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:

• Evogene (EVGN), 3,980% surge in interest
• Aptevo Therapeutics (APVO), 1,351% surge in interest
• Dogwood Therapeutics (DWTX), 134% surge in interest

Pipeline and key clinical candidates for these companies:

Evogene is a computational biology company leveraging big data and artificial intelligence, aiming to revolutionize the development of life-science based products by utilizing cutting-edge technologies to increase the probability of success while reducing development time and cost. Evogene established three unique tech-engines – MicroBoost AI, ChemPass AI and GeneRator AI. Each tech-engine is focused on the discovery and development of products based on one of the following core components: microbes, small molecules, and genetic elements.

Aptevo Therapeutics is focused on developing novel immunotherapies for the treatment of cancer. APVO436 is a bispecific CD3xCD123 ADAPTIR currently in Phase 1b development in a multi-center, multi-cohort trial designed to evaluate safety, tolerability and efficacy in combination therapy and monotherapy for patients with acute myeloid leukemia, or AML. The company plans to initiate a Phase 2 trial, evaluating APVO436 in combination with venetoclax and azacitidine in patients with AML who are venetoclax treatment naive, in 2H23.

Dogwood Therapeutics is a development-stage biopharmaceutical company focused on developing new medicines to treat pain and fatigue-related disorders. The Dogwood research pipeline includes two separate mechanistic platforms with a non-opioid analgesic program and an antiviral program. The proprietary non-opioid, Nav 1.7 analgesic program is centered on our lead development candidate, Halneuron which is a highly specific voltage-gated sodium channel modulator, a mechanism known to be effective for reducing pain transmission. The antiviral program includes IMC-1 and IMC-2, which are novel, proprietary, fixed dose combinations of anti-herpes antivirals and the anti-inflammatory agent, celecoxib. These combination antiviral approaches are being applied to the treatment of illnesses believed to be related to reactivation of previously dormant herpesviruses, including fibromyalgia and Long-COVID.

Recent news on these stocks:

April 23

H.C. Wainwright upgraded Dogwood to Buy from Neutral with a $10 price target. The most important catalyst for Dogwood in 2025 is the upcoming interim results from the Phase 2b study of halneuron, the company’s lead product, for the management of chemotherapy-induced neuropathic pain, the analyst tells investors in a research note. The firm cites its positive outlook on the upcoming interim results and its assessment of halneuron’s market opportunity for the upgrade.

April 21

Evogene signed a definitive agreement under which ICL will acquire the majority of activity of Evogene’s subsidiary, Lavie Bio. As part of the agreement, ICL will also acquire Evogene’s MicroBoost AI for AG platform. The transaction is expected to close during Q2. Lavie Bio is a company in the ag-biologicals industry with a pipeline of microbiome-based ag-biological products. Key assets to be transferred to ICL include Lavie Bio’s core team, the BDD technology platform, the company’s microbial bank and data assets, the majority of the company’s development programs, and its commercial products. Additionally, ICL will acquire Evogene’s MicroBoost AI for AG platform. Lavie Bio’s existing agreements with its current partners will not be transferred to ICL and may generate future revenue for Lavie Bio’s shareholders.

Aptevo Therapeutics announced that it has entered into definitive securities purchase agreements for the purchase and sale of 2,324,000 shares of the company’s common stock in a registered direct offering at a purchase price of 86.2c per share. Roth Capital Partners is acting as the exclusive placement agent for the offering. Aptevo expects the gross proceeds from the offering to be approximately $2.0M, before deducting the placement agent’s fees and other estimated offering expenses payable by the company. Aptevo intends to use the net proceeds from the proposed offering for the continued clinical development of its product candidates, working capital, and other general corporate purposes.

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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.