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Biogen
They released a phase 3 clinical trial summary indicating statistical improvement on a certain Alzheimer's progression scale. But of course, they did not release the data. (this all sounds so very familiar...) Also, the drug requires 6-18 months before the patient sees any supposed benefit and the benefit is based on a Richter scale-like measurement of an esoteric Alzheimer's gauge.
They report "27%" improvement, which sounds good in absolute terms, but when sliding 27% down the Richter scale from an 8.0 Earthquake to a 5.8...that's a vast improvement, while sliding from 3.0 to 2.2 is almost irrelevant.
Considering their track record, we should presume this is the entirety of good news (because why would they hold that back?) and the bad news will come in November. Did you know this drug failed its phase 2 trial?
With all that, we think anyone ought to see all the data before reacting. Fool me once. But of course the stock leapt 35% on this news. #notmymoney
Team Roast – GentiBio
If you put the call out to the entire company asking for photo submissions, you’re gonna get some doozies. And you’re gonna get a lot of food apparently.
The people of GentiBio sent in a cornucopia including all sorts of Asian cuisine - dim sum, sushi, hot pot, Korean hotteok. But also some employees demonstrated their enjoyment of American delicacies, such as ice cream and juice box.
Food isn't the main attraction - that honor would go to picturesque outdoor vistas. Because if you don't share a picture, it didn’t happen!
And how many opted for a mid-air, jumping pic? Three too many.
RS BioTherapeutics
Just when you thought you had seen all the creative names for funding rounds, this company comes along and invents the “Seed II” round. They're not the first company that fails to understand the concept of a seed, and they won't be the last.
Phases
We list 2321 drug companies based in the US. Here’s where they are with their lead product:
Commercialized: 260 (11.2%)
Submitted for Approval: 32 (1.3%)
Phase 3: 213 (9.2%)
Phase 2: 508 (21.9%)
Phase 1: 325 (14.0%)
Preclinical: 417 (18.0%)
RD: 559 (24.1%)
A bit surprising that there were more in phase 2 than phase 1. Is that pandemic related? Who knows.
The collective number of companies not yet in the clinic was 42%. And 89% of drug companies do not have a product approved.
That’s why we always chuckle when people ask if we have revenue numbers for the drug companies we list. We don't, but if we did, it would mostly say $0.
Team Roast - Targazyme
Targazyme is putting on a master class here when it comes to cobbling together bad pictures for a team page. Several have hair cropped, one not looking at camera, one wearing sunglasses, two blurry. And what is the deal with that “Junior CFO”. Is he merely a Debt Deluge merit badge away from being a real CFO?
Summer Bio
So many Covid testing companies came out of nowhere for that government-subsidized gold rush. Some were scammy, but most actually filled a societal need.
Since we aren’t testing as much now, they couldn’t all survive. But we’re so used to seeing businesses turn into zombies and refuse to die even when the business case for their existence has vanished. That’s why Summer Bio is a breath of fresh air. They put a statement on their website saying there is no more need for what they do, so they are outta here. *mic drop*
GH Research
Great website design of the week: black writing with a black mountain as the background. Someone had to have used the website, yet no one said anything to the designers?
Star Power for Flu Vaccine
Actor Jason Alexander, known for his virtuoso performance as concierge Robert Grant in cinematic masterpiece, Dunston Checks In, has joined the fight to encourage people to get their flu vaccines with the “Not Today, Flu” vaccine campaign.
To be brutally honest, it sucks. The lines are lame and the costumes are atrocious. Would have been more timely to dress him up as Henry the Eighth.
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