Stockwinners Market Radar for November 06, 2022 - Earnings, Upgrades downgrades, option trades, Best Stock Advisory Service

AAPL...

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20:18 EST Fly Intel: Top five weekend stock stories - Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Apple (AAPL) said in a statement Sunday night that, "COVID-19 restrictions have temporarily impacted the primary iPhone 14 Pro and iPhone 14 Pro Max assembly facility located in Zhengzhou, China. The facility is currently operating at significantly reduced capacity. As we have done throughout the COVID-19 pandemic, we are prioritizing the health and safety of the workers in our supply chain. We continue to see strong demand for iPhone 14 Pro and iPhone 14 Pro Max models. However, we now expect lower iPhone 14 Pro and iPhone 14 Pro Max shipments than we previously anticipated and customers will experience longer wait times to receive their new products. We are working closely with our supplier to return to normal production levels while ensuring the health and safety of every worker." 2. Meta Platforms (META) is planning to begin large-scale layoffs this week in what could be the largest round in a recent spate of tech job cuts after the industry's rapid growth during the pandemic, The Wall Street Journal's Jeff Horwitz and Salvador Rodriguez report, citing people familiar with the matter. The layoffs are expected to affect many thousands of employees and an announcement is planned to come as soon as Wednesday, according to the people. Meta reported more than 87,000 employees at the end of September. Company officials already told employees to cancel nonessential travel beginning this week, the people said. 3. Elon Musk officially owns Twitter (TWTR) - and now the hand-wringing about his ability to oversee the rest of his empire has begun again. Of all the concerns around Tesla (TSLA), however, Musk's ability to manage his time is probably furthest down the list, Al Root writes in this week's edition of Barron's. Finding a way to cut costs while generating new revenue from the largest tech leveraged buyout ever is a challenge that will test his problem-solving skills and pull his attention away from Tesla, SpaceX, The Boring Co., and Neuralink, the four other companies he controls, the author notes. Damage to Tesla's brand from the Twitter acquisition might also be a problem, Root writes. 4. DC and Warner Bros.' (WBD) "Black Adam" stayed atop the weekend box office chart with another $18.5M from 3,985 locations for a domestic cume of $137.4M. Globally, the movie has passed the $300M mark as it earned another $25.4M overseas. The film starring Dwayne Johnson has faced little competition, something that is about to change with Marvel and Disney's (DIS) "Black Panther: Wakanda Forever" set to launch next weekend. 5. Progyny (PGNY), MetLife (MET), Pearson (PSO), and BAE Systems (BAESY) saw positive mentions in this week's edition of Barron's.
AMGN

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18:39 EST Amgen presents end-of-treatment data from Phase 2 OCEAN(a)-DOSE study - Amgen presented end-of-treatment data from its Phase 2 OCEAN(a)-DOSE study of investigational olpasiran in adults with elevated lipoprotein(a) levels and a history of atherosclerotic cardiovascular disease. The study was designed to assess safety, tolerability and optimal dose of olpasiran in adults with established ASCVD to reduce Lp(a). OCEAN(a)-DOSE is a multicenter, randomized, double-blind, placebo-controlled dose-finding study of olpasiran in 281 patients with established ASCVD and Lp(a) levels greater than150 nmol/L. Patients were randomized to one of four doses of olpasiran or placebo, given subcutaneously. Across cohorts, the median baseline Lp(a) concentration was 260.3 nmol/L. Patients who received 75 mg or higher every 12 weeks had a 95% or greater reduction in Lp(a) compared to placebo at week 36. At these doses, more than 98% of patients achieved an Lp(a) level of 125 nmol/L or less at week 36. Overall, the rates of adverse events were similar in the olpasiran and placebo arms. The most common treatment-related adverse events were injection site reactions, primarily pain. At week 36, Lp(a) increased by a mean of 3.6% in the placebo arm, whereas there were substantial reductions of Lp(a) levels in all of the olpasiran arms. Placebo-adjusted mean percent reductions were 70.5% for 10 mg every 12 weeks, 97.4% for 75 mg every 12 weeks, 101.1% for 225 mg every 12 weeks and 100.5% for 225 mg every 24 weeks.
AAPL

