In a stun­ning set­back, Roche says its top can­cer drug Tecen­triq failed a key PhI­II study

Genen­tech put the A team on their PD-L1 check­point pro­gram for Tecen­triq (ate­zolizum­ab), build­ing a pipeline of com­bi­na­tions now in the clin­ic as they raced to an ac­cel­er­at­ed ap­proval so they could be­gin mar­ket­ing in the boom­ing field. And this morn­ing, Roche says that the drug failed the late-stage con­fir­ma­to­ry study in blad­der can­cer, fail­ing to sig­nif­i­cant­ly im­prove over­all sur­vival and de­liv­er­ing a blow that rais­es ques­tions about the fate of this drug and their en­tire check­point R&D cam­paign.

Roche’s stock dropped 2% on the news.

What went wrong?

San­dra Horn­ing

Roche says it is study­ing that now, but not­ed in its state­ment that the chemo arm of the study ex­pe­ri­enced an un­usu­al­ly high re­sponse that wasn’t ex­pect­ed by the multi­na­tion­al com­pa­ny. The ac­cel­er­at­ed ap­proval — which the FDA not­ed could be yanked if the Phase III failed — was based on the small­er Phase II IMvig­or210 study.

Now the FDA will have to re­view whether the drug should stay on the mar­ket, af­ter Roche had al­ready launched an in­tense mar­ket­ing ef­fort on blad­der can­cer that quick­ly pushed sales past the $100 mil­lion mark last quar­ter. An­a­lysts have wide­ly tapped this ther­a­py as a fu­ture block­buster, worth bil­lions of dol­lars.

Sea­mus Fer­nan­dez, Leerink

“This puts the ex­ist­ing U.S. blad­der can­cer ap­proval in se­ri­ous doubt, and will al­so, of course, raise mar­ket con­cerns about Tecen­triq’s ef­fi­ca­cy in oth­er can­cer types,” Ke­pler Cheuvreux an­a­lyst David Evans wrote in a note to in­vestors, ac­cord­ing to a re­port in Reuters.

Count Sea­mus Fer­nan­dez at Leerink among the many an­a­lysts ad­just­ing to the un­ex­pect­ed. He not­ed:

This comes as a sur­prise to us, con­sid­er­ing MRK’s (MP) Keytru­da (pem­brolizum­ab; an­ti-PD-1) showed an OS ben­e­fit in its piv­otal Keynote-045 tri­al. As IMvig­or211 served as a con­fir­ma­to­ry study for Tecen­triq’s ac­cel­er­at­ed ap­proval for sec­ond-line (2L) blad­der can­cer, we as­sume that this will put this in­di­ca­tion at risk of be­ing re­moved from the la­bel. How­ev­er, the drug al­so has ac­cel­er­at­ed ap­proval for first-line (1L) pa­tients who are in­el­i­gi­ble for cis­platin based chemother­a­py and the con­fir­ma­to­ry tri­al for this pop­u­la­tion (IMvig­or130) is on­go­ing, with re­sults ex­pect­ed in 2019.

Ini­tial­ly ap­proved as a sec­ond-line treat­ment for blad­der can­cer, a first at the time, the Roche mar­ket­ing team hit the ground run­ning. Tecen­triq has been a cen­tral fea­ture of CEO Sev­erin Schwan’s strat­e­gy, help­ing him avoid ex­pen­sive M&A deals as he looks to the R&D group to de­liv­er new block­busters. Roche fol­lowed up just a few weeks ago with the ac­cel­er­at­ed OK as a front­line ther­a­py. The phar­ma gi­ant had no plans to look back now. It cer­tain­ly wasn’t ex­pect­ing the pos­si­bil­i­ty of a do-over.

Sev­erin Schwan, Roche CEO

Tecen­triq was the third PD-1/PD-L1 drug to reach the mar­ket, af­ter Mer­ck and Bris­tol-My­ers Squibb pi­o­neered the first ap­provals. Now there are 5 on the mar­ket, with Pfiz­er/Mer­ck KGaA and re­cent­ly As­traZeneca join­ing the pack. But while these drugs have of­fered new ways for sub­stan­tial num­bers of pa­tients to fight can­cer, they al­so con­tin­ue to oc­ca­sion­al­ly stun re­searchers with un­ex­pect­ed re­sults. Bris­tol-My­ers had to shake up its en­tire re­search or­ga­ni­za­tion af­ter a key fail­ure for Op­di­vo in lung can­cer last year de­railed their lead po­si­tion in the field.

This new fail­ure in blad­der can­cer, where sev­er­al check­points are now avail­able, rais­es ques­tions for every­one work­ing in check­point drug de­vel­op­ment. Co­in­ci­den­tal­ly, Mer­ck KGaA and Pfiz­er scored their own ap­proval to sell Baven­cio for blad­der can­cer on Tues­day. That OK was al­so con­di­tion­al on their fu­ture suc­cess with con­fir­ma­to­ry tri­als.

