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: 

• Bright Minds Biosciences (DRUG), 39,806% surge in interest
• Molecular Templates (MTEM), 3,720% surge in interest
• Salarius Pharmaceuticals (SLRX), 1,550% surge in interest
• Vanda Pharmaceuticals (VNDA), 1,439% surge in interest
• Lipella Pharmaceuticals (LIPO), 1,269% surge in interest
• Hoth Therapeutics (HOTH), 1,050% surge in interest
• MeiraGTx (MGTX), 1,023% surge in interest
• DiaMedica Therapeutics (DMAC), 642% surge in interest
• Eyepoint Pharmaceuticals (EYPT), 339% surge in interest
• Aprea Therapeutics (APRE), 333% surge in interest

Pipeline and key clinical candidates for these companies:

Bright Minds says it is focused on developing “novel transformative treatments” for neuropsychiatric disorders, epilepsy, and pain. “Bright Minds has a portfolio of next-generation serotonin agonists designed to target neurocircuit abnormalities that are responsible for difficult to treat disorders such as resistant epilepsy, treatment resistant depression, PTSD, and pain. Bright Minds’ drugs have been designed to potentially retain the powerful therapeutic aspects of psychedelic and other serotonergic compounds, while minimizing the side effects, thereby creating superior drugs to first-generation compounds, such as psilocybin,” the company has stated.

Molecular Templates is a clinical-stage biopharmaceutical company focused on the discovery and development of targeted biologic therapeutics. The company’s proprietary drug platform technology, known as engineered toxin bodies, or ETBs, leverages the resident biology of a genetically engineered form of Shiga-like Toxin A subunit to create novel therapies with potent and differentiated mechanisms of action for cancer.

Salarius Pharmaceuticals is a clinical-stage biopharmaceutical company developing therapies for patients with cancer in need of new treatment options. Salarius’ product portfolio includes seclidemstat, its lead candidate, which is being studied as a potential treatment for pediatric cancers, sarcomas and other cancers with limited treatment options, and SP-3164, an oral small molecule protein degrader being developed for the treatment of non-Hodgkin’s lymphoma. Salarius has received financial support from the National Pediatric Cancer Foundation to advance the Ewing sarcoma program.

Vanda Pharmaceuticals is focused on the development and commercialization of innovative therapies to address high unmet medical needs and improve the lives of patients.

Lipella is focused on developing new drugs by reformulating the active agents in existing generic drugs and optimizing these reformulations for new applications. The company says it maintains a therapeutic focus on diseases with significant, unaddressed morbidity and mortality where no approved drug therapy currently exists, “believing that this focus can potentially help reduce the cost, time and risk associated with obtaining marketing approval.”

Hoth Therapeutics refers to itself as “a catalyst in early-stage pharmaceutical research and development, elevating drugs from the bench to pre-clinical and clinical testing.” Hoth “collaborates and partners with a team of scientists, clinicians, and key opinion leaders to seek out and investigate therapeutics that hold immense potential to create breakthroughs and diversify treatment options,” the company stated.

MeiraGTx is a vertically integrated, clinical-stage gene therapy company with six programs in clinical development and a broad pipeline of preclinical and research programs. “MeiraGTx has taken a portfolio approach by licensing, acquiring, and developing technologies that give depth across both product candidates and indications. MeiraGTx’s initial focus is on three distinct areas of unmet medical need: ocular diseases, including both inherited retinal diseases as well as large degenerative ocular diseases, neurodegenerative diseases and severe forms of xerostomia. Though initially focusing on the eye, central nervous system, and salivary gland, MeiraGTx plans to expand its focus to develop additional gene therapy treatments for patients suffering from a range of serious diseases,” the company says.

DiaMedica Therapeutics is a clinical stage biopharmaceutical company committed to improving the lives of people suffering from serious diseases with a focus on acute ischemic stroke. DiaMedica’s lead candidate DM199 is the first pharmaceutically active recombinant form of the KLK1 protein, an established therapeutic modality in Asia for the treatment of acute ischemic stroke and other vascular diseases.

EyePoint Pharmaceuticals is committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders. The company’s pipeline leverages its proprietary Durasert technology for sustained intraocular drug delivery including EYP-1901, an investigational sustained delivery intravitreal treatment currently in Phase 2 clinical trials. The proven Durasert drug delivery platform has been “safely administered to thousands of patients’ eyes” across four U.S. FDA approved products, including Yutiq for the treatment of posterior segment uveitis, EyePoint said.

Aprea Therapeutics is a clinical-stage biopharmaceutical company focused on precision oncology through synthetic lethality. The company’s lead program is ATRN-119, a clinical-stage small molecule ATR inhibitor in development for solid tumor indications. Aprea has completed all IND enabling studies for its oral, small molecule WEE1 inhibitor, APR-1051, and recently received FDA clearance of its IND.

Recent news on these stocks:

October 16

Firefly Neuroscience (AIFF) announced collaborating with Bright Minds Biosciences to analyze the data from its first-in-human Phase 1 study of its lead compound, BMB-101. The study demonstrated results of the qEEG data. During the EEG recording, subjects were seated with a FDA approved 19 electrode EEG headset provided by Firefly strategic partner, Zeto Inc. Channels were sampled at 250 or 500 Hz and referenced to A1/A2 channels during recording. The EEG recording time was 10 minutes. There were four EEG recording timepoints: day 1 pre-dose and post-dose, and day 7 pre-dose and post-dose. Data was analyzed using the FireFly Neuroscience advanced EEG analysis platform.

