PhaseBio Initiates Phase II Study for Coronavirus Patients

PhaseBio Pharmaceuticals, Inc. PHAS announced that it has dosed the first patient in a potentially pivotal phase II study, VANGARD, on its pipeline candidate, PB1046. The study will be assessing the efficacy and safety of once-weekly subcutaneous injections of PB1046 in hospitalized COVID-19 patients at high risk for rapid clinical deterioration and acute respiratory distress syndrome (ARDS).

The VANGARD study will enroll about 210 patients at about 20 sites nationwide. The primary endpoint in the study measures days alive and free of respiratory failure. Considering the pace of enrollment and any further impacts from the COVID-19 pandemic itself, the company expects to report initial data from the VANGARD study late in the fourth quarter of 2020.

Shares of the company have lost 10.1% year to date against the industry’s growth of 11.5%.

PB1046 is a novel, once-weekly, subcutaneously-injected vasoactive intestinal peptide (VIP) receptor agonist that targets VPAC receptors in the cardiovascular, pulmonary and immune systems. It has the potential to modulate several proinflammatory cytokines that are believed to be key drivers of the inflammatory response to COVID-19.

PhaseBio submitted an investigational new drug application (IND) to evaluate the potential of PB1046 to help COVID-19 patients at high risk of progressing to ARDS. The company received FDA clearance in May 2020 to initiate the VANGARD study.

The company is also developing PB1046 for the treatment of pulmonary arterial hypertension (PAH). It is in a phase II study for the same and results from the study are expected to be reported in 2021.

Zacks Rank & Other Stocks to Consider

PhaseBiocurrently carries a Zacks Rank #2 (Buy).

Some top-ranked stocks in the biotech sector are Emergent Biosolutions Inc. EBS, BioMarin Pharmaceutical Inc. BMRN and BioDelivery Sciences International Inc. BDSI, all carrying a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Emergent’s earnings per share estimates have increased from $3.14 to $4.23 for 2020 and from $3.35 to $4.31 for 2021 in the past 60 days.

BioMarin’s earnings per share estimates have increased from $1.51 to $1.56 for 2020 and from $2.46 to $2.79 for 2021 in the past 60 days.

BioDelivery’s earnings per share estimates have increased from 19 cents to 20 cents for 2020 and from 44 cents to 46 cents for 2021 in the past 60 days.

Biggest Tech Breakthrough in a Generation

Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity. A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.

See 8 breakthrough stocks now>>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
BioMarin Pharmaceutical Inc. (BMRN): Free Stock Analysis Report
BioDelivery Sciences International, Inc. (BDSI): Free Stock Analysis Report
Emergent Biosolutions Inc. (EBS): Free Stock Analysis Report
PHASEBIO PHARMA (PHAS): Free Stock Analysis Report
To read this article on click here.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

More Related Articles

Info icon

This data feed is not available at this time.

Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.