Last week, companies like Sunesis Pharmaceuticals, Inc (SNSS) and Chimerix, Inc (CMRX) were in the news due to pipeline updates. While Sunesis’ shares slumped on disappointing data, Chimerix made news related to the Ebola virus. Meanwhile, Regeneron’s (REGN) Eylea continues to gain approval for new indications.
Sunesis’ shares tanked 78% on news that a pivotal phase III study being conducted on Qinprezo (vosaroxin) and cytarabine failed to achieve the primary endpoint. The study was being conducted in patients with first relapsed or refractory acute myeloid leukemia.
Chimerix’s shares are trading up ever since the company announced that its lead compound, brincidofovir, has been provided for the potential treatment of patients suffering from Ebola. Brincidofovir is actually in late-stage development for the treatment of adenovirus infections in immunocompromised transplant patients. However, last month, brincidofovir demonstrated in vitro activity against the Ebola virus.
With the Ebola virus outbreak gaining momentum, more focus is being placed on candidates that could treat the deadly disease.
Chimerix is now working with the FDA to finalize a study protocol for the evaluation of the tolerability and efficacy of brincidofovir in Ebola patients. The company’s shares were up more than 10% on the news.
Biotech Stock News
Regeneron continues to score with its blockbuster eye drug, Eylea. The latest update from Regeneron is that the FDA has approved Eylea for the treatment of macular edema following retinal vein occlusion (RVO).
This means that Eylea can now be used for macular edema following branch retinal vein occlusion (BRVO) in addition to the previously-approved indication of macular edema following central retinal vein occlusion (CRVO). The approval for the broader indication should bring in more sales for Regeneron.
Biotech Financial News
Last week, Alexion (ALXN) was the only stock among the major biotechs to record an increase in share price (up 1.29%).
Vertex (VRTX) was the biggest loser among the big biotechs last week with its shares declining 8.44%. However, Vertex was the biggest gainer over the last six months (up 54.86%) with Gilead being a close second (up 44.39%).
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