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Sangamo Therapeutics' shares surged by 36% following Roche's decision to discontinue its gene therapy program for hemophilia A, specifically the SPK-8011 therapy. This marks Sangamo's largest stock increase since October 28. The company is collaborating with Pfizer on a competing gene therapy, giroctocogene fitelparvovec, targeting the same condition.
Sangamo Therapeutics saw its shares soar by 36% after Roche announced the discontinuation of its gene therapy program for hemophilia A, specifically the SPK-8011 therapy. This decision, described as a "strategic decision," follows Roche's acquisition of Spark Therapeutics in 2019. Sangamo is collaborating with Pfizer on a competing gene therapy, giroctocogene fitelparvovec, targeting the same condition.
Roche has received EU approval for a prefilled syringe (PFS) of its ophthalmology drug Vabysmo, designed to treat neovascular age-related macular degeneration, diabetic macular edema, and macular edema following retinal vein occlusion. This PFS offers a convenient administration method for over 9 million affected individuals in the EU and is the first of its kind containing a bispecific antibody for these conditions. Following strong sales growth, the approval is expected to further enhance Roche's revenue amid increasing competition in the ophthalmology market.
Outlook Therapeutics is laying off 23% of its staff following a failed clinical trial for its eye disease treatment, Lytenava, which did not meet its primary endpoint compared to Roche’s Lucentis. Despite this setback, the company plans to pursue FDA approval, citing improvements in vision and safety. Lytenava has received marketing authorization in Europe, with a launch aimed for the first half of 2025.
AbbVie's schizophrenia drug emraclidine failed two mid-phase trials, performing no better than placebo, resulting in a $40 billion market cap loss for the company. This setback follows the recent approval of Bristol Myers Squibb's Cobenfy, the first new schizophrenia drug in decades, which boosted BMS's share price by 12%. The failure raises concerns for other companies developing similar drugs in the same class.
Roche has received approval from the European Medicines Agency for Vabysmo, a 6.0 mg single-dose prefilled syringe, to treat neovascular age-related macular degeneration, diabetic macular edema, and macular edema following retinal vein occlusion. This treatment addresses the needs of over nine million people in the EU, offering a more convenient administration method for ophthalmologists and potentially reducing the treatment burden for patients.
AbbVie has announced its acquisition of a Wisconsin biotech firm for $200 million, continuing its trend of strategic deal-making. The company being acquired is a spin-off from the pharmaceutical giant Roche, further expanding AbbVie's portfolio in the biopharmaceutical sector.
AbbVie has acquired Roche spinout Nimble Therapeutics for $200 million, focusing on oral peptide treatments for autoimmune diseases. The deal includes undisclosed interim payments and potential milestone payments for shareholders. Nimble's lead asset is a preclinical IL23R inhibitor for psoriasis, with additional candidates targeting inflammatory bowel disease and other autoimmune conditions.
Roche Canada has successfully negotiated with the pan-Canadian Pharmaceutical Alliance for TECENTRIQ SC (atezolizumab), marking a significant step towards public access for this cancer immunotherapy. The new subcutaneous formulation offers a quicker administration time and the potential for at-home treatment, benefiting patients with extensive-stage lung and liver cancers. Following a positive recommendation from INESSS, the next phase involves provincial decisions on public reimbursement.
Roche has received EU approval for its Vabysmo prefilled syringe, targeting three retinal conditions that lead to blindness: wet age-related macular degeneration, diabetic macular oedema, and macular oedema following retinal vein occlusion. This ready-to-use formulation complements the existing vial option and aims to challenge Regeneron's Eylea, which currently dominates the market. With Vabysmo's sales surging 324% to $2.64bn, forecasts suggest it could reach $8.78bn by 2030, while Eylea's sales are expected to decline significantly.
Hoffmann-La Roche AG
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