Adaptimmune surges after FDA lifts partial hold; Anthera tanks on PhIII flop; Kadmon axes staffers in restructuring
Adaptimmune stock $ADAP surged 14% after the company revealed in its Q3 update that the FDA had lifted its partial hold on its lead program. When it was first announced in August, the UK biotech hurried to explain that the FDA was looking for a few answers to questions posed by regulators ahead of the launch of the registration trial.
Shares of Anthera $ANTH were battered early Thursday morning when the small biotech announced that its Phase III lupus study of blisibimod flopped, with 47% of the patients hitting the primary endpoint alongside 42% of the placebo arm. Its shares cratered, plunging 39%.
IBM Watson Health has struck up a $50 million collaboration with the Broad Institute. Watson’s computational and deep learning expertise will be put to use examining what makes cancer tumors resistant to therapies. Then they’ll make the data available to the research community for new development projects.
Kadmon had some explaining to do with its Q3 release. The biotech $KDMN has had to work on restructuring a significant debt load it took on before going public earlier this year. And in order to cut its burn rate, the biotech — co-founded by ex-con Sam Waksal, who left ahead of the IPO – has laid off 15% of its staffers in the last three months.
OSI will help bankroll a new collaboration between Evotec and Oxford. They’re setting up LAB282 to accelerate preclinical studies on new drugs that can be spun out into new companies. Evotec will supply the development expertise and the ideas will be inbound from Oxford researchers. The 5-year deal comes with $16 million to fund the work.
What’s up at Alexion? The biotech $ALXN rattled investors with news that it’s doing an internal probe of its Soliris marketing program after an internal whistle blower raised unspecified allegations about sales practices that were “inconsistent” with policies. The biotech is delaying its Q3 report.