 2a combination clinical trials. AB-101 is currently being evaluated in a Phase 1a/1b clinical trial.

Aptose Biosciences is a clinical-stage biotechnology company committed to developing precision medicines addressing unmet medical needs in oncology, with an initial focus on hematology. The company’s small molecule cancer therapeutics pipeline includes products designed to provide single agent efficacy and to enhance the efficacy of other anti-cancer therapies and regimens without overlapping toxicities. The company’s lead clinical-stage compound tuspetinib is an oral kinase inhibitor that has demonstrated activity as a monotherapy and in combination therapy in patients with relapsed or refractory acute myeloid leukemia and is being developed as a frontline triplet therapy in newly diagnosed AML.

Ascendis Pharma is applying its platform technology to “build a leading, fully integrated, global biopharmaceutical company focused on making a meaningful difference in patients’ lives,” the company states. The company uses its TransCon technologies to “create new and potentially best-in-class therapies,” Ascendis says.

Matinas BioPharma is a biopharmaceutical company focused on delivering groundbreaking therapies using its lipid nanocrystal platform delivery technology. Matinas’ lead LNC-based therapy is MAT2203, an oral formulation of the broad-spectrum antifungal drug amphotericin B, which although highly potent, can be associated with significant toxicity. MAT2203 was successfully evaluated in the completed Phase 2 EnACT study in cryptococcal meningitis, meeting its primary endpoint and achieving robust survival. MAT2203 will be further evaluated as an oral step-down monotherapy treatment following IV amphotericin B in a single pivotal Phase 3 study in the treatment of aspergillosis in persons with limited treatment options who are unable to be treated with azoles for reasons related to drug-drug interactions, resistance or for whom these antifungal agents are unable to be used for other clinical reasons.

Innoviva is a diversified holding company with a portfolio of royalties and other healthcare assets. Innoviva’s royalty portfolio includes respiratory assets partnered with Glaxo Group Limited, including RELVAR/BREO/ELLIPTA and ANORO/ELLIPTA. Innoviva’s other healthcare assets include infectious disease and critical-care assets stemming from acquisitions of Entasis Therapeutics, including its lead asset sulbactam-durlobactam, and La Jolla Pharmaceutical Company, including GIAPREZA, approved to increase blood pressure in adults with septic or other distributive shock, and XERAVA, for the treatment of complicated intra-abdominal infections in adults.

Axsome Therapeutics is developing and delivering novel therapies for central nervous system, or CNS, conditions that have limited treatment options. AXS-05 is a novel, oral, patent protected, investigational N-methyl-D-aspartate receptor antagonist with multimodal activity under development for the treatment of Alzheimer’s disease agitation and other central nervous system disorders.

Aldeyra is a clinical-stage biotechnology company whose pre-commercial product candidates are reproxalap, a potential treatment for dry eye disease and allergic conjunctivitis, and ADX-2191, a potential treatment for primary vitreoretinal lymphoma, proliferative vitreoretinopathy, and other rare sight-threatening retinal diseases. In addition, Aldeyra is developing other product candidates, including ADX-629 and chemically related molecules, for the potential treatment of systemic and retinal immune-mediated diseases.

Novavax says it promotes improved health by discovering, developing and commercializing innovative vaccines to protect against serious infectious diseases. Novavax offers a differentiated vaccine platform that combines a recombinant protein approach, innovative nanoparticle technology and Novavax’s patented Matrix-M adjuvant to enhance the immune response.

Recent news on these stocks:

September 5

Oppenheimer upgraded Ascendis Pharma to Outperform from Perform with an $180 price target. The analyst upgraded the shares ahead of Yorvipath’s U.S. launch for hypoparathyroidism in Q1 of 2025 and this month’s top-line results from TransCon CNP’s Phase 3 trial in achondroplasia. Key opinion leader checks indicate strong physician and patient demand for Yorvipath, the analyst tells investors in a research note. When coupled with the above-expectations pricing, the firm sees sales “briskly growing toward” its 2029 estimate of $1.7B in global revenue. Opco also believes the market has largely written off TransCon CNP, “providing an appealing setup” as it has optimism for a competitive pivotal efficacy showing. It sees current Ascendis levels as “offering a particularly attractive entry.”