“While these re­sults are not what we had ex­pect­ed, we be­lieve that Tecen­triq will con­tin­ue to play an im­por­tant role in the treat­ment of peo­ple with ad­vanced blad­der can­cer,” said San­dra Horn­ing, chief med­ical of­fi­cer at Roche. “We are com­mit­ted to help­ing peo­ple with ad­vanced blad­der can­cer and will dis­cuss these da­ta with health au­thor­i­ties.”


Im­age: View of the Rhine Riv­er with the il­lu­mi­nat­ed Roche Tow­er, Basel, Switzer­land on April 24, 2017. Shut­ter­stock

Regeneron CEO Leonard Schleifer speaks at a meeting with President Donald Trump, members of the Coronavirus Task Force, and pharmaceutical executives in the Cabinet Room of the White House (AP Photo/Andrew Harnik)

OWS shifts spot­light to drugs to fight Covid-19, hand­ing Re­gen­eron $450M to be­gin large scale man­u­fac­tur­ing in the US

The US government is on a spending spree. And after committing billions to vaccines defense operations are now doling out more of the big bucks through Operation Warp Speed to back a rapid flip of a drug into the market to stop Covid-19 from ravaging patients — possibly inside of 2 months.

The beneficiary this morning is Regeneron, the big biotech engaged in a frenzied race to develop an antibody cocktail called REGN-COV2 that just started a late-stage program to prove its worth in fighting the virus. BARDA and the Department of Defense are awarding Regeneron a $450 million contract to cover bulk delivery of the cocktail starting as early as late summer, with money added for fill/finish and storage activities.

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UP­DAT­ED: Bio­gen shares spike as ex­ecs com­plete a de­layed pitch for their con­tro­ver­sial Alzheimer's drug — the next move be­longs to the FDA

Biogen is stepping out onto the high wire today, reporting that the team working on the controversial Alzheimer’s drug aducanumab has now completed their submission to the FDA. And they want the agency to bless it with a priority review that would cut the agency’s decision-making time to a mere 6 months.

The news drove a 10% spike in Biogen’s stock $BIIB ahead of the bell.

Part of that spike can be attributed to a relief rally. Biogen execs rattled backers and a host of analysts earlier in the year when they unexpectedly delayed their filing to the third quarter. That delay provoked all manner of speculation after CEO Michel Vounatsos and R&D chief Al Sandrock failed to persuade influential observers that the pandemic and other factors had slowed the timeline for filing. Actually making the pitch at least satisfies skeptics that the FDA was not likely pushing back as Biogen was pushing in. From the start, Biogen execs claimed that they were doing everything in cooperation with the FDA, saying that regulators had signaled their interest in reviewing the submission.

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Daniel O'Day, Gilead CEO (Kevin Dietsch/UPI/Bloomberg via Getty Images)

A new study points to $6.5B in pub­lic sup­port build­ing the sci­en­tif­ic foun­da­tion of Gilead­'s remde­sivir. Should that be re­flect­ed in the price?

By drug R&D standards, Gilead’s move to repurpose remdesivir for Covid-19 and grab an emergency use authorization was a remarkably easy, low-cost layup that required modest efficacy and a clean safety profile from just a small group of patients.

The drug OK also arrived after Gilead had paid much of the freight on getting it positioned to move fast.

In a study by Fred Ledley, director of the Center for Integration of Science and Industry at Bentley University in Waltham, MA, researchers concluded that the NIH had invested only $46.5 million in the research devoted to the drug ahead of the pandemic, a small sum compared to the more than $1 billion Gilead expected to spend getting it out this year, all on top of what it had already cost in R&D expenses.

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FDA bars the door — for now — against Mer­ck’s star can­cer drug af­ter Roche beat them to the punch

Merck has been handed a rare setback at the FDA.

After filing for the accelerated approval of a combination of their star PD-1 drug Keytruda with Eisai’s Lenvima as a first-line treatment for unresectable hepatocellular carcinoma, the FDA nixed the move, handing out a CRL because Roche beat them to the punch on the same indication by a matter of weeks.

According to Merck:

Ahead of the Prescription Drug User Fee Act action dates of Merck’s and Eisai’s applications, another combination therapy was approved based on a randomized, controlled trial that demonstrated overall survival. Consequently, the CRL stated that Merck’s and Eisai’s applications do not provide evidence that Keytruda in combination with Lenvima represents a meaningful advantage over available therapies for the treatment of unresectable or metastatic HCC with no prior systemic therapy for advanced disease. Since the applications for KEYNOTE-524/Study 116 no longer meet the criteria for accelerated approval, both companies plan to work with the FDA to take appropriate next steps, which include conducting a well-controlled clinical trial that demonstrates substantial evidence of effectiveness and the clinical benefit of the combination.

