The following are some of today’s top gainers in the biotech/pharma sector.
1. Revance Therapeutics Inc. (RVNC)
Gained 33.65% to close Tuesday’s (Dec.5) trading at $34.75.
News: The Company’s two phase III trials of DaxibotulinumtoxinA for Injection (RT002) for glabellar lines, dubbed SAKURA 1 and SAKURA 2, met the primary composite endpoint of statistically significant improvement against placebo in reducing the severity of glabellar lines, i.e., the frown lines or wrinkles between the brows.
In the SAKURA 1 trial, the percent of RT002-treated patients who had none or mild wrinkles and achieved at least a two-point improvement from baseline on both validated physician and patient assessments at Week 4 was 73.6%. In the SAKURA trial, it was 74%. About 88 percent of RT002-treated patients in SAKURA 1 and 91 percent of RT002 patients in SAKURA 2 said they were very satisfied or satisfied with their treatment experience at that time point.
— A long-term safety trial, dubbed SAKURA 3, is underway, and is expected to be completed in the second half of 2018.
— If all goes well as planned, the Company plans to submit a Biologics License Application for RT002 in the first half of 2019.
2. Mustang Bio Inc. (MBIO)
Gained 10.68% to close Tuesday’s trading at $10.67.
News: The Company entered into a license agreement with Harvard University and a research collaboration agreement with Beth Israel Deaconess Medical Center for the development of CRISPR/Cas9-enhanced CAR T therapies for the treatment of cancer.
Mustang Bio is focused on developing CAR T-cell therapies to cure cancer. The Company’s lead CAR T therapies are MB-101 for glioblastoma and MB-102 for acute myeloid leukemia, both of which are under phase I development. MB-103 for glioblastoma multiforme; MB-104 for multiple myeloma; MB-105 for prostate, pancreatic, gastric & bladder cancers and MB-106 for B-cell non-Hodgkin Lymphoma are the Company’s preclinical CAR T product candidates.
— Read out phase I data of MB-101 in glioblastoma and MB-102 in acute myeloid leukemia in early 2018.
— Initiate a first-in-human phase I study of MB-103 for glioblastoma multiforme in 2018.
3. Depomed Inc. (DEPO)
Gained 9.93% to close Tuesday’s trading at $7.86.
News: The Company has granted commercialization rights to its Nucynta opioid franchise to Collegium Pharmaceutical Inc. (COLL), and has decided to move its headquarters and trim its workforce by 40%.
The transaction is expected…