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Tag: ABIO

  • ARCA Biopharma Inc. (ABIO) stock Collapse on Disappointing Results of its Covid-19 Trial

    ARCA Biopharma Inc. (ABIO) stock Collapse on Disappointing Results of its Covid-19 Trial

    While the momentum of the Covid-19 pandemic has somewhat calmed down, the virus is still at large with no actual cure. With new variants being diagnosed since the outbreak dawned back in 2019, the latest sub-variant of Omicron is much more infectious. Reports of the resurgence of the virus in many countries have sparked another rally of lockdowns and restrictions. While many pharmaceutical companies are working on prevention regimens like vaccines others are finding a cure for the progressed disease.

    Where Does ABIO Stand in the Race?

    Source: US FDA

    One of the biopharmas working on the treatment for covid-19 patients is ARCA Biopharma Inc. (ABIO). The clinical-stage biopharmaceutical company has been evaluating its rNAPc2 inhibitor in patients hospitalized with the virus. Concluding the ASPEN-COVID-19 phase 2b clinical trial, ABIO reported its topline results on March 31, 2022. Unable to reach statistical significance and primary endpoint, the results impacted ABIO stock with a blow of 27.83% in the after-hours on Thursday. Thus, the stock plunged down to a new low of $1.66 per share in the after-hours session. The earlier regular session had the stock trending at $2.30 per share with a mild loss of 0.86% at the close.

    ASPEN-COVID-19’s Topline Data

    In phase 2b randomized international clinical study, ASPEN-COVID-19’s topline data did not prove much difference from the standard of care heparin. While both the assessed dose regimens of rNAPc2 reported certain benefits for patients, none achieved the endpoint. Both the doses failed to reach statistical significance over heparin in order to reach the primary efficacy endpoint of the trial.

    Dr. Michael Bristow, ABIO’s president, and CEO shared his disappointment over the results while Dr. Marc Bonaca found the valuations in more severely ill patients exciting. Dr. Bonaca is the executive director of The Colorado Prevention Center and professor of Medicine at the University of Colorado as well as part of the ASPEN study Executive Committee.

    Therefore, while still keeping further development of its asset in mind, ABIO is currently evaluating its options including partnerships.

    ABIO’s Financial Overview

    Marking some improvement YOY, the company’s 2021 net loss per share reduced to $1.39 against $2.07 in the previous year. The total net loss stood at $19.3 million for fiscal 2021.

    Moreover, the year’s R&D expenses were $13.8 million while G&A expenses stood at $5.5 million.

    Having ended the year with cash and cash equivalents of $53.4 million, ABIO believes it to run its operations smoothly into the middle of 2023.

  • Top Biotech Stocks to Watch as Equities Rally

    Top Biotech Stocks to Watch as Equities Rally

    The markets are up this morning driven by a combination of COVID-19 vaccine excitement, and China-related news. On COVID-19 vaccine news, the announcement by AstraZeneca that it was restarting its late-stage COVID-19 vaccine trial is still exciting the market. Given that this is one of the most promising vaccine candidates in the market, investors are taking the latest development as a sign of good things to come. The excitement stems from the fact that a COVID-19 vaccine can lead to a revamp of the economy, due to a resumption of consumer spending.

    The U.S economy thrives on consumer spending and a return to pre-COVID-19 levels of spending would see the stock market’s rally again as investors throw money more confidently at the stock markets. On China, the country has reported positive data on industrial production and retail sales. The country has stated that industrial production increased by 5.6%, while retails grew by 0.5%. Given how important China is to the global economy, the growth data points to both economic resilience, and a potential bounce back in the world economy once a vaccine is found.

    As optimism rises in the markets, biotech stocks are leading the way in early morning gains. Some of the top stock performers ahead of markets are as below:

    Novus Therapeutics Inc [NASDAQ: NVUS]

    This stock is gaining quite strongly pre-market and is up by over 150%. This follows the company’s announcement that it was buying privately-held Analixis Therapeutics Inc. Through the acquisition, the company will have access to compound AT-1501, a next-gen anti-CD40L antibody.

    Once developed, it will be used for organ and cellular transplants, when treating autoimmune and neurodegenerative diseases. The company will also inherit Anelixis senior management that has lots of experience in drug development and commercialization. Commenting on the deal, board chairman Keith A. Katkin stated that the acquisition would deliver value to Novus shareholders.

    Marinus Pharmaceuticals Inc [NASDAQ: MRNS]

    Marinus Pharmaceuticals Inc is another top performer this morning and is up by over 60%. This follows the company’s announcement that Ganaxolene has met its primary endpoint in the company’s phase 3 trial for CDKL5 deficiency disorder The Company has also announced that the treatment was well-tolerated and that it had a discontinuation rate of under 5%.

    ARCA Biopharma Inc [NASDAQ: ABIO]

    ARCA Biopharma is another top performer this morning and is up by over 20%. This is largely price action-driven, and comes a month after the company announced that it had completed its FDA pre-IND consultation for its severe COVID-19 treatment. The company expects to submit its IND this month ahead of its phase 2b clinical trials.