Contextlogic Inc. Stock Price, News & Analysis

LogicBio Therapeutics (Nasdaq: LOGC) announced the promotion of Dr. Daniel Gruskin to Chief Medical Officer and the appointment of Dr. Stephen Boyer as Vice President of Regulatory and Quality Affairs, along with Dr. Peter Pechan as Vice President of Gene Therapy. These leadership changes support ongoing advancements in the Phase I/II SUNRISE clinical trial of LB-001, an investigational treatment for methylmalonic acidemia (MMA). The new appointments come amidst recent collaborations with Daiichi Sankyo and CANbridge Pharmaceuticals.

LogicBio Therapeutics (Nasdaq: LOGC) reported its first-quarter financial results for 2021, showing a net loss of $10.3 million or $0.32 per share, compared to a loss of $9.5 million or $0.41 per share in Q1 2020. R&D expenses decreased to $6.4 million from $7.2 million, while G&A expenses rose to $4.1 million. The company had cash reserves of $63.9 million and expects this to sustain operations for at least the next 12 months. Anticipated milestones include patient enrollment in the SUNRISE trial for LB-001 by mid-2021 and interim data by year-end.

LogicBio Therapeutics (Nasdaq: LOGC) announced key appointments on May 10, 2021, with Andrea Paul as general counsel and corporate secretary, effective May 17, and Janice Olson as senior vice president of strategy and portfolio management, effective June 7. Both bring extensive experience in pharmaceutical and biotechnology sectors. The company also reported the resignation of COO Kyle Chiang effective May 28. CEO Frederic Chereau expressed optimism about the new appointments and their potential to enhance LogicBio's gene delivery and gene editing platforms amid ongoing collaborations with Daiichi Sankyo and CANbridge Pharmaceuticals.

LogicBio Therapeutics (Nasdaq:LOGC) announced preclinical data presentations at the upcoming 24th Annual ASGCT Virtual Meeting from May 11-14, 2021. Key findings include the oral presentation by Dr. Jing Liao on the sL65 AAV capsid, which demonstrated high potency in humanized mice and non-human primates for liver disease treatment. Additionally, data on the GeneRide platform showed improved outcomes for methylmalonic acidemia and significantly reduced bilirubin levels in Crigler-Najjar syndrome in mouse models. These presentations highlight the potential of LogicBio's genetic therapies.

LogicBio Therapeutics (Nasdaq:LOGC) announced results from a retrospective study on severe methylmalonic acidemia (MMA), a rare genetic disorder. Conducted at the ACMG Annual Clinical Genetics Meeting, the study included 18 pediatric patients, demonstrating a significant post-liver transplantation decrease in methylmalonic acid levels, indicating improved metabolic stability. However, no substantial differences were observed in emergency room visits or hospitalizations before and after transplantation. The findings will inform the clinical trial design for LB-001, a program targeting MMA.

LogicBio Therapeutics (LOGC) announced a strategic collaboration with CANbridge Pharmaceuticals to develop gene therapies for rare diseases in Greater China. Under the agreement, CANbridge obtains an option for an exclusive license for LB-001, targeting methylmalonic acidemia (MMA). LogicBio will receive an upfront payment of $10 million and is eligible for up to $581 million in milestone payments, along with double-digit royalties. This partnership aims to expand patient access to innovative therapies in the underserved Chinese market.

LogicBio Therapeutics (Nasdaq: LOGC) announced a research collaboration with Daiichi Sankyo on April 27, 2021. The partnership focuses on developing treatments for two undisclosed indications using LogicBio's GeneRide™ gene insertion platform. This agreement allows Daiichi Sankyo to negotiate worldwide licenses for the programs. Previously, LogicBio cleared an Investigational New Drug application for a treatment targeting pediatric methylmalonic acidemia and initiated the Phase 1/2 SUNRISE trial. The GeneRide platform aims to provide durable therapeutic protein expression while minimizing risks associated with other gene editing methods.

LogicBio Therapeutics, Inc. (Nasdaq:LOGC) has provided an update on its SUNRISE Phase I/II clinical trial for the investigational treatment LB-001 for methylmalonic acidemia (MMA). Screening for patients is ongoing, with the first patient expected to be enrolled by mid-2021, reflecting a slight delay. The company has formed a strategic collaboration with CANbridge Pharmaceuticals, potentially earning $10 million upfront plus $581 million in milestone payments. A separate partnership with Daiichi Sankyo for GeneRide™ technology was also announced.

LogicBio Therapeutics (Nasdaq: LOGC) announced that CEO Frederic Chereau will participate in a panel at the 2021 Redburn Gene Therapy Summit on March 31, 2021, at 9:15 a.m. EDT. The panel, titled "Gene therapy: a changing regulatory landscape," will feature discussions on LogicBio's innovative gene delivery and gene editing platforms, specifically the SUNRISE clinical trial of LB-001, aimed at treating methylmalonic acidemia (MMA). LogicBio is pioneering new technologies for addressing rare diseases.