Payment up-front, this small cap is in negotiations to sell its Oncology program

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FOCUS LIST🔎

IDYA - Up over 20% in pre after announcing positive interim Phase 2 Monotherapy Expansion Data for Urothelial and Lung Cancer drug

VRPX - Up over 15% in pre after securing  $2.5 million loan financing and an agreement with an institutional investor to negotiate additional funding

KA - Up over 30% in pre after announcing TuHura purchased exclusive right to negotiate to acquire Immuno-Oncology Drug Program for $5million

HOTLIST🔥

IDYA - Up over 20% in pre after announcing positive interim Phase 2 Monotherapy Expansion Data for Urothelial and Lung Cancer drug

IDEAYA Biosciences, Inc. (IDYA) is a synthetic lethality-focused precision medicine oncology company that discovers and develops targeted therapeutics for patient populations selected using molecular diagnostics in the United States.

In the after-hours Friday, the company announced positive interim Phase 2 Monotherapy Expansion Data for IDE397, a potential first-in-class MAT2A Inhibitor in MTAP-Deletion Urothelial and Lung Cancer. 

Highlights of the data include:

~39% Overall Response Rate (ORR): 1 CR and 6 PRs (2 awaiting confirmation) by RECIST 1.1 out of 18 evaluable MTAP-deletion urothelial and NSCLC patients

~94% Disease Control Rate (DCR): 1 CR and 6 PRs and 10 SD by RECIST 1.1

~78% of Patients with Tumor Shrinkage: 14 patients observed tumor shrinkage

~81% ctDNA Molecular Response Rate (MRR): 13 of 16 patients with > 50% ctDNA reduction

IDE397 expansion dose of 30 mg once-a-day achieved target drug coverage and plasma SAM pharmacodynamic reduction associated with preclinical tumor regressions

~48k U.S. annual incidence of MTAP-deletion urothelial cancer and NSCLC, with high unmet need and no FDA-approved therapies for MTAP-deletion solid tumors

The stock traded up over 20% in the pre-market in reaction to the positive results.

The $39.35 area acted as support in the pre-market and will be an important level to watch.

Above it, targets to the upside are $42 and then the after-hours high at $45. Beyond that, all-time highs at $47.74 come into play above which is blue sky.

Below $39.35, targets to the downside are $36 and then a gap fill at $34.26.

VRPX - Up over 15% in pre after securing  $2.5 million loan financing and an agreement with an institutional investor to negotiate additional funding

Virpax Pharmaceuticals Inc. (VRPX) is a preclinical-stage pharmaceutical company that develops various drug-delivery systems and drug-releasing technologies focused on advancing non-opioid and non-addictive pain management treatments and treatments for central nervous system disorders.

In the pre-market this morning, the company announced that it had secured $2.5 million loan financing which enabled the final payment of its litigation settlement  and an agreement with an institutional investor to negotiate additional funding. 

As part of this financing, the Company’s Board of Directors has been reorganized, and has been reduced to seven members from eight. Four new board members have been selected by the institutional investor and appointed to the Board, and five Board members have resigned.

"This loan by the institutional investor, combined with an agreement to negotiate additional funding, will allow us to continue fulfilling our mission to develop non-addictive pain drugs as well as other CNS product candidates with high unmet medical need," stated Gerald Bruce, CEO of Virpax Pharmaceuticals.

VRPX stock traded up over 15% in the pre-market in reaction to the news.

The first target for bulls is the pre-market high at $0.95.

Beyond that, potential targets are prior support at $2 and a gap tp fill at $2.29.

Below $0.95, targets to the downside are $0.70, $0.60, a gap fill at $0.5780 and $0.50 below that. 

KA - Up over 30% in pre after announcing TuHura purchased exclusive right to negotiate to acquire Immuno-Oncology Drug Program for $5million

Kineta, Inc. (KA) is a clinical-stage biotechnology company with a focus on developing immunotherapies that transform patients' lives. It focuses on developing potentially differentiated immunotherapies that address the challenges with current cancer therapy.

In the pre-market, the company announced that TuHURA had purchased an exclusive right to negotiate to acquire Kineta’s KVA12123 Immuno-Oncology Drug Program.

Kineta will receive a $5 million Nonrefundable Payment from TuHURA in consideration for the option.

This exclusive right shall continue through the first to occur of (a) the execution of any definitive agreement with respect to a potential transaction by TuHURA or one or more of its affiliates and (b) 11:59 PM Eastern Time on October 1, 2024, subject to extension.

KVA12123 is currently in a Phase 1/Phase 2 Clinical Study in the United States.

KA stock traded up over 30% in the pre-market in reaction to the news.

The $0.70 area has acted as support in the pre-market and will be an important level to watch. 

Above it, targets to the upside are $0.75, $0.80, $0.88 and then the pre-market high at $0.93. Beyond that, $1, $1.33, $1.80 and $2 come into play.

Below $0.70, targets to the downside are $0.65, $0.62 and then a gap fill at $0.6068.

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