Weekly Movers: Global Blood Therapeutics, Sophiris Bio…
pharmafile | June 20, 2016 | Feature | Manufacturing and Production, Medical Communications, Research and Development, Sales and Marketing | Global Blood Therapeutics, Shares, markets, pharma, stocks
Here’s a quick look at some of the biggest movers of the week:
Sophiris Bio (Nasdaq: SPHS) stock rose to nearly double after the company said its Topsalysin demonstrated an ability to ablate tumor cells in 50% of patients six months after treatment in mid-stage studies.
Global Blood Therapeutics (Nasdaq: GBT) shares jumped to close up over 9% after the company said its trial drug to treat sickle cell disease boosted haemoglobin production in a small study.
Chief Executive Ted Love said: “Overall, the data collected to date in study GBT440-001 indicate that we have a drug candidate that we can move into a pivotal trial later this year.
“All SCD patients dosed with GBT440 have shown a positive hematologic response. Additionally, a rapid and durable reduction in hemolytic anemia and sickling has been shown over 90 days. We continue to see a linear, dose proportional relationship between pharmacokinetics and pharmacodynamics, and the data continue to support the inhibition of polymerization of sickle hemoglobin through increased oxygen affinity as the mechanism of action of GBT440.”
Sickle cell is a group of inherited red blood cell disorders where a person has abnormal hemoglobin, the protein that transports oxygen in the blood. Those with the disease experience sudden severe pain attacks and poor oxygen delivery can cause organ damage.
Eleven Biotherapeutics Inc (Nasdaq: EBIO) jumped to gain over 52% after the company said it has entered an exclusive license agreement with Swiss drug major Roche (VTX: ROG) to develop and commercialize its drug candidate EBI-031 to treat diabetic macular edema, and uveitis.
Under the terms of the deal, Eleven will received $7.5 million upfront, and is in line for potential future milestone payments of up to $262.5 million.
EBI-031 is a humanised monoclonal antibody that potently binds interleukin-6 (IL-6) and inhibits all known forms of IL-6 cytokine signalling, currently being developed for the potential treatment of ocular diseases.
Roche has also licensed all other IL-6 antagonist antibody technology owned by Eleven.
Shares in Marinus Pharmaceuticals (Nasdaq: MRNS) more than halved in value after the company said it plans to stop development of its adult focal onset seizure drug after ganaxolone failed in late stage trials.
Christopher Cashman, chief executive of Marinus Pharmaceuticals, said: “We are disappointed with the outcome of this study, and the unfortunate impact on the epilepsy community and particularly the patients suffering from drug-resistant focal onset seizures who are benefiting from ganaxolone treatment.”
Epileptic seizures require chronic treatment, often over a lifetime. The study was conducted with 359 patients with drug-resistant epilepsy, the company said in a statement.
Revance Therapeutics (Nasdaq: RVNC) stock plummeted after the company said its anti-wrinkle gel failed in late-stage trials.
The company said its DaxibotulinumtoxinA Topical Gel did not achieve its co-primary in Phase III study. Revance said it does not plan to continue development of the product for crow’s feet.
Anjali Shukla
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