Biotech Alert: Searches spiking for these stocks today

These names in the biotech sector are seeing a substantial increase in search activity today, as determined by InvestingChannel. They include: 

• Exicure (XCUR), 1,005% surge in interest
• Phathom Pharmaceuticals (PHAT), 526% surge in interest
• Neurocrine Biosciences (NBIX), 310% surge in interest
• Mannkind (MNKD), 309% surge in interest
• Biocardia (BCDA), 276% surge in interest
• Oragenics (OGEN), 115% surge in interest

Pipeline and key clinical candidates for these companies:

Exicure is an early-stage biotechnology company historically focused on developing nucleic acid therapies targeting ribonucleic acid against validated targets. The company says it continues to actively pursue out-licensing opportunities for its clinical asset, cavrotolimod, as well as for its preclinical candidates, including the SCN9A program for neuropathic pain, and to pursue all strategic alternatives with the goal of maximizing stockholder value.

Phathom Pharmaceuticals is a biopharmaceutical company focused on developing and commercializing novel treatments for gastrointestinal diseases. The company has licensed the exclusive rights in the U.S., Europe, and Canada to vonoprazan, a first-in-class potassium-competitive acid blocker. Phathom has assembled a team of seasoned gastrointestinal and pharmaceutical industry experts with deep expertise in developing GI therapeutics, including anti-secretory agents.

Neurocrine Biosciences is a neuroscience-focused, biopharmaceutical company with a simple purpose: to relieve suffering for people with great needs, but few options. The company is dedicated to discovering and developing life-changing treatments for patients with under-addressed neurological, neuroendocrine, and neuropsychiatric disorders. The company’s diverse portfolio includes FDA-approved treatments for tardive dyskinesia, chorea associated with Huntington’s disease, endometriosis and uterine fibroids, as well as a robust pipeline including multiple compounds in mid- to late-phase clinical development across core therapeutic areas.

MannKind Corporation focuses on the development and commercialization of inhaled therapeutic products for patients with endocrine and orphan lung diseases.

BioCardia is a developer of cell and cell-derived therapies for cardiovascular and pulmonary disease. The company has two biotherapeutic platforms, CardiAMP autologous bone marrow-derived mononuclear cell therapy for cardiovascular indications and the NK1R+ allogeneic bone marrow-derived mesenchymal stem cell therapies for cardiovascular and pulmonary diseases.

Oragenics is a development-stage company dedicated to fighting infectious diseases including coronaviruses and multidrug-resistant organisms. Its lead product is Terra CoV-2, an intranasal vaccine candidate to prevent COVID-19 and variants of the SARS-CoV-2 virus. 

Recent news on these stocks:

August 26

Exicure announced that it will effect a 1-for-5 reverse stock split of its outstanding shares of common stock. The company expects that the reverse stock split will become effective at 5:00 pm on Tuesday, August 27 and its common stock will begin trading on a split-adjusted basis at the open of trading on Wednesday, August 28 under the new CUSIP number 30205M 309. Exicure’s common stock will continue to trade on the Nasdaq Capital Market under the symbol (XCUR). The reverse stock split is an effort to regain compliance with Nasdaq’s listing rules. The reverse stock split was approved by the company’s stockholders at its special meeting of stockholders held on August 20 to be effected by the company’s board of directors within approved parameters. The company’s board of directors approved the reverse stock split at a ratio of 1-for-5 on August 20.

August 28

Neurocrine announced positive top-line data for its Phase 2 clinical study of NBI-1117568 in adults with schizophrenia. NBI-‘568 is the first investigational, oral, muscarinic M4 selective agonist in development for the treatment of schizophrenia. The NBI-‘568-SCZ2028 dose-finding study met its primary endpoint for the once-daily 20 mg dose. It demonstrated a clinically meaningful and statistically significant reduction from baseline in the Positive and Negative Syndrome Scale total score at Week 6 with a placebo-adjusted mean reduction of 7.5 points and an 18.2-point reduction from baseline. The once-daily 20 mg dose also demonstrated a statistically significant improvement for additional endpoints. The company intends to advance NBI-‘568 into Phase 3 development early next year. NBI-‘568 was generally safe and well tolerated at all doses studied in the Phase 2 clinical trial. Adverse events with the highest incidence were somnolence, dizziness, and headache. In addition to NBI-‘568, Neurocrine Biosciences has a portfolio of assets in clinical development that selectively target muscarinic receptors.

Oppenheimer analyst Steven Lichtman raised the firm’s price target on MannKind (MNKD) to $12 from $10 and keeps an Outperform rating on the shares in conjunction with the firm’s updated thoughts on United Therapeutics (UTHR) published today following the Key Opinion Leader call on the current treatment and competitive landscape in idiopathic pulmonary fibrosis with a focus on TYVASO. The addition of IPF indication to TYVASO yields an additional $5B in peak sales in 2033, providing a stream of royalties to MannKind by partner United Therapeutics, Oppenheimer says. The firm’s KOLs were equally enthusiastic about the promise of inhaled delivery of the current standard of care, pirfenidone and nintedanib, an avenue MannKind is working on with MNKD-201.

August 29

BioCardia announced that the Food and Drug Administration, FDA, has cleared BioCardia to market the Morph DNA Steerable Introducer product family, subject to the general controls provisions of the Federal Food, Drug, and Cosmetic Act. The patented Morph DNA Steerable Introducer product family now has FDA market clearance to provide a pathway through which medical instruments, such as balloon dilatation catheters, guidewires, or other therapeutic devices, may be introduced into the peripheral vasculature or chambers and coronary vasculature of the heart. The clearance covers sixteen products in lengths of 30, 45, 71, and 90 centimeters in 5, 6, 7, and 8 French introducer sheath equivalent diameters.

August 30

BioCardia announced the pricing of its upsized public offering with participation from management and directors, institutional investors, and certain existing investors of the Company for the purchase and sale of 2,400,000 shares of common stock and warrants to purchase up to 2,400,000 shares of common stock at a combined offering price of $3.00 per share and accompanying warrant, priced at-the-market under Nasdaq rules. The company expects to receive aggregate gross proceeds of $7.2 million, before deducting placement agent fees and other offering expenses. The warrants will have an exercise price of $3.00 per share, will be exercisable immediately and will expire five years from the issuance date. The closing of the offering is expected to occur on September 3, 2024, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from this offering for working capital and general corporate purposes, which include, but are not limited to, advancing our investigational biotherapeutic candidates and our biotherapeutic delivery partnering business. A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.

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About “Biotech Alert”

The Fly will report on a selection of biotech stocks seeing a surge in interest from retail and financial professional investors, based on data from InvestingChannel.

This Fly exclusive recap reveals the biotech stocks that are seeing a spike in searches among the 20-plus million retail and financial professional investors through InvestingChannel’s online financial news media ecosystem.

This increased attention from the investors may be in response to, or advance of, outsized moves for stocks in the biotech sector, which tend to be volatile and prone to sharp swings in share price around binary events such as clinical study results and FDA approvals.