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.
Sorrento Therapeutics (SRNE +14.6%) is up in early trade on the heels of its announcement of positive preclinical data on STI-4398 (COVIDTRAP).
STI-4398, an ACE2 (angiotensin-converting enzyme 2)-Fc fusion protein, binds to the SARS-CoV-2 spike protein. Results from an in vitro assay showed that it “completely inhibited” the ability of the coronavirus to infect VERO/E6 cells (cell culture) at a low concentration.
The company intends to advance the candidate as both a treatment and preventative therapy for COVID-19.
Last month, it announced that another COVID-19 candidate, STI-1499, a neutralizing antibody, completely inhibited SARS-CoV-2 infection in an in vitro experiment at low concentration.
Shares spiked in response to the company calling it a “cure” but retraced. Including today’s action, the stock is more than 55% below the intraday high of $10.00 on May 18.
While Novavax (NASDAQ:NVAX) missed out on the Trump administration’s Warp Speed initiative, the biotech is getting $60M to fund the manufacturing of its experimental COVID-19 vaccine from the U.S. Defense Department.
The deal includes the delivery of 10M doses of its vaccine – NVX-CoV2373 – to the DoD this year.
Update: Shares up 14% premarket on light volume.
AbbVie (NYSE:ABBV), Harbour BioMed (HBM), Utrecht University (UU) and Erasmus Medical Center (EMC) have entered into a collaboration to develop a novel antibody therapeutic to prevent and treat COVID-19.
The focus will be on advancing the fully human, neutralizing antibody 47D11 discovered by UU, EMC and HBM. This antibody targets the conserved domain of the spike protein of SARS-CoV-2.
Under the terms of the collaboration, AbbVie will support through the preclinical activities and preparations for later-stage preclinical and clinical development work.
AbbVie will receive an option for the exclusive worldwide rights to license the antibody therapy.
A COVID-19 taskforce in Australia says “available evidence” supports the use of Gilead Sciences’ (NASDAQ:GILD) remedesivir in moderately, severely and critically ill patients. Emergency use authorization should follow.
The antiviral is currently approved for emergency use for COVID-19 in the U.S., India and South Korea. The conditional nod in Europe should be imminent.
In an interview with Swiss newspaper Finanz und Wirtschaft, Roche (OTCQX:RHHBY -0.4%) CEO Severin Schwan said he “sees a chance” that revenues will ramp up after 2022 driven by demand for new products. Additional points:
Tecentriq has “big” potential, can envision market boosting sales estimates after study results.
Company has “very early stage” program for COVID-19 antiviral but it will take “years” for clinical studies to wind up.
Expects 2020 revenue erosion of $4B related to Avastin, Mabthera and Herceptin.