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Covid-19 roundup: Mod­er­na sticks to Ju­ly for its Phase III as ru­mors swirl; Fol­low­ing US lead, EU buys up Covid-19 treat­ments

The Phase III might be delayed from its original early July goal, but Moderna says it will still kick off the pivotal study for what could ultimately be the first Covid-19 vaccine before the end of the month.

A day after Reuters reported that squabbling between the Cambridge biotech and government regulators had held up the trial by about two weeks, Moderna released a statement saying that they had completed enrollment of their 650-person Phase II trial and were on track to begin Phase III by the end of the month. The protocol for that study, which is meant to prove whether or not the vaccine can prevent people from becoming sick, has been finalized, they said.

GSK sets the stage for a toe-to-toe mar­ket show­down with Gilead­'s HIV cham­pi­on Tru­va­da

ViiV Healthcare and majority owner GlaxoSmithKline have cleared another important hurdle on a long-running quest to challenge Gilead’s dominance in preventative HIV treatments.

The final analysis of a new study shows the GSK subsidiary’s long-lasting injection, cabotegravir, proved 66% more effective in HIV prevention than Gilead’s breakthrough Truvada pill. And they now intend to carve away some of the blockbuster revenue that Gilead has enjoyed for years.

Donald and Melania Trump watch the smoke of fireworks from the South Lawn of the White House on July 4, 2020 (via Getty)

Which drug de­vel­op­ers of­fer Trump a quick, game-chang­ing ‘so­lu­tion’ as the pan­dem­ic roars back? Eli Lil­ly and Ab­Cellera look to break out of the pack

We are unleashing our nation’s scientific brilliance and will likely have a therapeutic and/or vaccine solution long before the end of the year.

— Donald Trump, July 4

Next week administration officials plan to promote a new study they say shows promising results on therapeutics, the officials said. They wouldn’t describe the study in any further detail because, they said, its disclosure would be “market-moving.”

— NBC News, July 3

Something’s cooking. And it’s not just July 4 leftovers involving stale buns and uneaten hot dogs.

Over the long weekend observers picked up signs that the focus in the Trump administration may swiftly shift from the bright spotlight on vaccines being promised this fall, around the time of the election, to include drugs that could possibly keep patients out of the hospital and take the political sting out of the soaring Covid-19 numbers causing embarrassment in states that swiftly reopened — as Trump cheered along.

So far, Gilead has been the chief beneficiary of the drive on drugs, swiftly offering enough early data to get remdesivir an emergency authorization and into the hands of the US government. But their drug, while helpful in cutting stays, is known for a limited, modest effect. And that won’t tamp down on the hurricane of criticism that’s been tearing at the White House, and buffeting the president’s most stalwart core defenders as the economy suffers.

We’ve had positive early-stage vaccine data, most recently from Pfizer and BioNTech, playing catchup on an mRNA race led by Moderna — where every little sign of potential trouble is magnified into a lethal threat, just as every advance excites a frenzy of support. But that race still has months to play out, with more Phase I data due ahead of the mid-stage numbers looming ahead. A vaccine may not be available in large enough quantities until well into 2021, which is still wildly ambitious.

So what about a drug solution?

Trump’s initial support for a panacea focused on hydroxychloroquine. But that fizzled in the face of data underscoring its ineffectiveness — killing trials that aren’t likely to be restarted because of a recent population-based study offering some support. And there are a number of existing drugs being repurposed to see how they help hospitalized patients.

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Stephen Hahn, AP

Trump and Navar­ro press again for hy­drox­y­chloro­quine. Can the FDA stay in­de­pen­dent?

Tuesday morning, economist and Trump advisor Peter Navarro walked onto the White House driveway and promptly brought a political cloud back onto the FDA.

Speaking to a White House pool reporter, Navarro said that four Detroit doctors were, based on a single disputed study, filing for the FDA to again issue an emergency authorization for hydroxychloroquine, the anti-malarial pill that President Trump hyped for months as a Covid-19 treatment over the objections of his own scientists. Then, while avoiding directly calling for the FDA to OK the drug, blasted the agency. He said its decision to pull an earlier authorization “was based on bad science” and “had a tremendously negative effect” on doctors and patients.

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David Hallal

AlloVir tests how much an an­tivi­ral biotech can reap in a pan­dem­ic stock mar­ket

The pandemic stock market has proven fruitful for virtually any type of biotech. Now a 7-year-old cell therapy startup will see how much it can yield for a company that specializes in fighting viruses.

AlloVir, a company that until 2019 largely lived off grant money, has filed for a $100 million IPO to back its line of off-the-shelf, virus-fighting T cells. Although in normal circumstances, $100 million could be a solid return for a biotech that got its first major round of funding only last year, we’ll have to wait to see how much the company ultimately earns. As Covid-19 has sent investor money scurrying to almost anyone in drug development, every single biotech to go public this year has prized above their midpoint or upsized their offering, according to Renaissance Capital, sometimes dramatically so.