Feb 24, 2016

Posted by in Biotech Stocks | 0 Comments

Biotech stocks for your portfolio – bluebird bio, Inc. (BLUE), Eleven Biotherapeutics, Inc. (EBIO), Agenus Inc. (AGEN)

Biotech stocks for your portfolio – bluebird bio, Inc. (BLUE), Eleven Biotherapeutics, Inc. (EBIO), Agenus Inc. (AGEN)

bluebird bio, Inc. (NASDAQ:BLUE)fell-3.20% to finish at $51.46. bluebird bio, Inc. (NASDAQ:BLUE) on February 17, 2016, announced treatment of the first patient in a Phase 1 study of its product candidate bb2121 in patients with relapsed/refractory multiple myeloma. bb2121 is a chimeric antigen receptor T cell (CAR T) therapy targeting B cell maturation antigen (BCMA), and bluebird bio is developing bb2121 in collaboration with Celgene Corporation. bluebird bio also announced today that Celgene has exercised its option to exclusively license bb2121, under the terms of the collaboration agreement between the two companies.

bluebird bio and Celgene amended and restated their collaboration agreement in June 2015 to focus on developing product candidates targeting BCMA during a three-year collaboration term. By exercising its exclusive option under the terms of the agreement, Celgene will be responsible for worldwide development and commercialization of bb2121 after Phase 1. bluebird bio is responsible for the development of bb2121 through the completion of the CRB-401 Phase 1 study and has an option to share in the development, promotion and profits in the United States. bluebird bio will receive a $10 million option exercise payment from Celgene, and bluebird bio is also eligible to receive specified development, regulatory and commercial milestone payments and royalty payments on net sales.

Eleven Biotherapeutics, Inc. (NASDAQ:EBIO) added +0.36% to close the trading session at $0.31. Eleven Biotherapeutics, Inc. (NASDAQ:EBIO) on January 15, 2016, announced top-line results from the Phase 3 clinical trial of its lead drug candidate, isunakinra (EBI-005), for the treatment of severe allergic conjunctivitis. In this trial, there were no statistically significant differences between the isunakinra treated group and the vehicle control group on the primary endpoint of ocular itching or on any secondary endpoints. Isunakinra was generally well tolerated, with 94% of the patients completing the trial and there were no serious adverse events reported.

The multi-center, double-masked, randomized, vehicle controlled Phase 3 clinical trial was designed to evaluate the safety and efficacy of isunakinra for up to four weeks in patients with moderate to severe allergic conjunctivitis in an environmental setting. A total of 258 patients were randomized 1:1 to receive treatment with isunakinra or with vehicle control.

Agenus Inc. (NASDAQ:AGEN)dropped-6.00% to $2.82. Agenus Inc. (NASDAQ:AGEN) on January 21, 2016, reported that the U.S. Food and Drug Administration (FDA) cleared the company’s investigational new drug (IND) application for AGEN1884, an immune checkpoint modulator (CPM) antibody that binds to cytotoxic T-lymphocyte antigen-4 (CTLA-4). Clearance was also received for a second CPM antibody partnered with Incyte (INCY) for INCAGN1876, which targets glucocorticoid-induced TNFR-related protein (GITR). Clinical trials for both candidates are expected to begin in the first half of 2016.

“We are pleased with the prospects of both CTLA-4 and GITR moving rapidly into and through the clinic, and in our efforts to bring profoundly effective medicines to cancer patients,” said Garo Armen, PhD, Chairman and CEO of Agenus. “We are also diligently advancing several other product candidates into the clinic and are aiming to begin a number of clinical trials in 2016.”

 

 

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