Biotech Stock Roundup: TERN, SMMT Stocks Surge on Study Data, GSK's Vaccine Study Fails & More

Zacks09-13

It was a busy week for the biotech sector, with a lot of important data readouts and regulatory updates. Among these, Terns Pharmaceuticals TERN and Summit Therapeutics SMMT surged after reporting ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2467978039?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/QieiOVP5CdM1cfxTnlcVfQ--~B/aD00MTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/e797ee31d4bee954c41ecfac218dc795","is_english":true,"pubTime":"2024-09-13 00:49","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2467978039","market":"us","top_or_hot":-1,"title":"Biotech Stock Roundup: TERN, SMMT Stocks Surge on Study Data, GSK's Vaccine Study Fails & More","media":"Zacks","content":"<div>\n<p>It was a busy week for the biotech sector, with a lot of important data readouts and regulatory updates. Among these, Terns Pharmaceuticals TERN and Summit Therapeutics SMMT surged after reporting ...</p>\n\n<a href=\"https://finance.yahoo.com/news/biotech-stock-roundup-tern-smmt-164900010.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Biotech Stock Roundup: TERN, SMMT Stocks Surge on Study Data, GSK's Vaccine Study Fails & More</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBiotech Stock Roundup: TERN, SMMT Stocks Surge on Study Data, GSK's Vaccine Study Fails & More\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-13 00:49 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/biotech-stock-roundup-tern-smmt-164900010.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>It was a busy week for the biotech sector, with a lot of important data readouts and regulatory updates. Among these, Terns Pharmaceuticals TERN and Summit Therapeutics SMMT surged after reporting ...</p>\n\n<a href=\"https://finance.yahoo.com/news/biotech-stock-roundup-tern-smmt-164900010.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BBT3K403.USD","symbol_name":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/biotech-stock-roundup-tern-smmt-164900010.html","article_id":"2467978039","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/QieiOVP5CdM1cfxTnlcVfQ--~B/aD00MTM7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/e797ee31d4bee954c41ecfac218dc795"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2467978039","pubTimestamp":1726159740,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"It was a busy week for the biotech sector, with a lot of important data readouts and regulatory updates. Among these, Terns Pharmaceuticals TERN and Summit Therapeutics SMMT surged after reporting positive data on important pipeline candidates.Terns Surges on Obesity Drug Data: Terns Pharmaceuticals, a clinical-stage company, announced positive top-line data from its phase I single and multiple-ascending dose  obesity study. Its shares soared on the news, given the potential of the obesity market. The phase I study evaluated the safety, tolerability, pharmacokinetics and pharmacodynamics of its investigational, oral, small-molecule GLP-1R agonist, TERN-601, dosed once daily in healthy adults with obesity or overweight.The maximum placebo-adjusted mean weight loss of 4.9% was observed at the highest dose of TERN-601 , administered once daily. It was also observed that 67% of the patients treated with the candidate, lost 5% or more of their baseline body weight at the 740 mg dosage stren","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"IE00BBT3K403.USD":"LEGG MASON CLEARBRIDGE TACTICAL DIVIDEND INCOME \"A(USD) ACC","IMVT":"Immunovant, Inc.","LU1934455863.HKD":"AB SICAV I LOW VOLATILITY TOTAL RETURN EQUITY PORT \"A\" (HKD) ACC","PFS":"Provident Financial Services Inc","LU0058720904.USD":"联博国际健康护理基金A","GSK":"葛兰素史克","LU0006306889.USD":"SCHRODER ISF US LARGE CAP \"A\" (USD) INC AV","LU1066051498.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (USD) INC","LU1066053197.SGD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM3\" (SGDHDG) INC","IE000M9KFDE8.USD":"NEUBERGER BERMAN US LARGE CAP VALUE \"A\" (USD) ACC","IE00B1BXHZ80.USD":"Legg Mason ClearBridge - US Appreciation A Acc USD","LU0965509283.SGD":"AB LOW VOLATILITY EQUITY PORTFOLIO \"AD\" (SGDHDG) INC","LU0122379950.USD":"贝莱德世界健康科学A2","LU1116320737.