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Monthly market moves of selected competitors compared to NASDAQ Biotechnology Index (NBI)

ADC Therapeutics

ADCT announced a $100 million PIPE financing, selling 13 million common shares. ADCT intends to use the net proceeds to fund multiple catalysts primarily in support of Zynlonta development. Beyond Zynlonta, the company will advance its preclinical exatecan-based ADC targeting PSMA and will discontinue early development efforts for the remaining preclinical programs in solid tumors. As R&D efforts and related programs are closed out, the company plans to shut down its UK facility and reduce the global workforce across functions by approximately 30%.

Elevation Oncology

Elevation has entered into a definitive merger agreement with Concentra Biosciences, whereby Concentra will acquire Elevation for $0.36 in cash per share, plus one non-tradeable CVR. The Elevation Board of Directors has approved the merger agreement and related transactions.

Mersana Therapeutics

Mersana announced additional interim Phase 1 data for emiltatug ledadotin, the company’s B7-H4-directed Dolasynthen ADC. These data were presented in an oral session at ASCO. Mersana showed 31% confirmed ORR (8 responses in 26 evaluable patients) across B7-H4 high tumors at intermediate doses, and 44% confirmed ORR (7 responses in 16 evaluable patients) in the subset of patients with ≤4 prior lines of therapy.

Sutro Biopharma

Sutro announced the appointment of Greg Chow as CFO, effective June 2. Mr. Chow most recently served as Chief Financial and Business Officer at NodThera, where he played a key role in business development and financing activities.

ImmunityBio

ImmunityBio announced that FDA has granted Expanded Access authorization for the use of its Cancer BioShield platform, anchored by Antkiva, to treat lymphopenia in adult patients with refractory or relapsed solid tumors independent of tumor type who have progressed after first-line treatment.

Mural Oncology

Short interest of Mural dropped by 68 % to 212,773 reported on June 13, compared to 657,864 on May 15.

Nektar Therapeutics

Nektar announced statistically significant data from the 16-week induction period of the ongoing Phase 2b REZOLVE-AD study of investigational rezpegaldesleukin, an IL-pathway agonist and regulatory T-cell (Treg) proliferator. Nektar achieved statistical significance on both primary endpoint and key secondary endpoints at week 16.

Werewolf Therapeutics

Short interest of Werewolf decreased by 17 % to 1,835,810 reported on June 13, compared to 2,223,949 on May 15.

Allogene Therapeutics

Allogene presented updated data from the Phase 1 TRAVERSE study of ALLO-316 in renal cell carcinoma during an oral presentation at ASCO. The Phase 1 trial with ALLO-316 demonstrated potential to provide meaningful clinical benefit in patients with CD70 TPS ≥ 50% advanced or metastatic RCC. A single dose of ALLO-316 achieved a 31% confirmed response rate.

Autolus Therapeutics

Autolus announced updated long-term data (up to approximately three years of follow up) from the FELIX study of obe-cel in adult patients with r/r B-cell ALL in an oral presentation at the EHA congress. Median duration of response in FELIX study now 42.6 months after an additional 11 months of follow up.

Arcellx

Short interest of Arcellx decreased by 12 % to 6,241,013 reported on June 13, compared to 7,126,633 on May 15.

Mustang Bio

Short interest of Mustang decreased by 93 % to 3,845 reported on June 13, compared to 58,835 on May 15.

Immutep

Immutep announced positive initial efficacy data and continued favorable safety data from the Phase 1 study evaluating IMP761, a first-in-class LAG-3 agonist antibody for autoimmune diseases. Initial pharmacological data shows significant T cell suppression and a favorable safety profile at dosing level of 0.9 mg/kg. 

MacroGenics

MacroGenics has entered into a royalty purchase agreement with Sagard in exchange for a capped royalty interest on future global net sales of PD-1 inhibitor Zynyz. MacroGenics received a $70 million upfront payment. Following Sagard’s receipt of aggregate royalty payments totaling $140 million, MacroGenics will resume collecting all future royalties on global net sales.