Aug. 26 Quick Takes: Takeda ends Finch deal
Plus 89bio rises on pegozafermin data and expanded label for Incyte’s Pemazyre
Finch Therapeutics Group Inc. (NASDAQ:FNCH) is exploring collaboration opportunities for its FIN-524 and FIN-525 programs after Takeda Pharmaceutical Co. Ltd. (Tokyo:4502; NYSE:TAK) terminated a deal it had to develop the microbiome product candidates, which it was studying to treat ulcerative colitis and Crohn’s disease. Finch said the move came after a Takeda pipeline review, but gave no further reason for the deal’s end. Finch, which received $44 million in the course of the collaboration, had $105 million cash on June 30 and burned $23 million in 2Q22. It closed down $0.11 to $2.53.
89bio Inc. (NASDAQ:ETNB) followed up its June readout of the Phase II trial of pegozafermin to treat severe hypertriglyceridemia with data showing that levels of apo-B100 fell at weekly doses of 9, 18 and 27 mg of the FGF21 analog, as did levels of apo-B48 at 9 and 27 mg. Apo-B is the main protein found in low-density lipoproteins and transports fat molecules around the body. 89bio is also studying pegozafermin to treat non-alcoholic steatohepatitis (NASH). The company’s stock rose $0.22 to $4.95 on Friday...