Biotech Headliners

February 27, 2024

DENVER, Colo., Feb 27, 2024 (247marketnews.com)- The following companies are mentioned; Codexis (NASDAQ:CDXS), Kraig Biocraft Laboratories (OTCQB:KBLB), Janux Therapeutics (NASDAQ:JANX), TransMedics Group (NASDAQ:TMDX), and Viking Therapeutics (NASDAQ:VKTX)

Codexis, Inc. (NASDAQ:CDXS) announced, after, yesterday’s market close, it entered into an exclusive, global license agreement with Roche (OTCQX:RHHBY), for Codexis’s newly engineered double-stranded DNA (dsDNA) ligase for next-generation sequencing (NGS) library preparation and the Company’s EvoT4 DNA ligase.

The deal supersedes the prior exclusive license on the EvoT4 DNA ligase and calls for Codexis to receive upfront and technical milestone payments.

“This transaction is the latest example of our ongoing commitment to focusing on the core areas of our business where we have the biggest opportunity to create impact in the market,” said Kevin Norrett, MBA, Chief Operating Officer of Codexis. “Since announcing our prioritized strategy last July, we’ve executed multiple deals to monetize our non-core assets with market-leading companies. We are excited to collaborate again with Roche on this novel, dsDNA ligase. As a leader in NGS technologies, Roche continues to bring important kits to market that provide the sensitivity and specificity required for the next wave of innovative NGS applications. With Roche’s technical ability and commercial reach, we now have the ability to maximize the potential of our dsDNA ligase.”

Kraig Biocraft Laboratories (OTCQB:KBLB) stated, this morning, that its new BAM 1 hybrid achieved homozygosity, for the spider silk gene in both of the parental strains, which  for its new production hybrid. Establishing homozygosity for the targeted gene in both parental strains means that its new production platform is optimized for recombinant spider silk production.

The BAM 1 hybrid is the Company’s latest recombinant spider silk production technology and achieving homozygosity for both BAM 1 parental strains is another significant milestone, as homozygosity results in higher levels of spider silk protein expression.

“Our team set an aggressive deadline for achieving homozygosity in the BAM 1 hybrid ahead of our spring production trials,” said CEO and Founder, Kim Thompson. “Today, I am pleased to report they met that goal and that BAM 1 hybrids, which will be our primary production strain for the upcoming production season, is now optimized for recombinant spider silk expression. Our team continues to hit its marks, and I am looking forward to a very exciting year for Kraig Labs and the commercial launch of our revolutionary spider silk technology.”

Janux Therapeutics, Inc. (NASDAQ:JANX) reported, after yesterday’s market close, positive updated clinical data for its Tumor Activated T Cell Engager (TRACTr) and Tumor Activated Immunomodulator (TRACIr) platforms clinical programs.

“These clinical data show encouraging safety and efficacy with JANX007 in metastatic castration-resistant prostate cancer and with JANX008 in late-stage solid tumors. The clinical data provide compelling proof-of-concept for the TRACTr platform in a setting where many other approaches have failed due to material safety issues or lack of efficacy,” said David Campbell, Ph.D., President and CEO, Janux Therapeutics. “Our TRACTr platform provides an entry point to multiple, large solid tumor indications that are intractable with conventional TCE approaches. We look forward to continuing to advance these clinical trials and expanding to additional TCE targets, as we look to fulfill our mission to meaningfully address the unmet medical needs for cancer patients, especially those with late-stage disease.”

Viking Therapeutics (NASDAQ:VKTX) announced positive top-line results, this morning, from “Viking’s Phase 2 clinical trial of VK2735, a dual agonist of the glucagon-like peptide 1 (GLP-1) and glucose-dependent insulinotropic polypeptide (GIP) receptors in development for the potential treatment of various metabolic disorders such as obesity. The Phase 2 VENTURE trial successfully achieved its primary endpoint and all secondary endpoints, with patients receiving VK2735 demonstrating statistically significant reductions in body weight compared with placebo.  Additionally, the study showed VK2735 treatment to be safe and well tolerated with the majority of treatment emergent adverse events (TEAEs) being categorized as mild or moderate.  Based on these findings, Viking intends to meet with the FDA and discuss next steps in the development of VK2735.”

TransMedics Group (NASDAQ:TMDX) reported, after yesterday’s market close, its quarterly and year end 2023 financial results.

TMDX’s recent highlights include a 159% increase in fourth quarter of 2023 and full year 2023 total revenue, compared to the fourth quarter of 2022 and full year of 2022, respectively, as quarterly revenue hit $81.2 million and full year revenue of $241.6 million for 2023; generating net income of $4.0 million or $0.12 per share in the fourth quarter of 2023.

“2023 was a great year for TransMedics as we achieved 159% revenue growth and launched TransMedics transplant logistics services to provide a more operationally and economically efficient service to our transplant program users,” said Waleed Hassanein, MD, President and Chief Executive Officer. “We are humbled and excited that the use of OCS technology and our NOP program were primary drivers in increasing the national heart and liver transplant volumes by 12% in 2023. This double-digit growth in transplant volumes has not been witnessed in several years.”

TransMedics expects full-year 2024 total revenue to reach $360-370 million, which represents 49% to 53% growth compared to the company’s prior year revenue.

For further info, including Kraig Labs disclosure, click here.

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