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A6\" (USD) INC","IE0002141913.USD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I2\" (USD) ACC","MRK":"默沙东","BK4516":"特朗普概念","LU1057294990.SGD":"Blackrock World Healthscience A2 SGD-H","BK4213":"石油与天然气的勘探与生产","IE00BJJMRZ35.SGD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"I2\" (SGDHDG) ACC","IE00BFTCPJ56.SGD":"Janus Henderson Global Life Sciences A Acc SGD","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. VL \"A\" (USD) ACC","BK4532":"文艺复兴科技持仓","LU1066051225.USD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AC\" (USD) ACC","LU1585245621.USD":"EASTSPRING INV GLOBAL LOW VOLATILITY EQUITY FUND \"A\" (USD) ACC B","LU0265550359.USD":"BGF SYSTEMATIC GLOBAL ENHANCED EQUITY YIELD \"A2\" (USD) ACC","LU0211331839.USD":"FRANKLIN MUTUAL GLB DISCOVERY \"A\" (USD) ACC","IE00BLSP4239.USD":"Legg Mason ClearBridge - Tactical Dividend Income A Mdis USD Plus","BK4563":"昨日强势股","TERN":"Terns Pharmaceuticals, Inc.","BK4585":"ETF&股票定投概念","BK4550":"红杉资本持仓","PR":"Permian Resources Corp","LU1917777945.USD":"安联专题基金Cl AT Acc","GSK.UK":"葛兰素史克","BK4139":"生物科技","BK4533":"AQR资本管理(全球第二大对冲基金)","LU0203347892.USD":"SCHRODER ISF QEP GLOBAL ACTIVE VALLUE \"A\" (USD)  INC AV","BK4007":"制药","SMMT":"Summit Therapeutics PLC","MBC":"MasterBrand, Inc.","LU1066051811.HKD":"HSBC GIF GLOBAL EQUITY VOLATILITY FOCUSED \"AM2\" (HKD) INC","RLAY":"Relay Therapeutics","LU1023059063.AUD":"BGF WORLD HEALTHSCIENCE \"A2\" (AUDHDG) ACC","IE0009355771.USD":"骏利亨德森环球生命科技A Acc","BK4195":"互助储蓄与抵押信贷金融服务","LU1061106388.HKD":"BGF WORLD HEALTHSCIENCE \"A2\" (HKDHDG) ACC","LU1093756325.SGD":"FTIF - Franklin K2 Alt Strat Fd A (acc) SGD-H1","BK4588":"碎股","IE00BJT1NW94.SGD":"JANUS HENDERSON GLOBAL LIFE SCIENCES \"A2\" (SGDHDG) ACC"},"translate_title":"生物科技股综述：TERN、SMMT股票因研究数据、葛兰素史克疫苗研究失败等而飙升","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"RLAY":1,"PR":1,"PFS":1,"MBC":1,"GSK":1,"IMVT":1,"TERN":0.9,"SMMT":0.9,"MRK":0.9,"GSK.UK":0.6},"content_text":"It was a busy week for the biotech sector, with a lot of important data readouts and regulatory updates. Among these, Terns Pharmaceuticals TERN and Summit Therapeutics SMMT surged after reporting positive data on important pipeline candidates.\nRecap of the Week’s Most Important Stories:\nTerns Surges on Obesity Drug Data:  Terns Pharmaceuticals, a clinical-stage company, announced positive top-line data from its phase I single and multiple-ascending dose (SAD and MAD) obesity study. Its shares soared on the news, given the potential of the obesity market. The phase I study evaluated the safety, tolerability, pharmacokinetics and pharmacodynamics of its investigational, oral, small-molecule GLP-1R agonist, TERN-601, dosed once daily in healthy adults with obesity or overweight.\nTreatment with TERN-601 led to dose-dependent, statistically significant placebo-adjusted mean weight loss across all three doses (240 mg, 500 mg and 740 mg) evaluated in the 28-day MAD study.\nThe maximum placebo-adjusted mean weight loss of 4.9% was observed at the highest dose of TERN-601 (740 mg), administered once daily. It was also observed that 67% of the patients treated with the candidate, lost 5% or more of their baseline body weight at the 740 mg dosage strength of TERN-601.\nAdditionally, Terns Pharmaceuticals reported that the candidate was generally safe and overall well-tolerated in the phase I obesity study. \nTERN currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nGSK Vaccine Updates: GSK plc GSK announced that its therapeutic herpes simplex virus (HSV) vaccine candidate, GSK3943104, did not meet the primary endpoint in the combined phase I/II proof-of-concept study.\nThe company completed the primary objective data analysis from the phase II part of the phase I/II TH HSV REC-003 study, which demonstrated that GSK3943104 failed to meet the study's primary efficacy endpoint.\nFollowing this, GSK decided not to progress with the phase III development of GSK3943104.\nThe company also announced positive headline data from a phase II study that evaluated certain mRNA-based seasonal influenza vaccine candidates. The study investigated various mRNA formulations of the seasonal influenza vaccine candidates, which can improve immune responses against influenza A and B strains in older and younger adults versus the current standard of care.\nThe data showed that mRNA formulations in one of the vaccine candidates demonstrated positive A and B strain immune responses compared to the standard of care in both older and younger adults.\nGSK’s seasonal influenza vaccine candidate is currently in the phase II development. Building on the success of the above data, the company will now proceed into the phase III development of the vaccine candidate.\nUpdates From RLAY:  Relay Therapeutics, Inc. RLAY announced an underwritten public offering of 28.6 million shares of its common stock at a price of $7.00 per share. However, shares of this clinical-stage precision medicine company were down on the news as investors were not pleased with the pricing. The recent public offering also dilutes the existing shareholders’ base value.