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18:21 EST Apple sees lower iPhone shipments due to COVID restrictions in China - Apple said in a statement Sunday night: "COVID-19 restrictions have temporarily impacted the primary iPhone 14 Pro and iPhone 14 Pro Max assembly facility located in Zhengzhou, China. The facility is currently operating at significantly reduced capacity. As we have done throughout the COVID-19 pandemic, we are prioritizing the health and safety of the workers in our supply chain. We continue to see strong demand for iPhone 14 Pro and iPhone 14 Pro Max models. However, we now expect lower iPhone 14 Pro and iPhone 14 Pro Max shipments than we previously anticipated and customers will experience longer wait times to receive their new products. We are working closely with our supplier to return to normal production levels while ensuring the health and safety of every worker."
IRTC

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16:42 EST iRhythm announces new health economic analysis of mSToPS study - iRhythm Technologies announced a new health economic analysis of the mSToPS study, presented at the American Heart Association's 2022 Scientific Sessions event. The study, titled "Cost-Effectiveness of AF Screening with Two-Week Patch Monitors: The mHealth Screening to Prevent Strokes Study," evaluated the cost-effectiveness of screening for atrial fibrillation with Zio XT. The analysis found that systematic screening for AFib in an at-risk population with the iRhythm Zio XT patch provided high value from a health economic perspective. mSToPS was a landmark direct-to-participant randomized clinical trial combined with a prospective matched observational cohort study. The study, published in the Journal of the American Medical Association in 2018 and conducted at the Scripps Research Translational Institute in partnership with Aetna and Janssen Pharmaceuticals, found that Zio XT-based screening was associated with increased detection of AFib, greater use of outpatient cardiology care, and a higher rate of initiation of stroke prevention therapy. A three-year follow-up analysis of the mSToPS study, published in PLOS One in 2021, found that screening with Zio XT was associated with a lower rate of clinical events and improved outcomes relative to a matched cohort.
VIR

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16:40 EST Vir presents data on VIR-2218, VIR-3434 potential in chronic HBV infection - Vir Biotechnology announced new data from its hepatitis B virus portfolio aimed at achieving a functional cure. These data, plus health outcomes research, are being presented at the American Association for the Study of Liver Diseases The Liver Meeting in two oral presentations, both of which were selected for inclusion in the "Best of the Liver Meeting" summary, a poster and a late-breaking poster presentation. In one oral presentation, new preliminary data from an ongoing Phase 2 trial demonstrated that 30.8% of participants receiving 48 weeks of VIR-2218, an investigational small interfering ribonucleic acid, initiated concurrently with pegylated interferon alpha, achieved HBsAg seroclearance with anti-HBs seroconversion. Additionally, 48 weeks of VIR-2218 plus PEG-IFN-alpha provided greater reductions in hepatitis B surface antigen compared to VIR-2218 alone or with shorter regimens of the combination. No new safety signals were identified. In a separate oral presentation, new results from Part A of the Phase 2 MARCH trial, including all three cohorts, demonstrated a mean HBsAg reduction of greater than2.5 log10 IU/mL. These data showed that VIR-2218 and VIR-3434, an investigational HBsAg-targeting monoclonal antibody engineered to potentially act as a therapeutic vaccine, are additive in reducing HBsAg. The combination of VIR-2218 and VIR-3434 through up to 20 weeks of treatment in Part A was generally well tolerated. Combining the learnings from the VIR-2218 plus PEG-IFN-alpha trial with these encouraging new results have led to additional cohorts evaluating the triple combination of VIR-2218, VIR-3434 and PEG-IFN-alpha being added to Part B of the MARCH trial. Initial data from Part B are expected in the second half of 2023. Additionally, Phase 1 data presented as a poster demonstrated that a single 75 mg or 300 mg dose of VIR-3434 resulted in rapid reductions in HBsAg and HBV DNA in the majority of viremic participants with chronic HBV infection in the absence of nucleot(s)ide reverse transcriptase inhibitor therapy. Finally, a real-world analysis of 20 years of medical records in the U.S., to be highlighted in a late-breaking poster presentation, revealed that the majority of people with chronic HBV infection remained untreated throughout the study period.
ICPT

