ASX Health Stocks: Chimeric up after starting Leukaemia Phase 1B trial; Cochlear upgrades guidance,

Chimeric Therapeutics surged 12 per cent after announcing it had dosed the first leukaemia patient with its cell therapy as part of a Phase 1B clinical trial.

Here’s hoping. Chimeric’s trail offers hope for acute myeloid leukaemia patients. Picture: Thinkstock

Chimeric Therapeutics (ASX:CHM) surged 12 per cent on Thursday morning after announcing it had dosed the first leukaemia patient with its cell therapy as part of a Phase 1B trial.

The patient has received treatment with CHM 0201, in combination with Azacitidine and Venetoclax, in the ADVENT-AML Phase 1B clinical trial in acute myeloid leukaemia (AML).

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The study is the first trial to evaluate the synergy of Chimeric’s NK cell therapy in combination with the current standard-of-care for AML, Azacitidine and Venetoclax.

The study is set to enrol up to 20 subjects with newly diagnosed AML, who are not eligible for intensive chemotherapy or allogeneic stem cell transplant.

“The novel combination of CHM 0201 with the standard-of-care in AML treatment has the potential to transform frontline therapy and enhance outcomes for AML patients,” said Chimeric chief medical officer Jason B Litten MD.

CHM 0201is Chimeric’s clinically validated NK cell platform.

Data from Phase 1A clinical trial was published in March 2022, demonstrating safety and efficacy in blood cancers and solid tumours.

Positive preliminary data from the investigator-initiated Phase 1A trial in glioblastoma was announced in October last year.

At 2.30pm (AEDT) Chimeric’s share price was still up 8 per cent for the day.

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Cochlear upgrades guidance after strong H1

Cochlear (ASX:COH) rose 6 per cent on Thursday morning after upgrading its FY24 earnings guidance.

At 2.30pm (AEDT) it was still up more than 4.2 per cent for the day.

The company said that following the better than expected first half revenue for Cochlear implants, underlying net profit for FY24 is now expected to be $385-400 million, a 26-31 per cent increase on FY23.

The upgrade is 8 per cent above the midpoint of the prior guidance of $355-375 million advised in August last year.

“Cochlear implant trading conditions have been strong across the first half, with units growing 14 per cent,” said CEO & president Dig Howitt.

“We have maintained the market share gains made in FY23 and market growth has continued to be robust across both developed and emerging markets, as well as all age segments – children, adults and seniors.”

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Telix buys QSAM

Telix Pharmaceuticals (ASX:TLX) has entered into an agreement to acquire QSAM Biosciences, and its lead investigational drug Samarium-153-DOTMP (153Sm-DOTMP).

QSAM is a US based company developing therapeutic radiopharmaceuticals for primary and metastatic bone cancer.

The purchase price comprises $US33.1 million ($50.8 million) upfront, which is payable in the form of Telix shares.

On top of that, there are performance-based payments, which will require Telix to pay contingent payments up to $US90 million ($138 million) in total, payable in cash and/or in ordinary shares, upon achievement of certain clinical and commercial milestones.

Telix group CEO Dr Christian Behrenbruch, said the acquisition of QSAM would provide TLX with an additional near-term therapeutic pipeline, and further differentiate its position in radiopharmaceuticals.

In the US, there are more than 400,000 new patients diagnosed each year with metastatic bone cancer and 350,000 patient deaths.

This content first appeared on stockhead.com.au

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