In today’s briefing:
- Cara Therapeutics Exploring A Potential Sale But Can It Really Get Acquired? – Financial Forecasts
- Intuitive Surgical (ISRG US): Beat-And-Raise 2Q24; Strong Procedure Growth; Solid Da Vinci 5 Rollout
- Aspira Women’s Health, Inc. – Water Tower Hour Recap
- COCP: Phase 1 Single-Ascending Dose Cohort of CDI-988 Shows it is Safe and Well Tolerated
- LGVN: Alzheimer’s Drug on a Roll with FDA
Cara Therapeutics Exploring A Potential Sale But Can It Really Get Acquired? – Financial Forecasts
- Cara Therapeutics has been trending all over the internet after the company recently decided to explore a potential sale.
- Recent, Cara Therapeutics’ management announced a focus shift toward its most promising project, oral difelikefalin for treating notalgia paresthetica (NP), a chronic neuropathic condition with no currently approved therapies.
- The reallocation of resources toward this program enables Cara Therapeutics to extend its cash runway into 2026, potentially covering all crucial value inflection milestones for the NP program.
Intuitive Surgical (ISRG US): Beat-And-Raise 2Q24; Strong Procedure Growth; Solid Da Vinci 5 Rollout
- Intuitive Surgical (ISRG US) posted another strong quarterly result, with key performance indicators including total revenue, procedure growth, system placement, and EPS beating consensus.
- 2Q24 procedure volume growth was 17% (estimate 15.5%) and accelerated from 16% in 1Q24. Intuitive narrowed full-year 2024 procedure growth forecast to 15.5–17.0%. The company raised gross margin guidance.
- Despite phased rollout, 70 da Vinci 5 systems placement in 2Q24 seems impressive. It represents almost half of the total U.S. placement. In 2H24, placement is expected to increase modestly.
Aspira Women’s Health, Inc. – Water Tower Hour Recap
- OvaWatch mass monitoring completes OvaSuite portfolio.
- With the recent launch of longitudinal or serial adnexal mass monitoring for OvaWatch, physicians and patients could assess ongoing malignancy risk for all women with a mass.
- Collaboration opportunities for biobank. Aspira completed a full inventory of its biobank, identifying about 70K patient samples, which would be available for secondary research and potential collaboration opportunities. The biobank is a significant competitive advantage in developing solutions for ovarian cancer and other gynecologic diseases.
COCP: Phase 1 Single-Ascending Dose Cohort of CDI-988 Shows it is Safe and Well Tolerated
- On July 18, 2024, Cocrystal Pharma, Inc. (COCP) reported favorable safety and tolerability results from the single-ascending dose (SAD) cohorts of the Phase 1 study of CDI-988, the company’s pan-viral protease inhibitor that is being developed as a treatment of norovirus and coronavirus.
- The single center, randomized, double blind Phase 1 trial is evaluating the safety, tolerability, and pharmacokinetics of CDI-988 compared to placebo in healthy adults in doses ranging from 100 mg to 600 mg.
- The results showed that all participants completed the study with no discontinuations and there were no serious adverse events or severe treatment-emergent adverse events.
LGVN: Alzheimer’s Drug on a Roll with FDA
- Longeveron is focusing on using its primary treatment, Lomecel-B, to fight a rare pediatric heart birth defect that devastates families but continues to receive good FDA news regarding its treatment for Alzheimer’s Disease.
- The company announced that Lomecel B has been granted the Fast Track designation by the FDA, only a week after being granted the RMAT designation, which we believe further demonstrates the positive momentum of LGVN.
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