Biotech Values

[mcbio]

MGNX -10%/AH—JNJ abandons Duvortuxizumab collaboration

Hey, regarding the post you responded to, at least the FGEN part has worked out so far (even if no actual buyout). ; )

As far as this MGNX news, JNJ is only abandoning this one drug. As the PR notes, they will continue with another bispecific targeting CD3 and an undisclosed antigen. I'll personally be a bit surprised if that AH action holds tomorrow as I never personally considered this to be one of MGNX's key assets.

The ESMO abstract released yesterday for flotetuzumab (CD123xCD3) seemed very encouraging as it showed activity at the proper dose in 4/8 AML/MDS patients, including 2 CRi, 1 morphologic leukemia free state, and 1 patient with bone marrow blast reduction >50%.

MGNX has been a dud holding for me for some time but I'll continue to hold (for better or worse).