RepliCel Life Sciences Inc (TSXV:RP)
RepliCel is a regenerative medicine company developing autologous cell therapies that address diseases caused by a deficit of healthy cells required for normal healing and function.
Over the past weekend, the U.S. Centers for Medicare & Medicaid Services distributed $30B of the planned $100B in CARES Act grants to healthcare providers as they battle COVID-19.
The distribution to specific providers was based on total share of 2019 Medicare Fee-for-Service (FFS) revenue (denominator is $484B).
In a note, Baird is “somewhat surprised” by HHS’s allocation methodology, expecting hospitals to get the lion’s share considering the magnitude of pressures from the pandemic.
It estimates that the grants will boost EBITDA 20-40% for post-acute providers, 6-8% for hospital operators and 3-10% for certain others.
HHS has indicated that the remaining $70B will be focused on providers in hard-hit areas, rural locations and providers with lower shares of Medicare revenue.
Post-acute tickers (Baird following): Encompass Healthcare (EHC -2.8%), Amedisys (AMED +2.0%), LHC Group (LHCG -0.0%).
Hospitals: HCA Healthcare (HCA -4.2%), Tenet Healthcare (THC -6.2%), Universal Health Services (UHS -5.0%).
Others: Acadia Healthcare (ACHC -7.2%), Addus HomeCare (ADUS -5.8%), DaVita (DVA -2.6%), MEDNAX (MD -9.3%).
A recently completed study conducted by Accurate Diagnostics Labs and joint venture partner RUCDR Infinite Biologics at Rutgers University demonstrated the potential use of saliva samples to test for SARS-CoV-2, the virus causing COVID-19.
According to Dr. Andrew Brooks, COO of RUCDR Infinite Biologics and Professor of Genetics at Rutgers University, there was 100% concordance between saliva samples and nasopharyngeal swabs.
The process for using the saliva collection device, made by Utah-based Spectrum Solutions, is to remove it from the packaging, spit into a tube, remove the funnel, place a cap on the tube, turn it (to release the preservative) and hand it to collection personnel (if drive-through), thereby mitigating the risk of transmission to healthcare workers who are currently responsible for obtaining samples from the nose or throat.
The FDA has already signed off on emergency use of Spectrum’s product, called the DNA 1000 Saliva Collection Kit.
Dr. Brooks says expanded collections will begin immediately.
COVID-19 testing-related tickers: Abbott (ABT -2.0%), Roche (OTCQX:RHHBY -0.9%), Thermo Fisher Scientific (TMO -2.1%), PerkinElmer (PKI -2.7%), Co-Diagnostics (CODX -0.9%), Chembio Diagnostics (CEMI +20.8%), OraSure Technologies (OSUR +2.3%)
At the epicenter of the coronavirus pandemic, the state of New York reports new COVID-19 hospitalizations of 1,958 yesterday, down from 3,413 at April 2.
“I believe the worst is over if we continue to be smart,” he said,” Governor Andrew Cuomo said at his coronavirus briefing.
Deaths reached 10,056, up 7%, the smallest rise in a while.
The number of intubations, or putting patients on ventilators to help them breathe, actually fell by 21 yesterday, the first decline on the chart.
“When that’s down, it’s good and it’s down,” Cuomo said.
Although when the state will ease restrictions remains uncertain, Cuomo outlines what re-opening will look like: First, ease isolation, then increase economic activity, redefine the “essential worker” economy, apply more testing, and monitor the infection rate.
Athersys (NASDAQ:ATHX) is up 26% premarket on light volume in reaction to its announcement that the FDA has signed off on a pivotal Phase 2/3 clinical trial, MACOVIA, evaluating MultiStem therapy in COVID-19 patients with moderate-to-severe acute respiratory distress syndrome, a Fast Track-tagged indication.
The primary endpoint of the open-label study will be the number of ventilator-free days compared to placebo. Secondary endpoints will include pulmonary function, all-cause mortality, tolerability and quality of life measures. The study will launch this quarter.
Bausch Health Companies (NYSE:BHC) has initiated a clinical trial program in Canada evaluating Virazole (ribavirin), combined with standard support care, in hospitalized COVID-19 patients with respiratory distress. The study should launch within the next few weeks.
The company says ribavirin is a synthetic nucleoside that works by stopping viral replication, so it may be effective in reducing the severity of COVID-19. It is currently approved in Canada, the U.S. and certain other countries for hospitalized pediatric patients with severe lower respiratory tract infections due to RSV (respiratory syncytial virus).
Shares up 1% premarket on light volume.
