NEW YORK, NY / ACCESSWIRE / October 12, 2017 / Both Akari Therapeutics and Seattle Genetics saw their shares climb higher on Wednesday after the companies had encouraging news about clinical trials. While Akari announced that new patients have been rolled in a trial of its lead drug candidate Coversin, Seattle Genetics announced two clinical collaboration agreements for the evaluation of SGN-LIV1A.
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Seattle Genetics, Inc.
Akari Therapeutics' shares closed up 22.72% on Wednesday with nearly 2.3 million shares traded compared to an average of just around 333,000 shares. The biopharma company announced that three additional patients are now enrolled in the company's ongoing Phase II COBALT clinical trial of Coversin. The trial has enrolled a total of eight patients with paroxysmal nocturnal hemoglobinuria (PNH). One patient was withdrawn however on day 43 due to co-morbidity that was unrelated to the treatment. Coversin is the company's lead drug candidate. It is a C5 complement inhibitor currently being evaluated in paroxysmal nocturnal hemoglobinuria (PNH) and atypical hemolytic uremic syndrome (aHUS).
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Seattle Genetics, Inc.'s shares closed up 6.51% with nearly 3.5 million shares traded. The stock started drifting higher after the company announced two clinical collaboration agreements for the evaluation of SGN-LIV1A in patients with triple negative breast cancer. SGN-LIV1A targets the cell surface protein LIV-1, which according to the company's press release is expressed on multiple solid tumors including breast, prostate, melanoma, ovarian, and cervical cancers. Chief Medical Officer and Executive Vice President of Research and Development, Jonathan Drachman, M.D., commented, "Our new collaborations expand the clinical investigation of SGN-LIV1A by evaluating this ADC in earlier lines of treatment for TNBC, including the frontline setting in combination with pembrolizumab. In the neoadjuvant setting, SGN-LIV1A has the potential to benefit a broader population of women with breast cancer."
"Breast cancer is the most common cancer in women, excluding some forms of skin cancer, in the United States. Of the over 250,000 new cases expected to be diagnosed in the US this year, about 15 to 20 percent are TNBC, which is very aggressive and associated with poor patient outcomes. With four clinical studies underway or planned for SGN-LIV1A in TNBC, we are advancing our goal to improve the health of women with this devastating disease."
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