FATE Gets Attention, IMGN Earns Milestone Payment, KIN Gains Weight

(RTTNews) - Fate Therapeutics Inc. (FATE) is all set to initiate a phase 1/2 clinical trial of ProTmune in adult patients with hematologic malignancies undergoing mobilized peripheral blood hematopoietic cell transplantation in mid-2016.

The primary objectives of the phase 1/2 clinical trial are to evaluate safety and tolerability, and to assess the potential of ProTmune to prevent acute graft-versus-host disease (GvHD) and cytomegalovirus (CMV) infection, both of which are leading causes of morbidity and mortality in patients undergoing HCT.

There are currently no approved therapies for the prevention of GvHD or CMV infection in patients undergoing allogeneic HCT, giving rise to a significant unmet medical need, the company added.

FATE closed Tuesday's trading at $2.48, up 0.81%. In after hours, the stock was up 24.19% to $3.08.

ImmunoGen Inc. (IMGN) has earned a milestone payment from Bayer, following the latter's initiation of a global phase II study designed to support registration of Anetumab ravtansine.

Anetumab ravtansine, a mesothelin-targeting ADC, is a potential new treatment for mesothelioma developed by Bayer using ImmunoGen's ADC technology.

As per the terms of a licensing deal between ImmunoGen and Bayer signed in 2008, ImmunoGen is entitled to receive milestone payments potentially totaling up to $170 million and royalties on commercial sales, if any.

IMGN closed Tuesday's trading at $9.18, down 4.87%.

Kindred Biosciences Inc.'s (KIN) pilot field study of KIND-010 for the management of weight in cats has demonstrated positive results.

The objective of the study was to demonstrate the effectiveness and safety of KIND-010 for the stimulation of weight gain in cats under clinical conditions. According to the company, at Week 2, the mean weight of cats in the KIND-010 group was 4.32 kg versus 3.98 kg in the placebo group.

KIN closed Tuesday's trading at $3.28, up 4.13%.

Vertex Pharmaceuticals Inc.'s (VRTX) ORKAMBI, the first medicine to treat the underlying cause of cystic fibrosis in people ages 12 and older with two copies of the F508del mutation, has now been approved in Canada.

In Canada, there are about 4,000 people with cystic fibrosis, and approximately 1,500 of these people ages 12 and older have two copies of the F508del mutation. People with two copies of the F508del mutation represent the largest group of people with cystic fibrosis, according to the company.

Orkambi was approved in the U.S. last July and in the EU last November. Vertex is scheduled to report its Q4 results on January 27, 2016.

VRTX closed Tuesday's trading at $92.20, up 0.09%.