Altus Pharmaceuticals

Altus shares nosedive despite Phase III success

John Carroll — Tue, 12 Aug 2008 11:56:20 -0400

Hitting a primary endpoint in a late-stage trial is not always a recipe for success, it seems. Shares of Altus Pharmaceuticals nosedived this morning after the company issued a release saying that its late-stage study of the cystic fibrosis drug Trizytek hit its primary endpoint in fat absorption. Trizytek is an enzyme replacement therapy. But the data evidently failed to completely satisfy all the analysts who follow the company. Some were looking for a higher degree of efficacy and may have been troubled by regional variations in the data. And that response helped shave off about 50 percent of the company's stock value.

Piper Jaffray analyst Andrew Fein reportedly said he was disappointed that the data failed to demonstrate a greater degree of efficacy. But he also noted that the data was positive and sufficient to support an application for marketing approval. Researchers are also studying why patients in three of six non-U.S. countries failed to demonstrate a significant response compared to a placebo group. The strong response among U.S. volunteers, though, allowed the drug to hit its primary endpoint.

- check out Altus' release
- read the item from MarketWatch

C&L: Somnus names executive team

Wed, 28 May 2008 06:59:52 -0400

Gary Cupit, PharmD, has been named CEO of Somnus Therapeutics. The rest of the executive team: Mary Osbakken, MD, PhD, chief medical officer; Christine Blumhardt, PharmD, chief regulatory officer; Linda Hogan, MS, MBA, chief business officer; Anne McCormick, MSW, director, clinical project management.

Altus Pharmaceuticals has appointed Georges Gemayel as CEO and member of the board of directors.

Amazon Biotech announced that Eliyahu BenTal Tolchinsky has been appointed as director and CEO.

NicOx said development chief Damian Marron will leave May 30 and will be replaced by Sanjiv Sharma, vice president of commercial affairs, and Gavin Spencer, senior director of business development. Marron will become CEO of another, unnamed biopharmaceutical company.

CyDex Pharmaceuticals announced that Theron E. Odlaug, Ph.D. has been appointed to the newly established position of president and chief operating officer.

Nektar Therapeutics named Bharatt Chowrira chief operating officer and head of the company's PEGylation Business Unit.

Nanobiotix it has appointed Elsa Borghi, MD, as medical director.

Adolor named Eliseo Oreste Salinas senior vice president of research and development and chief medical officer, effective June 2.

Schering-Plough Corporation announced that Janet M. Barth has been appointed vice president, investor relations. Endo Pharmaceuticals Holdings has named Blaine T. Davis vice president, investor relations and corporate communications. Ipsen has named Gerard Picot vice-president, global regulatory affairs.

Orchid Cellmark has named Jeffrey S. Boschwitz, Ph.D., vice president of North America marketing and sales.

Elan Corporation has named Patrick Kennedy and Donal O'Connor to the board of directors.

VentiRx Pharmaceuticals named Dr. Elliott Grossbard to its board of directors.

Struggling VaxGen put Paul De Stefano and Lori Rafield onto its board after three members quit.

SPOTLIGHT: Altus hires new CEO

Thu, 22 May 2008 06:59:53 -0400

Altus Pharmaceuticals has hired Georges Gemayel from Genzyme to be its new CEO. Gemayel had been executive vice president at Genzyme. Both companies are based in Cambridge. Release

Developers seek alternatives to animal ingredients

Tue, 01 Apr 2008 07:59:57 -0400

The brouhaha over heparin has cast a spotlight on the use of animal products in therapies. It also underscores new development activities aimed at coming up with synthetic versions of drugs that will circumvent the need to source materials from animals. Altus Pharmaceuticals, for example, is developing an alternative to heparin with the help of financing from the Cystic Fibrosis Foundation.

When tainted heparin was first linked to the deaths of patients, investigators quickly focused on the role that an active ingredient extracted from pig intestines may have played. Most of those ingredients are now sourced in China and would be threatened by any serious viral outbreak in those animals.

- read the article in the New York Times

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Baxter: Fake heparin predated API. Report

ALSO NOTED: GTC announces positive ATryn data; NC biotech center to expand; FDA delays Requip XL decision; and much more...

Tue, 05 Feb 2008 06:59:50 -0500

> Shares of GTC Biotherapeutics were buoyed after the company announced positive results from a late-stage study of ATryn among patients with hereditary antithrombin deficiency undergoing high-risk surgical or childbirth procedures. Release

> The North Carolina Biotechnology Center is planning to add 25,000 square feet in order to expand its conference activity and add new workers. Report

> Forest Laboratories reported positive preliminary results from a Phase III trial of its once-daily formulation of memantine HCI for Alzheimer's. Report

> The FDA is delaying a decision on Requip XL, a reformulated Parkinson's drug from Glaxo and Skyepharma. Report

> Proteome Sciences says it has no idea what's behind recent movement in its share price. Report

> Chutes & Ladders: Altus Pharmaceuticals announced today that Sheldon Berkle has resigned as president, CEO and a member of the board of directors. Release

> Some time back, Wyeth's Pearl River, NY, facility spawned seven discrimination lawsuits. Current and former employees alleged that the company discriminated against them because they're black. Now one of those cases is in court. Report

> Researchers have overcome one of the chief obstacles to developing a vaginal gel to protect poor women from HIV infection. Report

> Researchers targeting new treatments for the common cold can now look forward to getting help from a new mouse model for the ailment. Report

> A prostate cancer vaccine developed at the University of Southern California was able to prevent the disease in 90 percent of mice engineered to develop cancer. Report

> Do generics cost more in long run? Report

And Finally... Researchers have combined the DNA of three people in one embryo, pointing the way to producing children who will be free of inherited disease. Report

Altus shares dive as Genentech hands back drug rights

Thu, 20 Dec 2007 06:59:58 -0500

Shares of Altus Pharmaceuticals took a dive this morning after the biotech announced that it had reacquired the North American rights to a growth hormone program from Genentech. Altus immediately signaled its interest in a new partner for ALTU-238, with clinical trials set to resume in the middle of next year. Genentech paid Altus $30 million for the licensing rights and now will pay an additional unspecified sum as it transfers the product back.

"We continue to believe ALTU-238 can provide significant patient benefit with better dosing as a potential once-per-week treatment for growth hormone disorders," stated Sheldon Berkle, president and CEO of Altus Pharmaceuticals. "We intend to move this program forward. Altus stock plunged 19 percent on the news.

- check out the release for more information

Related Articles:
Altus loses orphan drug status. Report
Altus inks $140M pact for human growth hormone. Report
Altus stock plunges on clinical trial delay. Report