SNAPSHOT

Corvus eczema pill sparks stock surge with standout trial results

Corvus Pharmaceuticals' stock soared over 160% after early trial data showed its eczema pill, soquelitinib, may rival or exceed the efficacy of top-selling treatment Dupixent.

Why it matters: A safe, effective oral eczema treatment could disrupt the market dominated by injectables and offer a more convenient option for patients.

Backstory: Current eczema treatments range from steroids to biologics like Dupixent. Oral alternatives like JAK inhibitors exist but face safety concerns. ITK inhibitors like soquelitinib are being explored as potentially safer oral options. ITK inhibitors block inflammatory protein signals, showing promise for autoimmune diseases.

Big picture: A successful oral eczema drug with strong efficacy and fewer safety risks could reshape treatment standards and challenge leaders in a multibillion-dollar market.

Zoom in: In Corvus' Phase 1 trial, 9 of 12 patients on soquelitinib achieved 75% skin clearance (EASI 75) and 3 reached EASI 90, a higher efficacy benchmark. By contrast, only 2 placebo recipients hit EASI 75; none reached EASI 90. Analyst feedback has been highly positive, with one calling it a potential “best-in-disease” option.

What's next: Corvus will launch a Phase 2 trial by the end of March and has announced a $150 million share sale to fund ongoing development. This positive news helped more than just Corvus, as Aclaris Therapeutics, also developing ITK inhibitors, saw its stock rise on Corvus' news.

SNIPPETS

What’s happening in biotech today?

❤️‍🔥 Metabolic mission: Corxel Pharmaceuticals has raised $287 million in a Series D funding round to support the development of its oral GLP-1 receptor agonist, CX11, for obesity and Type 2 diabetes. The funds will finance a global Phase 2 trial in diabetic patients and prepare for Phase 3 studies, building on earlier Phase 2 data showing a 9.7% weight reduction in 16 weeks. Originally licensed from Vincentage, which is conducting Phase 3 trials in China, CX11 is now in U.S. Phase 2 trials. The investment will also advance Corxel’s other cardiometabolic candidates, JX10 and JX09.

💉 Vax cash: Infinitopes, a U.K.-based cancer vaccine biotech spun out from Cancer Research U.K. and the University of Oxford, has closed a $35.1 million seed round, co-led by Octopus Ventures and Amplify Bio. The funding will support a Phase 1/2a clinical trial of its lead candidate, ITOP1, an off-the-shelf cancer vaccine aimed at preventing recurrence of oesophageal cancer following surgery. Using immunopeptidomics and computational analysis, Infinitopes selects tumour antigens broadly shared across patients to elicit CD8+ T-cell responses. Positioned within the off-the-shelf vaccine space, ITOP1 integrates into perioperative care, distinguishing it from both late-line therapies and personalized vaccine approaches.

🚜 TRACTr traction: Bristol Myers Squibb has partnered with Janux Therapeutics in an $850 million deal to develop a tumor-activated T-cell engager targeting a solid tumor antigen found in multiple cancer types. Janux will lead preclinical development, while BMS will oversee clinical trials and commercialization. The agreement includes $50 million in upfront and near-term payments, with up to $800 million in potential milestones, plus tiered royalties. The collaboration centers on Janux’s TRACTr platform and reflects continued industry interest in T-cell engagers, despite Janux’s recent stock dip following underwhelming early trial results.

🥚 Ovarian win: Corcept Therapeutics reported a phase 3 trial success for its oral selective glucocorticoid receptor antagonist, relacorilant, in platinum-resistant ovarian cancer, showing a statistically significant improvement in overall survival (OS). Patients receiving relacorilant with chemotherapy had a median OS of 16 months, compared to 11.9 months for the control group, a 35% reduction in risk of death. This follows earlier progression-free survival data and positions Corcept for potential FDA and EU approvals, with a U.S. decision expected by July 11. The positive results mark a rebound for Corcept after a recent FDA rejection in Cushing’s syndrome and support expanded oncology plans.

🧴 Rash relief: Hoth Therapeutics released updated Phase 2 data for HT-001, a topical gel intended to treat skin toxicities caused by EGFR inhibitors, a common issue that can lead cancer patients to pause or reduce treatment. In the open-label portion of the trial involving 12 patients, acneiform rash severity scores fell from 1.67 to 0.83 over six weeks, with all participants scoring below one by the end, suggesting low disease severity. Itch scores also improved. While the results are consistent with prior data, HT-001 has yet to prove efficacy in a randomized trial. Investor response remained muted, with shares unchanged and a market cap under $20 million.

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