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16:35 EST Intercept announces two analyses assessing potential of OCA in PBC - Intercept Pharmaceuticals announced that results from two analyses assessing the potential of obeticholic acid, or OCA, to improve outcomes for patients with primary biliary cholangitis, or PBC, including death, liver transplant and hepatic decompensation, will be presented at The Liver Meeting, the annual meeting of the American Association for the Study of Liver Diseases. The "Efficacy of Obeticholic Acid (OCA) vs. Placebo and External Control (EC) on Clinical Outcomes in Primary Biliary Cholangitis (PBC)" analysis assessed the effect of OCA treatment on time to first occurrence of PBC disease progression, liver transplant or death of OCA-treated subjects in the Phase 3b/4 COBALT trial compared to placebo and compared to a non-OCA-treated external control group created from the Komodo Health U.S. claims database. COBALT was a randomized, double-blind, placebo-controlled confirmatory trial designed to assess efficacy and safety of OCA in patients with advanced PBC. As previously disclosed, the study was terminated in December 2021, before it was fully enrolled, for lack of feasibility. The placebo-controlled analysis of COBALT showed no statistically significant difference in either the Original Primary Composite Endpoint or the FDA Expanded Primary Endpoint, which also included additional liver-related events. In anticipation of feasibility challenges, the COBALT analysis plan included an EC group as a second comparator arm. The EC group, created from Komodo Health claims database, had to meet COBALT inclusion and exclusion criteria and were weighted using propensity score-derived standardized morbidity ratios. The EC group was comparable to OCA-treated patients in COBALT on all measured baseline variables. Endpoints in this comparison were the same as in the primary analysis of the COBALT trial to the extent possible; however certain variables, such as MELD, were not available in the Komodo database and thus not included. Results from the EC group as-treated analysis showed statistical significance in both the original and the FDA-expanded primary endpoints comparing the OCA-treated subjects in COBALT with the non-OCA-treated patients in EC: From the Original Primary Composite Endpoint: 17 events occurred in subjects in the COBALT OCA arm and 35 in patients from the non-OCA-treated EC arm, reflecting a 61% reduction in risk of events at any time during follow-up. From the FDA Expanded Primary Endpoint: 28 events occurred in subjects in the COBALT OCA arm and 46 in patients from the non-OCA-treated EC arm, reflecting a 52% reduction in risk of events at any time during follow-up. HEROES-US leveraged the Komodo Health database in a fully real-world study to assess the potential benefits of OCA treatment on death, liver transplant and hospitalization for hepatic decompensation in PBC patients with compensated liver disease. The study looked at a pre-defined group of patients with PBC who were treated with OCA and a comparable group of PBC patients who were eligible, but who were not treated with OCA. Characteristics of patients who initiated treatment with OCA were SMR-weighted to OCA-eligible patients not treated with OCA. A statistically significant and clinically meaningful reduction in all-cause death, liver transplant, or hospitalization for hepatic decompensation was seen among OCA-treated patients compared to the control group who were not treated with OCA. Treatment with OCA resulted in a 63% reduction in relative risk for death, liver transplant and hospitalization for hepatic decompensation. Results were consistent with those observed for comparable endpoints in the POISE trial open-label extension vs. Global PBC patient registry external controls, and the COBALT trial vs. Komodo EC.
VERA

