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2 Biotech Names That Made Waves At ESMO

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  • This summer, I revisited two oncology names, Seattle Genetics and Deciphera Pharmaceuticals, due to perceived relative undervaluation and upcoming data sets.
  • SGEN reported promising results for enfortumab vedotin combined with pembrolizumab in first line bladder cancer (I remind readers that BCYC also has anti-Nectin-4 asset).
  • Tucatinib should not be forgotten, with promising results in colorectal cancer and HER2CLIMB data not too far off.
  • DCPH's ripretinib continues to show points of differentiation in GIST versus BPMC's avapritinib. Results bode well for earlier lines of therapy.
  • I look forward to sharing ideas for upcoming conferences, including SITC and ASH.

Back in July, we revisited Seattle Genetics (SGEN) due to the dip in share price and positive inclination on upcoming data sets for tucatinib and enfortumab vedotin.

Likewise, in August we revisited Deciphera Pharmaceuticals (DCPH) after ROTY member and biotech industry veteran Biotech Phoenix nominated it for Idea Lab as his conviction pick.

Recent Outperformance Versus XBI

Data by YCharts

The graph for Deciphera's ripretinib says it all, showing an impressive 85% risk reduction of disease progression or death as compared to placebo. The asset is thought to have revenue potential in excess of $1 billion and results bode well for prospects in earlier lines of therapy. Another gauge of these results is looking at the share price and valuation for competitor Blueprint Medicines (BPMC), which has shed roughly a quarter of its value since results for its competitor were unveiled.

As for Seattle Genetics, encouraging initial results for enfortumab vedotin combined with pembrolizumab in first line bladder cancer speak to a high probability of success here and changing the treatment landscape (13% complete response, 71% ORR). I remind readers that Bicycle Therapeutics (BCYC), another platform technology idea I did a write-up on, also has an anti-Nectin-4 drug candidate as well. Not to be forgotten, tucatinib results (combined with Herceptin) in HER2 amplified mCRC were also quite promising, with ORR of 55% and median overall survival of 17.3 months. HER2CLIMB pivotal data in HER2-positive metastatic breast cancer is expected by the end of the year I believe.

Looking ahead, we have a couple ASH ideas in ROTY's model account but not as much comes to mind for SITC yet. Anyone have key stocks/setups they are focusing on for conferences toward the end of the year? Look forward to hearing your thoughts.


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