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MyoKardia Begins Dosing in Phase I Study on Heart Candidate

Zacks Equity Research

MyoKardia, Inc. MYOK announced that it has dosed the first patient in a phase I study evaluating its pipeline candidate MYK-224 for the treatment of hypertrophic cardiomyopathy (HCM). Top-line data from the study is expected in mid-2020.

The early-stage study will evaluate the safety, tolerability and pharmacokinetics of MYK-224 for treating HCM, a progressive disease wherein excessive contraction of the heart muscle and reduced ability of the left ventricle to fill blood lead to cardiac dysfunction, such as heart failure and sudden cardiac arrest.

Per the company, patients experiencing symptoms of HCM presently have no adequate pharmacologic treatment options to access. MYK-224 looks to address this issue with its distinct physicochemical properties that may provide dosing with certain advantages for the given patient population.

Shares of MyoKardia have rallied 14.1% so far this year versus the industry’s decline of 1.2%.

MyoKardia is a clinical stage biopharmaceutical company that discovers and develops therapies for the treatment of rare cardiovascular diseases.

The company uses precision medicine approach to develop its therapeutic candidates for addressing such patient populations. Apart from MYK-224, MyoKardia has two pipeline candidates in its portfolio, namely mavacamten and MYK-491, which are in mid-to-late-stage development for treating HCM and dilated cardiomyopathy (DCM), respectively.

MyoKardia’s lead therapeutic candidate for HCM is mavacamten. It is currently being evaluated in the phase III EXPLORER-HCM study for treating obstructive HCM and a phase II MAVERICK-HCM study for non-obstructive HCM. Top-line data from the EXPLORER-HCM study is expected in the second quarter of 2020 while the same from the MAVERICK-HCM study is expected later this year.

Meanwhile, the company is evaluating MYK-491 in phase IIa multiple-ascending dose study for addressing patients with stable systolic heart failure. Data from this study is also anticipated later this year.

Zacks Rank & Stocks to Consider

MyoKardia currently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the healthcare sector include Alexion Pharmaceuticals, Inc. ALXN, Compugen Ltd. CGEN and Alder BioPharmaceuticals, Inc. ALDR, all carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Alexion’s earnings estimates have been revised 4.2% upward for 2019 and 2.1% for 2020 over the past 60 days. The stock has rallied 18% year to date.

Compugen’s loss per share estimates have been narrowed 16.7% for 2019 and 16.3% for 2020 over the past 60 days. The stock has soared 83% year to date

Alder BioPharmaceuticals’ loss per share estimates have been narrowed 6.8% for 2019 and 2.6% for 2020 over the past 60 days.

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