Healthcare Roundup – Lilly ends COVID-19 antibody trial, Moderna inks COVID-19 vaccine supply deal in Qatar

Published on: October 27, 2020
Author: Amy Liu

Lilly ends COVID-19 antibody trial after lack of improvement

U.S. government officials are putting an early end to a study testing an Eli Lilly’s (NYSE:LLY) antibody drug for hospitalized patients with COVID-19 as it doesn’t seem to be helping them.

Independent monitors had paused enrollment two weeks ago because of a possible safety issue. But on Monday, the National Institute of Allergy and Infectious Diseases found no safety problem but a low chance that the drug would prove helpful for hospitalized patients.

President Donald Trump received a similar experimental, two-antibody drug from Regeneron Pharmaceuticals (NASDAQ:REGN).

However, the government and Company will continue separate studies testing antibody drug in mild to moderately ill patients.

Lilly and Regeneron have asked the FDA to grant emergency use authorization for their drugs for COVID-19 while late-stage studies continue.

Moderna inks COVID-19 vaccine supply deal in Qatar

Moderna (NASDAQ:MRNA) announces a supply agreement with the Ministry of Public Health of Qatar for its COVID-19 vaccine candidate, mRNA-1273.

“We are advancing the clinical development of mRNA-1273 with our Phase 3 COVE study,” said Stéphane Bancel, Moderna’s CEO.

Parallelly, the company is scaling up its manufacturing capability with strategic partners Lonza and Rovi to be able to deliver ~500M doses per year and possibly up to 1B, beginning in 2021.

On October 22, Moderna completed enrollment of the Phase 3 COVE study.

Turning Point prices $400M equity offering

Turning Point Therapeutics (NASDAQ:TPTX) has priced its public offering of 4,597,702 common shares at $87.00/share, for expected gross proceeds of ~$400M.

Underwriters’ over-allotment is an additional 689,655 shares.

Closing date is October 29.

Helius Medical announces $3.4M private placement

Helius Medical Technologies (NASDAQ:HSDT) closes its previously announced private placement for total gross proceeds of  ~$3.4M.

The private placement consisted of ~6.57 shares of Class A common stock at a purchase price of $0.52 per unit.

Denis Arsenault acquires Jushi Holdings’ additional securities

Denis Arsenault acquired 30K subordinate voting shares of Jushi Holdings (OTCQB:JUSHF) at C$3.55/share.

Post the acquiring, acquiror’s ownership will be decreased by more then 2%.

Post the acquisition completion, the acquiror holds 4M multiple voting shares of the issuer, 3.3M subordinate voting shares, warrants to acquire 6.75M multiple voting shares of the issuer and ~7M warrants to acquire subordinate voting shares.

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