PRISM MarketView – Biotech Breakfast – April 28, 2024
Author By Sophia VidaPosted on 
Biotech Underperforms; ImmunityBio Soars as Anktiva Secures FDA Nod; ResMed Up 18% on Strong Earnings
New York, N.Y., April 28, 2024 – PRISM MarketView – Healthcare equities finished flat on Friday after an uneventful session with the S&P 500 Healthcare Index down (0.01%) versus the S&P 500 Index which was up +1.02%. The XBI finished the day up +1.54%. The FDA had a busy week, greenlighting Pfizer’s hemophilia B gene therapy, Beqvez, ImmunityBio’s Anktiva for non-small cell lung cancer, and approving a label expansion to include pregnant people with HIV for Gilead’s Biktarvy®.
Notable performers on Friday were Immunity Bio ($IBRX) which soared +43.8%, and a further +2.04% aftermarket, after the company announced positive overall survival results in a study of Anktiva combined with checkpoint inhibitors in non-small cell lung cancer. Cullinan Therapeutics ($CGEM) gained +31.4% following the company announcing that clinical data from its Phase 1 trial of CLN-619 in patients with advanced solid tumors will be presented at the 2024 American Society of Clinical Oncology (ASCO) Annual Meeting at the end of May, and ResMed ($RMD) was up +18.9% on strong Q3 earnings. The company was the day’s best performer on the XLV.
PRISM Index Gainers and Decliners
PRISM MarketView’s Emerging Biotech Index tracks the progress of micro and small cap companies contributing to healthcare innovation and economic growth. Top performers on Friday were Metagenomi ($MGX), which gained 11.72%, Vaxart ($VXRT), which was up 7.79%, and BioLineRx ($BLRX), which rose 6.31%. Index decliners were ZyVersa Therapeutics ($ZVSA) which dropped by 16.83%, Equillium ($EQ), which fell by 5.52%, and Bolt Biotherapeutics ($BOLT) which was down 3.47% by the end of the session. The index has a current value of $214.20 and is up 114.2% since inception.
BRAIN MATTERS
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THE TRADER’S LENS
Genomics company $WGS is set to release earnings next week on April 29. The stock has been trading between about $8 and $12 over the past couple of months.
THE WEEK’S HEADLINES
Silo Pharma Reports Positive Results from PTSD Study
Silo Pharma, Inc. (Nasdaq: SILO) has announced positive data from its recent pharmacokinetic (PK) study of SPC-15, an intranasal prophylactic treatment for anxiety and post-traumatic stress disorder (PTSD). Silo Pharma is conducting preclinical studies of SPC-15 in collaboration with Columbia University under a sponsored research agreement and option.
YS Biopharma to Initiate Hepatitis B Vaccine Trial in Philippines
Global biopharmaceutical company, YS Biopharma (Nasdaq: YS) has been granted clinical trial approval in the Philippines for its YS-HBV-002 immunotherapeutic vaccine for chronic hepatitis B virus (HBV) infection. YS expects to initiate a Phase 1 clinical trial in the Philippines in June 2024.
Hope for Allergy Sufferers as Altamira Publishes Positive Results from Rhinitis Study
Results from Altamira Therapeutics’ (Nasdaq: CYTO) NASAR clinical trial with Bentrio® nasal spray in seasonal allergic rhinitis (SAR) has been accepted for publication in Allergy, one of the highest-ranking journals in the field of allergology. Bentrio is an OTC nasal spray for allergic rhinitis and a commercial-stage legacy asset for Altamira.
Capricor Therapeutics Advances Duchenne Muscular Dystrophy Candidate
Capricor Therapeutics (Nasdaq: CAPR) has successfully completed a Type-B Chemistry, Manufacturing and Controls (CMC) meeting with the FDA to discuss next steps for the company’s Biologics License Application (BLA) submission for its lead asset CAP-1002 in the treatment of Duchenne muscular dystrophy (DMD). Capricor’s share price settled up 2.18% on Thursday, rising an additional 2.91% in after market trading.
BIOVIEW GAINERS AND DECLINERS
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