Oct. 16 - Praxis’ unlikely comeback, bispecific progress in myeloma and kidney drug competition
J&J claims success in study testing earlier Tecvayli use in multiple myeloma; Novartis confirms drug’s benefits in rare kidney disease as competitors loom; Novo wagers up to $2.1B on Omeros’ rare disease drug; California passes laws targeting PBMs, private equity
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Shares of Praxis Precision Medicines more than tripled Thursday, peaking at $200 apiece, after the company disclosed positive data from a pair of late-stage clinical trials.
The result marks a potential advance for dual-targeting antibody drugs like Tecvayli, which are currently relegated to later-line settings for the persistent blood cancer.
The findings position Fabhalta to secure a standard approval in IgA nephropathy — a crowded area of drug research — at a time when newer types of medicines are quickly advancing.
Gov. Gavin Newsom signed an array of healthcare bills into law last week that crack down on pharmacy benefit managers and beef up the review process for deals involving private equity firms.
