Biotech Hangout's Daphne Zohar, Brad Loncar, Josh Schimmer, Mike Yee & Tim Opler cover the big news: BMS' acquisition of Mirati Therapeutics, 14 biotech acquisitions over $1B, and Illumina ordered to sell Grail after acquisition deal. They discuss data from Akero, Alnylam, Ventyx, Merck, Novo Nordisk, Immunic, and PMV Pharmaceuticals. Takeaways from Jefferies CNS Day and HLTH 2023 are shared.
PMV Pharmaceuticals presented positive data for their P53 corrector at a conference, demonstrating promising overall response rates in multiple tumor types without K-RAS mutations.
Merck's Keytruda showed positive overall survival data in resectable lung cancer, marking the first time a Neo-Adjuvant study with a PD-1 inhibitor has shown an overall survival advantage in this form of cancer.
The Health 2023 conference highlighted the growing importance of AI and technology in healthcare, particularly in the diagnostics sector, which showed promise for significant advancements.
Deep dives
Positive data presented for PMV Pharmaceuticals' P53 corrector
PMV Pharmaceuticals shared positive data from their study of a P53 corrector at a conference. The drug showed promising overall response rates in the 35-40% range in multiple tumor types without K-RAS mutations. Regulatory plans were also announced.
Merck's Keytruda shows positive overall survival in resectable lung cancer
Merck's Keytruda demonstrated positive overall survival data in resectable lung cancer. It is the first time a Neo-Adjuvant study with a PD-1 inhibitor has shown an overall survival advantage in this form of cancer.
Apparent disappointment in PMV Pharmaceuticals' data presentation
After presenting positive data for their P53 corrector, PMV Pharmaceuticals saw a 25% sell-off before the presentation and a further 48% drop afterwards. Expectations may have played a role in this apparent disappointment.
Immunogenomics sees sell-off despite positive interim Phase 2 data
Immunogenomics reported positive interim Phase 2 data for their multiple sclerosis (MS) product, causing a 35% boost in pre-market trading. However, the stock quickly faded, highlighting the current bearish sentiment in the market.
AI and technology showcase at the Health 2023 conference
The Health 2023 conference in Las Vegas highlighted the maturity and growing importance of AI and technology in healthcare. Big pharma companies showed interest, and diagnostics, in particular, showed promise as a growing sector with potential for significant advancements.
On Biotech Hangout this week, hosts Daphne Zohar, Brad Loncar, Josh Schimmer, Mike Yee & Tim Opler discuss biotech sentiment & cover the big news of the week. M&A as a topic including Bristol Myers Squibb to acquire Mirati Therapeutics for $4.8B, plus the 14 biotech acquisitions in 2023 over $1B and Illumina ordered to sell Grail after completing a $7.1B acquisition deal. A lot of data came out this week from companies including Akero, Alnylam, Ventyx, Merck, Novo Nordisk, Immunic and PMV Pharmaceuticals. Mike and Brad also share takeaways from Jefferies CNS Day and HLTH 2023. *This episode aired on October 13, 2023*
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