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:

• NanoString Technologies (NSTG), 1,061% surge in interest
• Evelo Biosciences (EVLO), 326% surge in interest
• Novavax (NVAX), 271% surge in interest
• Eyepoint Pharmaceuticals (EYPT), 132% surge in interest
• Iovance Biotherapeutics (IOVA), 110% surge in interest
• Dynavax Technologies (DVAX), 100% surge in interest

Pipeline and key clinical candidates for these companies:

NanoString Technologies says it offers “an ecosystem of innovative discovery and translational research solutions” to map the universe of biology – including the GeoMx Digital Spatial Profiler, the CosMx Spatial Molecular Imager and the AtoMx Spatial Informatics Platform. The CosMx SMI and AtoMx SIP platforms are expected to launch in 2022.

Evelo Biosciences is a clinical stage biotechnology company developing a novel platform of orally delivered medicines acting on the small intestinal axis, SINTAX, with systemic therapeutic effects. The company’s product candidates are pharmaceutical preparations of single strains of microbes or their extracellular vesicles, or EVs. Evelo initially is developing EDP1815 in psoriasis and atopic dermatitis and EDP2939 in psoriasis. “If shown to be effective in inflammatory disease mediated by the Th1, Th2 or Th17 inflammatory pathways, these same investigational medicines could be effective in additional inflammatory diseases, such as psoriatic and other forms of arthritis, asthma, allergy, and inflammatory bowel disease,” the company says.

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.

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 says.

Iovance Biotherapeutics is focused on developing and delivering tumor infiltrating lymphocyte, or TIL, therapies for patients with cancer. Its lead late-stage TIL product candidate, lifileucel for metastatic melanoma, “has the potential to become the first approved one-time cell therapy for a solid tumor cancer,” said the company, adding that its TIL platform has “demonstrated promising clinical data across multiple solid tumors.”

Dynavax is a commercial-stage biopharmaceutical company developing and commercializing innovative vaccines to help protect the world against infectious diseases. The Company has two commercial products, HEPLISAV-B vaccine, which is approved in the U.S., the European Union and Great Britain for the prevention of infection caused by all known subtypes of hepatitis B virus in adults 18 years of age and older, and CpG 1018 adjuvant, currently used in multiple adjuvanted COVID-19 vaccines.

Recent news on these stocks:

July 10

NanoString reported preliminary Q2 revenue of over $44M, representing year-over-year growth of roughly 27%. The revenue figure is above the upper end of its guidance range of $40M to $42M and the consensus revenue estimate of $41M. Additionally, NanoString reiterated its FY23 revenue guidance of $175M-$185M, compared to the consensus estimates of $179.13M.

July 10

Evelo Biosciences announced that it has entered into a securities purchase agreement with investors in a private placement to sell 11,025,334 shares of its common stock at a purchase price of $2.31 per share, which would result in gross proceeds of approximately $25.5M. The offering is being led by Evelo’s founder, Flagship Pioneering, with participation from other new and existing investors. Evelo intends to use the net proceeds from the private placement to fund the readout of its Phase 2a trial of EDP2939 in moderate psoriasis, to pay down approximately $5M of its existing debt and for general corporate purposes. BMO Capital Markets acted as the sole placement agent for the private placement.

July 6

Novavax said it has been granted full marketing authorization by the European Commission in the European Union for Nuvaxovid. The vaccine is now fully authorized for use as a primary series in individuals aged 12 and older and as a booster dose in adults aged 18 and older for the prevention of COVID-19. Nuvaxovid was originally granted a conditional marketing authorization in the EU for these indications.

July 10

EyePoint Pharmaceuticals announced the appointment of Jay Duker, M.D. as Chief Executive Officer. Dr. Duker has transitioned from his most recent role as Chief Operating Officer, COO, and President. Dr. Duker has also been appointed to the Board of Directors of the Company, effective today. Nancy Lurker has transitioned to the role of Executive Vice Chair of the Board of Directors from the position of CEO.

July 10

Iovance Biotherapeutics announced that it intends to offer and sell $150M of shares of its common stock, subject to market and other conditions, in an underwritten public offering. Goldman Sachs & Co. and Jefferies are acting as joint lead book-running managers for the offering.

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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.