MacroGenics Gets Downgraded Following Disappointing Prostate Cancer Trial Results: 'We Were Surprised By Reported Deaths'
MacroGenics Gets Downgraded Following Disappointing Prostate Cancer Trial Results: 'We Were Surprised By Reported Deaths'
MacroGenics Inc (NASDAQ:MGNX) released interim data from the TAMARACK Phase 2 study of vobramitamab duocarmazine (vobra duo).
MacroGenics Inc（納斯達克股票代碼：MGNX）發佈了TAMARACK對vobramitamab duocarmazine（vobra duo）的2期研究的中期數據。
TAMARACK is being conducted in previously treated patients with metastatic castration-resistant prostate cancer (mCRPC).
TAMARACK正在對先前接受過治療的轉移性去勢抗性前列腺癌（mcRPC）患者進行治療。
MacroGenics reported five deaths (fatal outcome) during the trial. It also reported over 50% rate of grade 3, or worse, adverse events in both dose cohorts (2 mg/kg and 2.7 mg/kg every four weeks).
MacroGenics在試驗期間報告了五例死亡（致命結果）。它還報告了兩個劑量組中3級或更糟糕的不良事件發生率超過50％（每四周爲2 mg/kg和2.7 mg/kg）。
- B Riley maintains the Buy rating on MacroGenics with a price target of $25.
- BMO Capital Markets downgraded MacroGenics from Outperform to Market Perform with a price target of $8 from $24 on lower conviction on the prostate cancer program.
- JMP writes while maintaining the Outperform rating.
- B Riley維持對MacroGenics的買入評級，目標股價爲25美元。
- 由於對前列腺癌計劃的信心降低，BMO Capital Markets將MacroGenics的評級從跑贏大盤下調至市場表現，目標股價從24美元下調至市場表現。
- JMP在維持跑贏大盤評級的同時寫入。
B Riley notes that an unexpected increase in treatment interruptions and discontinuations from week 12 to week 24 could imply a lower likelihood of success in a relatively crowded mCRPC landscape.
B Riley指出，從第12周到第24周的治療中斷和中斷次數意外增加可能意味着在相對擁擠的mcRPC環境中成功的可能性降低。
The firm notes that >Grade 1 Palmar-plantar erythrodysaesthesia (PPE) cases at wk-24 were just 4.4%/10% in the 2/2.7 mg/kg arms vs. 31% reported in the 3 mg/kg arm, representing a significant improvement in what was the most concerning side-effect.
該公司指出，在2/2.7 mg/kg組中，>1級手掌足底紅斑異常（PPE）病例在2/2.7 mg/kg組中僅爲4.4％/10％，而在3 mg/kg組報告的31％，這表明最令人擔憂的副作用有了顯著改善。
Strong clinical activity was observed even in the 2 mg/ kg arm.
即使在 2 mg/kg 的手臂中也觀察到很強的臨床活性。
BMO Capital Markets' analyst previously discussed the competitive landscape in metastatic castration-resistant prostate cancer (mCRPC) and the standards anticipated MacroGenics needed to meet in the recently revealed TAMARACK results. However, the effectiveness and safety updates from the study failed to meet expectations.
BMO Capital Markets的分析師此前討論了轉移性去勢抗性前列腺癌（mcRPC）的競爭格局，以及MacroGenics在最近公佈的TAMARACK結果中預計需要達到的標準。但是，該研究的有效性和安全性更新未能達到預期。
JMP Securities writes, "We were surprised by five newly reported deaths in the data, which will likely lead to volatility."
JMP Securities寫道：“我們對數據中新報告的五起死亡事件感到驚訝，這可能會導致波動。”
Based on Novartis AG's (NYSE:NVS) PSMAfore and Exelixis Inc's (NASDAQ:EXEL) CONTACT-02, the analyst points out that the death rate in the mCRPC setting is ~2-12%, and the recorded deaths in TAMARACK (2.8% of patients) fall within this range.
根據諾華股份公司（紐約證券交易所代碼：NVS）的PSMAfore和Exelixis Inc（納斯達克股票代碼：EXEL）的 CONTACT-02，分析師指出，在mcRPC環境中，死亡率約爲2-12％，塔瑪拉克（佔患者的2.8％）的記錄死亡人數在該範圍內。
JMP says ORR is the highlight of the update. There is a large discrepancy between confirmed and unconfirmed numbers, but 18-25% (confirmed) and 24-44% (total) compare well.
JMP表示，ORR是本次更新的亮點。已確認和未確認的數字之間存在很大差異，但相比之下，18-25％（已確認）和24-44％（總數）的數字相比不錯。
Cabo+Atezo (CONTACT-02 showed a 14% ORR), Pluvicto has a 51% ORR, and emerging bispecifics have an ORR of 41-56%.
Cabo+Atezo（CONTACT-02 的ORR爲14％），Pluvicto的ORR爲51％，新興的雙特異性生物的ORR爲41-56％。
"Overall, given several new compounds vying for a place in mCRPC, we need to wait for the 2H24 data to form a full picture of the opportunity," JMP writes.
JMP寫道：“總體而言，鑑於有幾種新化合物在mCRPC中爭奪一席之地，我們需要等待下半年的數據才能全面反映機遇。”
Price Action: MGNX shares are down 77.7% at $3.27 at last check Friday.
價格走勢：週五最後一次檢查時，MGNX股價下跌77.7％，至3.27美元。
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