EyePoint Pharmaceuticals announced that the Company granted non-statutory stock options to new employees as inducement awards outside the Company’s 2023 Long-Term Incentive Plan in accordance with NASDAQ Listing Rule 5635(c)(4). The Company granted stock options to purchase up to an aggregate of 69,000 shares of EyePoint Pharmaceuticals common stock to four new employees. The stock options were granted on October 15, 2024. The grants were approved by the Compensation Committee and made as an inducement material to each employee entering into employment with EyePoint Pharmaceuticals in accordance with NASDAQ Listing Rule 5635(c)(4). The option awards have an exercise price of $9.88 per share, the closing price of EyePoint Pharmaceuticals’ common stock on October 15, 2024. The options have a ten-year term and vest over four years, with 25% of the original number of shares vesting on the first anniversary of the applicable employee’s date of grant and the remainder vesting in equal monthly installments over the following three years. Vesting of the options is subject to the employee’s continued service with EyePoint Pharmaceuticals through the applicable vesting dates.

Scotiabank initiated coverage of EyePoint with an Outperform rating and $18 price target. EyePoint has its own long-acting implant for wet AMD in pivotal development, Duravyu, which demonstrated positive efficacy and safety in a robust Phase 2 trial, notes the analyst, who sees “plenty of room in wAMD for multiple companies to have commercial success.” The firm suspects the long-acting implant market will be split among numerous products, as opposed to a winner-take-all dynamic, the analyst added.

October 15

Lipella Pharmaceuticals announced the receipt of a notice of allowance from the U.S. Patent and Trademark Office, or USPTO, for its proprietary liposomal drug delivery platform. The patent application, U.S. Patent No. 17/829,960, titled “Delivery of Agents Using Metastable Liposomes,” covers key innovations in Lipella’s platform technology for delivering therapeutic agents via liposome-based vehicles. The patent allows claims that cover Lipella’s method for using metastable liposomes to deliver a variety of therapeutic agents, including the company’s lead assets, LP-10 and LP-310. This technology enables precise, targeted delivery, improving the safety and efficacy of treatments across multiple therapeutic areas, including oncology, cancer survivorship, and immunotherapy. This newly allowed patent provides broad intellectual property protection for Lipella’s drug delivery platform, which optimizes delivery to epithelial tissues such as those lining the mouth, bladder, colon, esophagus, vagina, and urethra. It extends market exclusivity and strengthens Lipella’s competitive position, particularly for its two lead clinical assets currently in Phase 2 trials. With additional patents covering the company’s formulations in the U.S., Australia, and Canada until 2035, Lipella is poised for further growth and development as it continues to advance its clinical pipeline.

Hoth Therapeutics announced the granting of a U.S. patent for its pioneering Alzheimer’s treatment, HT-ALZ. This patent secures the company’s intellectual property rights to its novel therapeutic approach, as Hoth accelerates preparations for clinical trials.

MeiraGTx announced top-line data from its clinical bridging study of AAV-GAD for the treatment of Parkinson’s disease, MGT-GAD-025. Top-line data summary: AAV-GAD was safe and well tolerated, with no serious adverse events related to AAV-GAD treatment. At Week 26, a statistically significant 18-point average improvement from baseline in UPDRS Part 3 “off” medication score was demonstrated in the high dose group, with no significant change in the sham or low dose groups. Significant improvements from baseline in the disease-specific, patient-reported quality of life PDQ-39 score were demonstrated in both the high and low dose groups with no significant change in the sham group at Week 26: In the high dose AAV-GAD group, the PDQ-39 score improved by 8 points from baseline, the low dose group improved by 6 points from baseline, while the 0.2 point worsening in the sham surgery group was not statistically significant. A dose response in PDQ-39 score was observed, with 100% of participants in the high dose group, 60% of participants in the low dose group, and 25% of participants in the sham surgery group reporting an improvement. For the PDQ-39 score, there was a trend to significance between the high dose and sham surgery groups at 6 months

October 14

Vanda Pharmaceuticals confirmed that it received a second unsolicited, non-binding proposal from Cycle Group Holdings Ltd. to acquire the company for $8.00 per share in cash. Cycle Group’s second proposal was received by Vanda on September 23, 2024. The terms of Cycle Group’s proposal are economically identical to the previously evaluated and rejected indication of interest received from Cycle Group on May 24, 2024, Vanda said. Consistent with its fiduciary duties and in consultation with its independent legal and financial advisors, Vanda’s board carefully reviewed the second proposal and unanimously determined that it substantially undervalues Vanda and is not in the best interests of the company and its stockholders. Accordingly, the board has determined not to pursue the proposal. The Vanda Board again evaluated all aspects of Vanda’s business and compared Vanda’s prospects for creating stockholder value to the unsolicited proposal. The board concluded that the latest proposal from Cycle Group is “another opportunistic attempt to purchase the company’s shares at a discount to Vanda’s intrinsic value.” As part of this process, the board updated its analysis of the company’s clinical development pipeline, expanding commercial presence and significant cash balance. The board and management team remain confident that Vanda’s growth profile, strong cash position and efficient operations position the company well for significant long-term value creation far in excess of the consideration offered by Cycle Group.

October 9

Aprea Therapeutics announced that it has engaged Philippe Pultar, MD as its senior medical advisor to support Aprea with developing and advancing APR-1051, Aprea’s potential best in class WEE1 inhibitor. Dr. Pultar is a seasoned pharmaceutical executive with extensive experience in oncology, including the development of a WEE1 inhibitor from early to late-stage clinical development. Aprea intends to provide an update on the progress of this clinical study by year end 2024. The WEE1 program is part of Aprea’s portfolio of DDR-targeted therapeutics aimed to deliver precision medicine solutions that ensure the right patients receive the most effective Aprea treatment, with the goals of improving outcomes and reducing treatment resistance.

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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.