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09:30 EST Vera Therapeutics presents new analysis of Phase 2a JANUS trial - Vera Therapeutics announced new clinical data presented on the company's two product candidates, atacicept in immunoglobulin A nephropathy and MAU868 in kidney transplant. These data were presented in poster and oral presentations, respectively at the American Society of Nephrology Kidney Week 2022 Annual Meeting, held November 3-6, 2022 in Orlando, Florida. The poster presentation on atacicept included a new analysis of previously presented clinical data from the Phase 2a JANUS clinical trial evaluating atacicept in patients with IgAN that showed atacicept reduced immune complex levels in patients with IgAN. Atacicept is the first therapeutic to show reduction in all of the first three hits of IgAN pathogenesis - serum galactose-deficient IgA1, anti-Gd-IgA1, and now immune complex levels. The oral presentation on MAU868 included final results from the Phase 2 clinical trial of MAU868 versus placebo to treat BK Virus in kidney transplant patients that showed MAU868 was well tolerated and demonstrated clinically meaningful BK antiviral activity through 36 weeks in kidney transplant patients with BK viremia. The Phase 2a randomized, placebo-controlled JANUS trial showed that atacicept was the first therapeutic to decrease circulatory Gd-IgA1 in IgAN patients and further analysis of these results showed that atacicept reduced anti-Gd-IgA1 antibodies. This analysis investigated whether atacicept can also reduce serum immune complexes. JANUS patients were evaluated for serum IgA-IgG immune complex levels by ELISA at baseline, weeks 4, 12, 24, 48, and 72. Results showed a decrease in serum IgA-IgG immune complex levels was observed in both atacicept 25 mg and 75 mg groups over time. The 150 mg dose was not evaluated in the JANUS trial. At 24 weeks, the mean percent change from baseline was a 17 percent decrease for atacicept 25 mg and a 21 percent decrease for atacicept 75 mg, and a three percent decrease for placebo. At 72 weeks, a 29 percent decrease for atacicept 25 mg, 26 percent decrease for atacicept 75 mg, and 13 decrease for placebo was observed. This Phase 2, randomized, double-blind, placebo-controlled clinical trial evaluated the safety and efficacy of MAU868 in patients who received a kidney transplant within one year of enrollment and, within 10 days of enrollment, had BK viremia. Patients received MAU868 or placebo intravenously every 28 days for 12 weeks, with 24 weeks follow-up. In this clinical trial, 20 patients received MAU868 and eight patients received placebo; all patients completed 12 weeks of treatment. Baseline characteristics were comparable between groups. The primary endpoint was safety and tolerability; antiviral activity was assessed in secondary and post-hoc analyses. This analysis reported efficacy results at 16 and 36 weeks for two cohorts: MAU868 1350 mg IV x4 doses, and MAU868 6750 mg IV followed by MAU868 1350 mg IV x3 doses. Results showed that the antiviral effect was higher in the MAU868 group than the placebo group at week 16 and sustained through week 36. Further, MAU868 was well tolerated, with a comparable frequency of adverse events and serious adverse events between groups through week 36. There were two deaths in the MAU868 group due to COVID-19 infection deemed unrelated to study drug.
NTLA REGN

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09:28 EST Intellia presents interim data from cardiomyopathy arm of Phase 1 study of '2001 - Intellia Therapeutics (NTLA) presented additional interim results from an ongoing Phase 1 clinical trial of NTLA-2001, an investigational, in vivo CRISPR/Cas9 genome editing therapy in development as a single-dose treatment for transthyretin amyloidosis in collaboration with Regeneron Pharmaceuticals (REGN). Results were presented in a Late-Breaking Science oral presentation at the American Heart Association Scientific Sessions 2022, held November 5 - 7 in Chicago, Illinois. The interim data from the dose-escalation portion of the Phase 1 study include 12 adult patients with ATTR amyloidosis with cardiomyopathy with New York Heart Association Class I - III heart failure. The data presented were as of a data cutoff date of August 25, 2022. Single doses of 0.7 mg/kg and 1.0 mg/kg of NTLA-2001 were administered via a single intravenous infusion, and the change from baseline in serum transthyretin protein concentration was measured for each patient. Administration of NTLA-2001 led to deep and durable reductions in serum TTR by day 28. These deep reductions in serum TTR were sustained through the observation period, with patient follow-up ranging from four to six months. These data highlight NTLA-2001's potential as a one-time treatment to permanently inactivate the TTR gene and reduce the disease-causing protein in people with ATTR-CM. At both dose levels, NTLA-2001 was generally well tolerated. As previously reported, two of 12 patients reported transient infusion reactions, which were the only observed treatment-related adverse events. One patient in the 0.7 mg/kg dose NYHA Class III cohort experienced a Grade 3 infusion-related reaction, which resolved without clinical sequalae. Per the study protocol, this group was subsequently expanded from three to six patients to further characterize safety at this dose level. No additional patients in the 0.7 mg/kg dose NYHA Class III cohort reported a treatment-related adverse event. No clinically significant laboratory abnormalities were observed at either dose level. The Phase 1 study, run by Intellia as the program's development and commercialization lead as part of a multi-target collaboration with Regeneron, is evaluating NTLA-2001 in patients with either ATTR-CM or hereditary ATTR amyloidosis with polyneuropathy. Dosing at 55 mg, the fixed dose corresponding to 0.7 mg/kg, is ongoing in Part 2, the dose-expansion portion of the study. Intellia remains on track to complete, by the end of this year, planned enrollment of both arms of the Phase 1 study that will inform the dose selection for subsequent pivotal studies.
ETNB

