The biotech sector is once again at the whims of expectations for US interest rates, but this time in a negative way as NBI dropped by 6 %. NBI saw a similar dependence on interest rates for last two months of 2023 when it climbed on expectations that FED would start cutting rates this year.
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NBI dropped by 6 % during April as the bets on interest rate cuts are fading away
Monthly market moves of selected competitors compared to NASDAQ Biotechnology Index (NBI)
|
Area |
Company |
Ticker |
Price range $ |
Δ Price |
MktCap $m |
Δ MktCap $m |
|
|
ADC |
ADC Therapeutics |
ADCT |
4.31 – 5.09 |
-2 |
% |
364 |
-7 |
|
Elevation Oncology |
ELEV |
3.55 – 5.17 |
27 |
% |
163 |
35 |
|
|
Mersana Therapeutics |
MRSN |
2.85 – 4.45 |
-29 |
% |
363 |
-150 |
|
|
Sutro Biopharma |
STRO |
3.40 – 5.33 |
-40 |
% |
212 |
-140 |
|
|
IL15 / 2 |
ImmunityBio |
IBRX |
4.82 – 8.99 |
49 |
% |
5 385 |
1 766 |
|
Mural Oncology |
MURA |
3.53 – 4.85 |
-24 |
% |
63 |
-20 |
|
|
Nektar Therapeutics |
NKTR |
0.90 – 1.67 |
57 |
% |
268 |
97 |
|
|
Werewolf Therapeutics |
HOWL |
4.69 – 6.75 |
-4 |
% |
267 |
-10 |
|
|
CAR-T |
Allogene Therapeutics |
ALLO |
2.76 – 4.38 |
-38 |
% |
467 |
-289 |
|
Arcellx |
ACLX |
50.02 – 66.98 |
-28 |
% |
2 641 |
-1 031 |
|
|
Autolus Therapeutics |
AUTL |
3.68 – 5.68 |
-42 |
% |
979 |
-718 |
|
|
Mustang Bio |
MBIO |
0.24 – 1.05 |
-76 |
% |
3 |
-8 |
|
|
Other |
Arcus Biosciences |
RCUS |
14.59 – 18.48 |
-19 |
% |
1 384 |
-332 |
|
Immutep |
IMMP |
2.20 – 2.80 |
15 |
% |
240 |
32 |
|
|
MacroGenics |
MGNX |
13.31 – 18.51 |
0 |
% |
923 |
4 |
|
ADC Therapeutics
ADCT announced the completion of dose escalation in LOTIS-7, a Phase 1b open-label clinical trial evaluating Zynlonta in combination with bispecific antibodies glofitamab or mosunetuzumab in heavily pre-treated patients with relapsed or refractory B-cell NHL. Enrollment in Part 2 dose expansion has been initiated.
Elevation Oncology
Elevation announced new preclinical data demonstrating proof-of-concept for its differentiated HER3-ADC program. The data were presented in a poster session at AACR meeting. Preclinical data shows HER3-dependent cell killing and robust anti-tumor activity in vivo where HER3 is expressed at high levels.
Mersana Therapeutics
Short interest of Mersana increased by 21 % to 10,580,194 reported on April 15, compared to 8,726,183 on March 15.
Sutro Biopharma
Sutro announced a deal with Ipsen on its candidate STRO-003, an ADC targeting ROR1 developed against cancer indications, worth up to $900 million and separate pricing of $75 million underwritten offering.
ImmunityBio
ImmunityBio announced that FDA approved ANKTIVA (N-803) plus BCG for the treatment of patients with BCG-unresponsive non-muscle invasive bladder cancer with carcinoma in situ, with or without papillary tumors. Separately, the company announced positive OS results in the QUILT 3.055 study of 2nd- and 3rd-line NSCLC patients who progressed after checkpoint inhibitor therapy and standard-of-care chemotherapy. Immunitybio has scheduled a meeting with FDA in June to discuss path to registration filing.
Mural Oncology
Mural shared poster presentations with preclinical data from its IL-18 and IL-12 programs at AACR meeting. Combination of IL-18 binding protein resistance with additional half-life enhancement to IL-18 variant demonstrated durable immunological effects. Dual targeted subunit approach to engineered IL-12 may mitigate cytokine’s hallmark toxicity without compromising efficacy.
Nektar Therapeutics
Nektar exercised its license option to develop a program resulting from research collaboration with Biolojic Design initiated in 2021. The antibody program selected for development (now known as NKTR-0165) is designed to modulate the TNFR2 pathway and stimulate the immune system in ulcerative colitis, multiple sclerosis, vitiligo, and other autoimmune disease states.
Werewolf Therapeutics
Werewolf presented preclinical data on development candidates WTX-518 and WTX-712 in posters at AACR. WTX-518, conditionally activated IL-18 INDUKINE, led to complete tumor regressions. WTX-712, a conditionally activated IL-21 INDUKINE, has potent antitumor activity with a differentiated immune activation mechanism.
Allogene Therapeutics
Short interest of Allogene increased by 13 % to 31,360,608 reported on April 15, compared to 27,749,018 on March 15.
Autolus Therapeutics
Autolus announced acceptance of MAA by EMA for obe-cel for patients with relapsed or refractory adult B-Cell ALL. Obe-cel is Autolus’ lead investigational CAR-T cell therapy. Obe-cel has been granted Orphan Drug designation by FDA, Orphan Medical Product Designation by the EMA, Regenerative Medicine Advanced Therapy designation by FDA and Priority Medicines designation by EMA for the indication.Arcellx
Arcellx participated in a fireside chat at the 23rd Annual Needham Virtual Healthcare Conference and in a fireside chat at the HC Wainwright 2nd Annual Cell Therapy Virtual Conference.
Mustang Bio
Mustang announced pricing of a public offering of an aggregate of 16,877,638 shares of its common stock at $0.237 per share. The gross proceeds from the offering are approximately $4 million.
Immutep
Immutep announced preliminary topline results from Cohort B of the TACTI-003 (KEYNOTE-PNC-34) Phase 2b trial evaluating efti in combination with Keytruda as first-line treatment of recurrent or metastatic head and neck squamous cell carcinoma patients with negative PD-L1 expression. The data shows a preliminary 26.9% response rate.
MacroGenics
MacroGenics provided an update on the Phase 2 TAMARACK study of vobramitamab duocarmazine (MGC018) in patients with mCRPC. Preliminary safety data suggest that reducing the dose and frequency of vobra duo improves its safety and tolerability in men with mCRPC.