September 4

Axsome Therapeutics announced that the FDA has acknowledged the resubmission of the company’s New Drug Application, NDA, for AXS-07 for the acute treatment of migraine. The FDA designated the resubmission as a Class 2 resubmission and set a Prescription Drug User Fee Act, PDUFA, action goal date of January 31, 2025.

September 3

Atara Biotherapeutics announced that it has entered into definitive agreements for the issuance and sale of 758,900 shares of its common stock at a purchase price of $8.25 per share and the issuance and sale of pre-funded warrants to purchase up to 3,604,780 shares of its common stock at a purchase price of $8.2499 per share in a registered direct offering, representing a premium of 15% to Atara’s 7-day volume-weighted average price, to entities affiliated with Redmile Group, EcoR1 Capital, and Adiumentum Capital Management, as well as a strategic investment from a large public biotechnology company. The offering is expected to close on or about September 5, subject to the satisfaction of customary closing conditions. The gross proceeds to Atara from the offering are expected to be $36M, before deducting estimated offering expenses payable by Atara. Atara currently intends to use the net proceeds from the offering for working capital and general corporate purposes.

Elevai Labs announced data results from an on-going research study conducted in partnership with Carly Klein, President of the National Hair Loss Medical Aesthetics NHLMA, demonstrating the potential of its proprietary Elevai Exosomes in hair restoration.The research study assessed the application of topical Elevai exosomes, in clinic and at home, on participants experiencing hair loss or hair thinning. Study participants were given in-office treatment consisting of scalp microneedling, then Elevai empower a topical exosome serum designed specifically for in-office application was applied, followed by at-home use of Elevai enfinity a topical exosome product, on the areas of concern. Results were assessed using imaging analysis up to 12 months, showing ceased crown inflammation, reversal of miniaturized hairs and recovered hair from the dormant phase, among other benefits. “We tested patients with androgenetic alopecia, delivering Elevai’s unique age zero exosomes to the scalp focusing on areas of thinning”, said Carly Klein, President of NHLMA. “These exosomes were utilized in the early and late stages of hair loss, and we saw promising results, giving us confidence that this technology can be used successfully in combination with other hair restoration approaches.”

August 30

Aptose Biosciences announced that it received a $10M loan through a facility agreement with Hanmi Pharmaceutical Co. Ltd. The loan is convertible as prepayment of milestone obligations under the future collaboration agreement or repayable after the expected completion of a triple drug combination trial with tuspetinib in newly diagnosed AML patients. Aptose will use the proceeds from such loan for the development of tuspetinib. Beyond the $10M facility agreement, Aptose and Hanmi have agreed to negotiate a new tuspetinib co-development collaboration agreement intended to provide additional funding to accelerate clinical development of tuspetinib. Aptose licensed tuspetinib from Hanmi Pharmaceutical in November 2021.

Novavax announced the Novavax COVID-19 Vaccine, Adjuvanted has received Emergency Use Authorization from the FDA for active immunization to prevent COVID-19 in individuals aged 12 and older. Novavax’s vaccine is included in the recommendations issued by the U.S. Centers for Disease Control and Prevention on June 27, 2024. Pre-filled syringes of the vaccine will be available in thousands of locations, including retail and independent pharmacies and regional grocers, following the Center for Biologics Evaluation and Research release of vaccine batches. “Today’s authorization enables Novavax to launch our updated COVID-19 vaccine in the U.S. in pre-filled syringes, and we have worked hard to ensure consumers have access in thousands of locations nationwide,” said John C. Jacobs, President and Chief Executive Officer, Novavax. “Our updated vaccine targets JN.1, the ‘parent strain’ of currently circulating variants, and has shown robust cross-reactivity against JN.1 lineage viruses, including KP.2.3, KP.3, KP.3.1.1 and LB.1.”

August 28

On August 27, Matinas BioPharma Holdings received notice that trading of its shares of common stock had been halted by the NYSE American due to its low trading price. The company expected the trading halt to remain in effect until after the company consummates a reverse stock split of the common stock. As previously announced, the board approved a reverse stock split of the common stock at a ratio of one-for-fifty (1:50). The reverse stock split will become effective at 5:00 PM on August 30. The shares of common stock are expected to begin trading on the split-adjusted basis when the market opens on September 3.

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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.