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09:25 EST 89bio presents additional exploratory analyses from Phase 1b/2a NASH study - 89bio announced the presentation of post-hoc exploratory analyses of additional data from the paired-biopsy, open-label expansion cohort in the Phase 1b/2a proof-of-concept study evaluating pegozafermin in patients with nonalcoholic steatohepatitis. These data were featured in a poster presentation at the American Association for the Study of Liver Diseases. In this open-label cohort, NASH patients were treated once weekly for 20 weeks with 27 mg of pegozafermin. For the primary analysis, biopsies were read centrally at baseline and at end of treatment by a single expert liver pathologist. In a post-hoc exploratory analysis, a panel of three additional expert NASH pathologists assessed the same baseline and end of treatment slides that had been evaluated by the central reader. The expected inter-reader variability common in NASH studies was observed. The three-reader panel scored six of the 19 patients as having F4 fibrosis at baseline, which was an exclusion criterion for the Phase 1b/2a study. Excluding the putative F4 patients resulted in a higher proportion of patients meeting the registration enabling histological endpoints compared to the primary analysis based on the central reader.
LXRX

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09:21 EST Lexicon presents post hoc analysis of results from SCORED Phase 3 outcomes trial - Lexicon Pharmaceuticals announced that a new post hoc analysis of results from the SCORED Phase 3 outcomes trial of sotagliflozin, an investigational dual SGLT1 and SGLT2 inhibitor, was presented at the American Society of Nephrology Kidney Week 2022 annual scientific meeting in Orlando, Florida. The presence of albuminuria in patients with or without diabetes is associated with an increased risk for adverse renal and cardiovascular outcomes. Urine albumin-to-creatinine ratio is commonly used as a surrogate to assess kidney risk. SCORED was a multi-center, randomized, double-blinded, placebo-controlled Phase 3 study evaluating the cardiovascular efficacy of sotagliflozin versus placebo when added to standard of care in 10,584 patients with type 2 diabetes, chronic kidney disease with eGFR of 25 to 60 ml per minute per 1.73 m2 of body-surface area, and risks for cardiovascular disease. The primary endpoint was the total number of events comprised of deaths from cardiovascular causes, hospitalizations for heart failure, and urgent visits for heart failure in patients treated with sotagliflozin compared with placebo. Key secondary endpoints included total number of events of deaths from cardiovascular causes, non-fatal myocardial infarction, and non-fatal stroke. SCORED achieved its primary endpoint, with overall tolerability similar to placebo. Results were presented at the Late-Breaking Science Session of the American Heart Association Scientific Sessions 2020 and simultaneously published in The New England Journal of Medicine in an article titled: "Sotagliflozin in Patients with Diabetes and Chronic Kidney Disease."
SLN

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09:16 EST Silence Therapeutics presents new analysis from SLN360 Phase 1 single dose study - Silence Therapeutics presented data from an analysis of its APOLLO phase 1 single dose study of SLN360, an investigational short interfering ribonucleic acid, in healthy adults with high lipoprotein, a key genetic risk factor for heart disease, at the American Heart Association 2022 Annual Meeting. In the top two SLN360 single dose groups median time-averaged Lp(a) reductions over 150 days exceeded 80%. At day 365, some participants still exhibited substantial knockdown of Lp(a) to approximately 50% of baseline. Additionally, extension data to day 365 showed no new drug related safety findings in either dose group. Primary safety, tolerability and Lp(a) lowering effects from the APOLLO single dose study were presented earlier this year and published in the Journal of the American Medical Association. In the trial, participants who received single doses of SLN360 saw median maximal reductions of 96% and 98% respectively. High Lp(a) is estimated to affect up to 20% of the world's population and is a known, independent risk factor for cardiovascular disease. There are no approved medicines that selectively lower Lp(a). Silence is evaluating SLN360 in the multiple dose portion of the APOLLO phase 1 study in patients with stable atherosclerotic cardiovascular disease and high Lp(a). The company plans to initiate the SLN360 phase 2 ASCVD study in the second half of 2022, pending regulatory discussions.