In today’s briefing:
- Brookfield Explores Sovereign Funds for Grifols Takeover Bid
- Argenx SE (ARGX US): Vyvgart Indication Expansion Triggers Rally; Can Competition Play Spoilsport?
- D. Western Therapeutics Institute (4576 JP) – News Flash
- ENSC: Substantial Federal Funds Granted
- MNOV: Phase 3 ALS Readout in 2025
Brookfield Explores Sovereign Funds for Grifols Takeover Bid
- Press reports Brookfield is seeking support from sovereign wealth funds, including those from Abu Dhabi (ADQ) and Singapore (GIC), to back its bid, though discussions remain in the early stages.
- The news about the potential involvement of ADQ and GIC are positive as any support or addition of new investors increases the likelihood of a takeover bid for Grifols.
- The discount is closing accordingly, at mid-session August 30, the share-price spread has tightened to 15.4%, the lowest ever. I suggest maintaining the position long B (or ADR)/short A shares.
Argenx SE (ARGX US): Vyvgart Indication Expansion Triggers Rally; Can Competition Play Spoilsport?
- Argenx SE (ARGX US) won FDA approval for second indication of Vyvgart for chronic inflammatory demyelinating polyneuropathy (CIDP) in June. The approval triggered ~30% rally in the share price.
- Johnson & Johnson (JNJ US) is seeking FDA approval for nipocalimab for generalized myasthenia gravis (gMG). Approved in 2021, Vyvgart dominates the gMG market. In 1H24, Vyvgart fetched $876M revenue.
- Nipocalimab will compete with Vyvgart. However, Argenx has already created a niche for itself and will continue to sit on a prime position due to its first mover advantage.
D. Western Therapeutics Institute (4576 JP) – News Flash
- H-1337 dosing commenced in PIIb clinical trials in the US in Aug-2023.
- The study is a multicenter, randomized, double-blind, active-controlled, dose-finding study investigating the efficacy and safety of H-1337 in patients with glaucoma and ocular hypertension by application of eye drops for 28 days.
- The number of patients is 200 cases in 4 groups: H-1337 0.6% (twice daily), 1.0% (twice daily), 1.0% (once daily), and Timolol (beta blocker drug for efficacy comparison, twice daily).
ENSC: Substantial Federal Funds Granted
- Ensysce Biosciences is committed to finding a solution to the opioid crisis plaguing the US and other developed countries around the world.
- Through its proprietary TAAP technology Ensysce is in the process of receiving approval for an abuse-resistant yet still pain-relieving opioid.
- The company announced that it has received a $14 million grant from the NIH for the continued development of its abuse deterrent opioid-PF614-MPAR.
MNOV: Phase 3 ALS Readout in 2025
- On August 8, 2024, MediciNova, Inc. (MNOV) filed form 10-Q with financial results for the second quarter of 2024.
- The company is conducting a Phase 3 clinical trial of MN-166 (ibudilast) in amyotrophic lateral sclerosis (ALS), which includes 12 months of double-blind treatment plus a six-month open label extension period.
- The primary endpoint is change from baseline in ALSFRS-R at Month 12 and survival time.
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