Today, a brief rundown of news from Moderna, Intra-Cellular Therapies and Vertex Pharmaceuticals, as well as updates from Syndax Pharmaceuticals and Nektar Therapeutics that you may have missed.
Moderna CEO Stéphane Bancel is handing leadership of the company’s sales to President Stephen Hoge, according to Bloomberg. Per the report, Bancel is stepping down as chief commercial officer, a role that was vacated late last year when Arpa Garay departed amid a company reorganization. Hoge will also handle medial and research affairs, the report said. The reshuffle follows Moderna’s recent moves to cut research spending and lower its sales expectations after being “overly optimistic” about the near-term sales trajectory of its new RSV vaccine mResvia. Moderna declined to comment to BioPharma Dive. — Delilah Alvarado
People with schizophenia who received Intra-Cellular Therapies’ Caplyta in a clinical trial went longer without relapsing than those given a placebo, according to results disclosed by the biotechnology company. Treatment was associated with a 63% lower risk of relapse, Intra-Cellular said Tuesday. Demand for the drug, which was approved for schizophrenia in the U.S. nearly five years ago, has climbed and company executives are now predicting annual sales will reach $5 billion sometime in the next decade. — Ned Pagliarulo
Vertex Pharmaceuticals has, for the first time, booked revenue from a commercial sale of its CRISPR gene therapy Casgevy. Results for the third quarter disclosed by Vertex Monday show the company recorded $2 million in revenue for the sickle cell disease treatment, representing a patient who was infused sometime between July and September. Approximately 40 patients have undergone cell collection, a preliminary step in which their stem cells are removed for gene editing in a laboratory. On a conference call, executives said they are seeing signs of growing demand and continue to project billions of dollars in future sales. — Ned Pagliarulo
Syndax Pharmaceuticals has sold royalty rights to its newly approved drug Niktimvo to Royalty Pharma for $350 million upfront. Under the deal, Royalty will receive 13.8% of Niktimvo’s net sales in the U.S. Approved in August, Niktimvo treats chronic graft-versus-host disease and is sold by both Syndax and Incyte, which partnered in 2021. Syndax CEO Michael Metzger said in a statement that the deal’s cash infusion should help the company launch the drug as well as reach profitability. — Delilah Alvarado
Nektar Therapeutics will sell an Alabama manufacturing facility for $90 million to Boston-based private equity firm Ampersand Capital Partners. Of the $90 million, Nektar will receive $70 million in cash and $20 million in equity ownership of a newly created Ampersand-backed company, which will support some of Nektar’s manufacturing needs for its drug rezpegaldesleukin. Employees at the facility, which specializes in PEGylation reagents, will be offered work at the new company. — Delilah Alvarado
