Feb. 2 Quick Takes: Immunovant tumbles as it pauses trial; plus BMS, Legend-J&J, Arcutis, Prothena, VBI, Travere, Concert and Adamas
Immunovant Inc. (NASDAQ:IMVT) lost 42% to $25.08 on Tuesday after announcing it was pausing trials of anti-FCRN mAb IMVT-1401 (batoclimab) due to elevated total cholesterol and LDL signals in the Phase IIb ASCEND GO-2 thyroid eye disease trial. Harbour BioMed, which holds rights to IMVT-1401 in Greater China, has not seen similar cholesterol increases in trials in Chinese patients with myasthenia gravis or idiopathic thrombocytopenia purpura.
Second pivotal psoriasis success for BMS tyrosine kinase inhibitor
Bristol Myers Squibb Co. (NYSE:BMY) said deucravacitinib met the co-primary endpoints in the Phase III POETYK PSO-2 study, the second pivotal trial of the oral TYK2 inhibitor to treat moderate to severe plaque psoriasis. The company also said FDA accepted its sNDA for Zeposia ozanimod to treat moderate to severe active ulcerative colitis. BMS used a priority review voucher for the S1P receptor modulator, which has a May 30 PDUFA date. ...