News of layoffs and restructuring have evoked concerns that 2023 could be a year of attrition that will push companies to prioritize key candidates and hold onto their finances.
While there will be some exceptions, fundraising and IPOs will be difficult for most. NBI remained flat during January.
Monthly market moves of selected competitors compared to NASDAQ Biotechnology Index (NBI)
|
Area |
Company |
Ticker |
Price range $ |
Δ Price |
MktCap $m |
ΔMktCap $m |
|
|
ADC |
ADC Therapeutics |
ADCT |
3.45 – 5.20 |
33 |
% |
393 |
98 |
|
Immunogen |
IMGN |
4.14 – 4.79 |
-7 |
% |
1 015 |
-79 |
|
|
Mersana Therapeutics |
MRSN |
5.27 – 6.67 |
12 |
% |
657 |
72 |
|
|
Sutro Biopharma |
STRO |
17.19 – 8.45 |
-11 |
% |
413 |
-51 |
|
|
IL15 / 2 |
Alkermes |
ALKS |
25.31 – 29.02 |
10 |
% |
4 706 |
412 |
|
ImmunityBio |
IBRX |
3.78 – 4.78 |
-25 |
% |
1 521 |
-508 |
|
|
Nektar Therapeutics |
NKTR |
2.19 – 2.72 |
20 |
% |
511 |
86 |
|
|
Werewolf Therapeutics |
HOWL |
1.98 - 4.30 |
100 |
% |
121 |
61 |
|
|
CAR-T |
Allogene Therapeutics |
ALLO |
5.76 – 7.99 |
23 |
% |
1 113 |
206 |
|
Arcellx |
ACLX |
29.15 – 33.94 |
8 |
% |
1 464 |
106 |
|
|
Autolus Therapeutics |
AUTL |
1.80 – 2.15 |
13 |
% |
195 |
23 |
|
|
Mustang Bio |
MBIO |
0.39 – 0.72 |
72 |
% |
73 |
30 |
|
|
Other |
Arcus Biosciences |
RCUS |
17.51 – 23.15 |
5 |
% |
1 566 |
69 |
|
Immutep |
IMMP |
1.83 – 2.06 |
11 |
% |
146 |
15 |
|
|
MacroGenics |
MGNX |
5.17 – 6.36 |
-14 |
% |
355 |
-58 |
|
ADCT’s CEO Ameet Mallik presented a company overview at the 41st Annual JP Morgan Healthcare Conference in San Francisco.
Immunogen announced that Michael Vasconcelles, MD, has been appointed Executive Vice President, Research, Development, and Medical Affairs. Dr. Vasconcelles has served as a Senior Advisor to the Life Sciences team at Frazier Healthcare Partners.
Mersana announced the initiation of patient dosing in its Phase 1 clinical trial of XMT-2056, the company’s lead Immunosynthen product candidate. The Phase 1 open-label trial will investigate XMT-2056 in previously treated patients with advanced/recurrent solid tumors expressing HER2.
Sutro announced results from a Phase 1 study of STRO-002 (luvelta), a novel Folate receptor alpha targeting ADC and interim safety data on 15 patients with advanced ovarian cancer, demonstrating 37.5% ORR, median DOR of 5.5 months, and median PFS of 6.1 months. The company provided details on the design of the registration-directed Phase 2/3 study, REFRaME, to start in the second quarter of 2023.
Alkermes announced that nemvaleukin alfa has been granted an Innovation Passport for the treatment of mucosal melanoma under the ILAP by the MHRA UK.
ImmunityBio announced positive results in its fully-enrolled metastatic pancreatic cancer study in third-line or greater subjects (QUILT 88) showing that the overall survival rate for patients continues to be double compared to historical survival rates after two or more prior lines of therapy. The results were presented at ASCO GI.
Nektar’ President and CEO Howard Robin presented at the 41stt Annual JP Morgan Healthcare Conference in San Francisco.
Short interest of Werewolf increased 6 times to 306,862 reported on January 13, compared to 50,340 on December 15.
Allogene said its allogeneic CAR T cell therapy targeting BCMA, ALLO-715, may lead to durable responses. In a Phase 1 study, a 320 x 106 dose of cells led to 17 (70.8%) responses among 24 multiple myeloma patients, with 11 (45.8%) achieving a very good partial response or better and six (26%) achieving a complete response.
Autolus announced it has entered into a non-exclusive license agreement with Cabaletta Bio. The agreement allows Cabaletta to incorporate Autolus’ proprietary RQR8 safety switch into a cell therapy program for the treatment of autoimmune disease, with an option for Cabaletta to incorporate the safety switch in up to four additional cell therapy programs.
Arcellx and Kite announced the closing of the companies’ previously announced global strategic collaboration to co-develop and co-commercialize Arcellx’s lead late-stage product candidate, CART-ddBCMA, for the treatment of patients with relapsed or refractory multiple myeloma.
Mustang’s President and CEO Manuel Litchman participated in a fireside chat at the B. Riley Securities’ 3rd Annual Oncology Conference.
Immutep announced that it has enrolled and randomized over 50% of the planned 154 patients in the TACTI-003 Phase 2b trial. TACTI-003 is evaluating Immutep’s first-in-class soluble LAG-3 protein eftilagimod alpha, in combination with pembrolizumab as 1st line treatment of recurrent or metastatic head and neck squamous cell carcinoma.
MacroGenics announced the appointment of Dr. Margaret A. Liu and Meenu Chhabra Karson to its Board of Directors. Dr. Liu will serve as a member of MacroGenics’ Science and Technology Committee and Ms. Karson will serve as a member of the Company’s Audit Committee. Following the appointment of Dr. Liu and Ms. Karson, MacroGenics’ Board will comprise ten directors, nine of whom are independent.
