Biotech Alert: Searches spiking for these stocks today

These names in the biotech sector are seeing a substantial increase in search activity today, as determined by InvestingChannel. They include: 

• Bio-Path Holdings (BPTH), 756% surge in interest
• Bellerophon (BLPH), 418% surge in interest
• Redhill Biopharm (RDHL), 336% surge in interest
• Cassava Sciences (SAVA), 110% surge in interest
• Geron Corp (GERN), 85% surge in interest
• Evofem Biosciences (EVFM), 58% surge in interest

Pipeline and key clinical candidates for these companies:

Bio-Path is developing DNAbilize, a technology that has yielded a pipeline of RNAi nanoparticle drugs that can be administered with an intravenous transfusion. Bio-Path’s lead product candidate, prexigebersen , or BP1001, is in a Phase 2 study for blood cancers and BP1001-A, a drug product modification of prexigebersen, has been cleared by the FDA and Phase 1 studies in solid tumors will commence in 2022. The company’s second product, BP1002, is being evaluated for the treatment of blood cancers and solid tumors, including lymphoma and acute myeloid leukemia. In addition, an IND is expected to be filed for BP1003, a novel liposome-incorporated STAT3 antisense oligodeoxynucleotide developed by Bio-Path as a specific inhibitor of STAT3, in 2022 or Q1 of 2023.

Bellerophon Therapeutics is focused on developing therapies that address significant unmet medical needs in the treatment of cardiopulmonary diseases. The company is currently developing multiple product candidates under its INOpulse program, a proprietary pulsatile nitric oxide delivery system.

RedHill Biopharma is primarily focused on gastrointestinal and infectious diseases. RedHill promotes the gastrointestinal drugs, Movantik for opioid-induced constipation in adults, Talicia for the treatment of Helicobacter pylori infection in adults, and Aemcolo for the treatment of travelers’ diarrhea in adults.

Cassava Sciences is a clinical-stage biotechnology company that says its mission is to detect and treat neurodegenerative diseases, such as Alzheimer’s disease. “Its novel science is based on stabilizing-but not removing-a critical protein in the brain. The company’s product candidates have not been approved by any regulatory authority, and their safety, efficacy or other desirable attributes have not been established,” Cassava has stated.

Geron is a late-stage biopharmaceutical company pursuing therapies with the potential to extend and enrich the lives of patients living with hematologic malignancies. Its investigational first-in-class telomerase inhibitor, imetelstat, “harnesses Nobel Prize winning science in a treatment that may alter the underlying course of these diseases,” the company says.

Evofem Biosciences is developing and commercializing innovative products to address unmet needs in women’s sexual and reproductive health. The company’s first FDA-approved product, Phexxi, is a hormone-free, on-demand prescription contraceptive vaginal gel.

Recent news on these stocks:

October 13

RedHill Biopharma filed to sell 8.86M American Depositary Shares for holders, representing 3.54M ordinary shares.

Cassava Sciences issued the following statement regarding an internal report purportedly prepared by City University of New York, or CUNY. “This report was leaked to the press. The leak of the CUNY report was preceded by a 40% increase in short selling activity in the stock of Cassava Sciences. Beginning August 2021, short sellers executed a brutal, widely publicized “short-and-distort” campaign against Cassava Sciences. The short-sellers alleged that Cassava Sciences and its academic researcher at CUNY had engaged in data manipulation and other forms of research misconduct. In response to these allegations, CUNY initiated an internal investigation in Fall 2021. In 2022, Cassava Sciences filed a lawsuit against certain individuals who participated in the short-and-distort campaign, identifying over 1,000 false and defamatory statements. On October 12, 2023, Science reported that it had obtained a copy of CUNY’s report from “a person who requested anonymity because they are not authorized to share it.” The Science article quotes a person paid by a lawyer for certain short-sellers, but does not indicate what role, if any, short-sellers had in the leak. According to Science, CUNY completed its investigation in May 2023. The short interest in Cassava Sciences’ stock jumped 40%, to over 14 million shares, between June 30, 2023, and September 29, 2023, according to Nasdaq. CUNY’s report makes no findings of data manipulation. Rather, the “egregious misconduct” cited in the report relates exclusively to internal record-keeping failures at CUNY. The report also finds that internal record-keeping failures “prevented us (CUNY) from making an objective assessment” of the allegations of research misconduct.”

October 12

Theodore Wang notified the board of Bellerophon Therapeutics of his resignation as a member of the company’s board, effective immediately. The resignation of Wang from the board was due to a disagreement as to whether the company’s board should approve the plan of liquidation and dissolution of the company.

Hear more from InvestingChannel by signing up for The Spill.

About “Biotech Alert”

The Fly will report on a selection of biotech stocks seeing a surge in interest from retail and financial professional investors, based on data from InvestingChannel.

This Fly exclusive recap reveals the biotech stocks that are seeing a spike in searches among the 20-plus million retail and financial professional investors through InvestingChannel’s online financial news media ecosystem.

This increased attention from the investors may be in response to, or advance of, outsized moves for stocks in the biotech sector, which tend to be volatile and prone to sharp swings in share price around binary events such as clinical study results and FDA approvals.