The Inflation Reduction Act may lead to an increase in partnering and acquisition activity

Monthly market moves of selected competitors compared to NASDAQ Biotechnology Index (NBI)

ADC Therapeutics

ADCT presnted updated results from LOTIS-2 pivotal Phase 2 trial of Zynlonta in patients with relapsed or refractory DLBCL. The data showed 31% of patients who achieved a complete response remained event-free for two or more years and did not need new anticancer therapy, which validates durability of Zynlonta in heavily pretreated patients.

Immunogen

ImmunoGen presented updated data from an interim analysis of the Phase 2 CADENZA trial of pivekimab sunirine in patients with frontline and relapsed or refractory blastic plasmacytoid dendritic cell neoplasm. In frontline-treated patients, the ORR is 80% (24/30 patients). In relapsed or refractory patients, the ORR was 33%.

Mersana Therapeutics

Mersana announced that FDA has issued a partial clinical hold pausing new patient enrollment in UP-NEXT and UPGRADE-A, the company’s ongoing clinical trials of UpRi in platinum-sensitive ovarian cancer.

Sutro Biopharma

Sutro and Blackstone have entered into a royalty financing collaboration agreement where funds managed by Blackstone Life Sciences will provide $140 million upfront, with up to an additional $250 million in future milestone payments triggered at various return thresholds, in exchange for Sutro’s 4% royalty, or revenue interest, in the potential future sales of Vaxcyte’s products, including VAX-24 and other products that Vaxcyte develops under its license with Sutro.

Alkermes

Alkermes won an arbitration tribunal with partner JNJ regarding the use of Alkermes’ NanoCrystal formulation technology across four J&J products, gaining $194 million in back royalties from 2022 and confirming the company will receive future royalties as per their license agreements.

ImmunityBio

ImmunityBio’s senior management participated in a fireside chat at the Jefferies Global Healthcare Conference.

Nektar Therapeutics

Short interest of Nektar increased by 9 % to 11,034,628 reported on June 15, compared to 10,100,462 on May 15.

Werewolf Therapeutics

Werewolf’s management presented a company overview at Jefferies Healthcare Conference.

Allogene Therapeutics

Allogene presented updated data from the Phase 1 ALPHA/ALPHA2 trials of ALLO-501/501A in 33 CAR T naïve patients with relapsed or refractory large B-cell lymphoma treated with the Alloy manufacturing process material across different CAR T dosing and lymphodepletion regimens. Results indicate an off-the-shelf allogeneic CAR-T can potentially deliver durable complete responses comparable to autologous CAR-T therapies.

Autolus Therapeutics

Autolus announced clinical data of AUTO4 (Phase 1/2 LibrA T1 study), a TRBC1-targeting CAR T cell therapy in relapsed/refractory TRBC1-Positive PTCL at the International Conference on Malignant Lymphoma. At the highest dose 4 out of 4 PTCL patients achieved a response using the original manufacturing process. Ongoing complete metabolic responses in 2 out of 4 patients at 15 and 18-months post-dosing at the highest dose tested. The presence of CAR-T cells in the lymph nodes of patients suggests fast homing of CAR-T cells to the tumor site, despite absence in the blood. Overall, AUTO4 was well tolerated with no dose limiting toxicities.

Arcellx

Arcellx has received notification from the FDA that a clinical hold has been placed on its CART-ddBCMA IND for the treatment of patients with relapsed or refractory multiple myeloma. The clinical hold was received following a patient death. 

Mustang Bio

Mustang announced that final data from the follicular lymphoma cohort of the single-institution Phase 1/2 clinical trial of MB-106 demonstrate treatment with the CD20-targeted, autologous CAR T-cell therapy resulted in high ORR and CR rates and CAR T persistence in FL patients. MB-106 is being developed in a collaboration between Mustang and Fred Hutch to treat patients with relapsed or refractory B-cell NHL and CLL.

Immutep

Immutep said it raised $53.4 million in equity financing. The capital infusion gives the company a cash balance of $90.2 million, which it said extends its runway into 1Q 2026.

MacroGenics

Short interest of MacroGenics decreased by 11 % to 4,249,105 reported on June 15, compared to 4,767,740 on May 15.