\nEarlier in the week, RLAY’s shares surged after the company announced positive interim data from the early-stage study of its lead investigational candidate, RLY-2608. The enrolled population included PI3Kα-mutated, HR+, HER2- locally advanced or metastatic breast cancer (MBC) patients who received the combo regimen of twice-daily, 600 mg dose of RLY-2608 and Faslodex (fulvestrant). Interim data from the study showed that treatment with this two-drug therapy resulted in a clinically meaningful progression-free survival (PFS). \nPer the data readout from the 52 evaluable patients receiving the combo therapy, the median PFS was 9.2 months across all mutations and 10.3 months among patients with kinase mutations. The clinical benefit rate (CBR), defined as the proportion of patients with complete response, partial response or stable disease for at least 24 weeks, was 57% across the 35 CBR-evaluable patients.\nAmong the 30 patients with measurable disease, one-third achieved a partial response (PR), while nearly three-quarter experienced tumor reductions. Additionally, among the 15 patients with measurable disease who had a kinase mutation, more than half achieved a PR. The median follow-up duration in the MBC study was 7.5 months.\nBased on the encouraging data from the doublet arm of the MBC study, Relay Therapeutics is gearing up to initiate a pivotal study of RLY-2608 (in combination with Faslodex) for the same indication in the second-line setting in 2025, following regulatory discussions.\nSMMT Stock Surges on NSCLC Data: Summit Therapeutics’ shares skyrocketed on Sept. 9 after it reported data from the primary analysis of the phase III HARMONi-2 study, which compared its investigational antibody ivonescimab (SMT112) with Merck’s blockbuster drug Keytruda (pembrolizumab) in certain patients with non-small cell lung cancer (NSCLC).\nData from the study showed that the drug reduced the risk of disease progression or death by nearly half when compared to Keytruda. This data conforms with the initial results reported by SMMT in May, wherein treatment with ivonescimab demonstrated a statistically significant and clinically meaningful improvement in the primary endpoint of PFS.\nPatients who received the SMMT therapy achieved a median PFS of 11.14 months compared to 5.82 months for those receiving the MRK drug. This difference showed that ivonescimab cuts the risk of disease progression or death by 49% compared with Keytruda. Treatment with the drug achieved an overall response rate of 50% compared with 38.5% for those receiving Merck’s drug. The disease control rate for ivonescimab-receiving patients stood at 89.9% compared with 70.5% for Keytruda.\nFollowing the results, shares of Summit hit an all-time high of $21.50.\nIMVT Provides Update:  Immunovant IMVT announced positive data from the phase IIa study of its investigational candidate, batoclimab, which is being developed for Graves’ Disease (“GD”).\nThe enrolled patient population comprised uncontrolled GD patients who were hyperthyroid despite anti-thyroid drugs (ATD) therapy.  The data showed that treatment with the batoclimab 680 mg dose led to a mean Immunoglobin G (IgG) reduction of 77%, translating to a response rate of 76% in the GD patient population after 12 weeks. Additionally, it was observed that at the end of the first 12 weeks, 56% of the patients treated with the high-dose of the candidate achieved an ATD-Free Response.\nDuring the next 12 weeks of treatment with the batoclimab 340 mg dose, the mean IgG level was further reduced by 65%, with a correspondingly lower responder rate of 68%. Additionally, the ATD-Free Response rate dropped to 36% in the second 12 weeks.\nIMVT also announced that it has aligned with the FDA regarding the impending pivotal study design and secured investigational new drug application clearance for IMVT-1402 to treat GD. Shares were up on the news.\nPerformance\nThe Nasdaq Biotechnology Index has gained 0.16% in the past five trading sessions and MRNA’s shares have risen 9.68%. In the past six months, shares of AMGN have rallied 21.53%. (See the last biotech stock roundup here: Biotech Stock Roundup: NVAX Vaccine Approval, ALNY, ATHA Stock Dive on Updates & More Updates)\nImage Source: Zacks Investment Research\nWhat's Next in Biotech?\nStay tuned for more pipeline updates. \nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nGSK PLC Sponsored ADR (GSK) : Free Stock Analysis Report\nSummit Therapeutics PLC (SMMT) : Free Stock Analysis Report\nImmunovant, Inc. (IMVT) : Free Stock Analysis Report\nRelay Therapeutics, Inc. (RLAY) : Free Stock Analysis Report\nTerns Pharmaceuticals, Inc. (TERN) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Product Release","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2467978039"}