Puretech Health Stock Price, News & Analysis

PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) announced its participation in the CHEST 2024 Annual Meeting in Boston from October 6-9. The company will present three studies related to LYT-100 (deupirfenidone) for treating idiopathic pulmonary fibrosis (IPF). These presentations will inform clinical, commercial, and patient engagement strategies for LYT-100.

Key points:

• Topline data from the Phase 2b ELEVATE IPF trial of LYT-100 is expected by the end of 2024
• A streamlined development program is planned, potentially advancing to Phase 3 pending positive outcomes and regulatory feedback
• PureTech believes successful Phase 2b and Phase 3 trials could support registration in the U.S. and other regions

The presentations will cover patient experiences at ILD centers vs. community practices, the ongoing burden of IPF in the antifibrotic era, and a Bayesian approach for the ELEVATE IPF trial.

PureTech Health announced that KarXT, now marketed as Cobenfy, has received FDA approval for treating schizophrenia in adults. This milestone triggers $29 million in payments to PureTech and unlocks potential future payments and royalties. Cobenfy, invented by PureTech, is the first new drug mechanism approved in over 50 years for schizophrenia treatment.

The approval validates PureTech's unique R&D model, which has now produced three FDA-approved therapeutics. PureTech has generated approximately $1.1 billion from its involvement with Karuna Therapeutics, which was recently acquired by Bristol Myers Squibb. This success enables PureTech to self-fund the advancement of several programs, including LYT-100 for idiopathic pulmonary fibrosis, with topline data expected by year-end.

PureTech Health's Founded Entity, Vor Bio (Nasdaq: VOR), announced new clinical data from its ongoing Phase 1/2 VBP101 study of trem-cel followed by Mylotarg in relapsed/refractory AML patients. The data showed:

• Reliable engraftment with 100% primary neutrophil engraftment
• High CD33 editing efficiency (median 89%)
• Shielding of the blood system across multiple Mylotarg doses
• Broadened therapeutic index for Mylotarg
• Early evidence of patient benefit in relapse-free survival

Vor Bio plans to discuss a pivotal trial design with the FDA by year-end. The company also reported progress with VCAR33ALLO and introduced a new preclinical asset, VADC45, targeting CD45 for various blood disorders.

PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) has announced the appointment of Michele Holcomb, PhD, to its board of directors as an independent non-executive director, effective September 23, 2024. Dr. Holcomb brings over 30 years of experience in global healthcare, having held notable positions at Cardinal Health, Teva Pharmaceuticals, and McKinsey & Company. Her expertise in leading transformational growth initiatives and driving organizational progress is expected to complement PureTech's board leadership as the company enters its next phase of growth.

Dr. Holcomb will join the Audit Committee, while Dr. Raju Kucherlapati, Chair of the PureTech Board, will step down from this committee. The appointment is seen as strategic for PureTech's focus on innovating and progressing major advances for patients, leveraging Dr. Holcomb's broad biopharma experience to deliver on the company's commitment to developing innovative medicines and building shareholder value.

PureTech Health plc (Nasdaq: PRTC, LSE: PRTC) has announced plans to release its half-yearly results for the six months ended June 30, 2024, on Wednesday, August 28, 2024. The company will host a presentation and conference call for analysts and shareholders at 9:00am EDT / 2:00pm BST on the same day. Interested parties can access a webcast of the presentation on PureTech's investor relations website. This announcement provides investors and analysts with a scheduled opportunity to review PureTech's financial performance and operational progress for the first half of 2024.

PureTech Health (Nasdaq: PRTC, LSE: PRTC) announced that its Founded Entity, Seaport Therapeutics, has appointed David Wheadon, M.D., to its Board of Directors. Dr. Wheadon brings over 30 years of experience in regulatory affairs, clinical strategy, and global health policy from major pharmaceutical companies.

Dr. Wheadon most recently served as Senior Vice President of Global Regulatory Affairs, Patient Safety and Quality Assurance at AstraZeneca. He has also held leadership positions at PhRMA, Juvenile Diabetes Research Foundation, Abbott, GlaxoSmithKline, and Eli Lilly. His expertise is expected to benefit Seaport as they advance their clinical-stage pipeline of therapeutics for depression, anxiety, and other neuropsychiatric disorders.

PureTech's Founded Entity, Vedanta Biosciences, has expanded its leadership team with three key appointments. Christof Marré joins as SVP and Head of Commercial, bringing nearly 30 years of biopharma marketing experience. Dr. Steven Shiff becomes SVP of Clinical Research, leveraging his expertise as a gastroenterologist and clinical executive. Jack Kyte is promoted to SVP of Human Resources.

These appointments support Vedanta's ongoing Phase 2 COLLECTiVE202 trial of VE202 for ulcerative colitis and the pivotal Phase 3 RESTORATiVE303 trial of VE303 for C. difficile infection. The expanded leadership team will also focus on planning for commercial stage activities, signaling Vedanta's preparation for potential market entry.

PureTech Health (Nasdaq: PRTC, LSE: PRTC), a clinical-stage biotherapeutics company, has completed its Tender Offer announced on May 20, 2024. The company returned $100 million to shareholders through this offer. Jefferies International purchased 31,540,670 Ordinary Shares, including ADSs, at 250 pence per share. These shares were later acquired by PureTech and will be canceled. Settlement for the shares will be done via cheques or CREST payments by July 3, 2024. Following the share cancellation, PureTech's total voting rights amount to 239,318,580 Ordinary Shares.

PureTech Health (Nasdaq: PRTC, LSE: PRTC) announced the results of its Tender Offer for up to 33,500,000 of its Ordinary Shares, including those represented by ADSs, at a fixed price of 250 pence per share. The Tender Offer was oversubscribed, with valid tenders received for 172,408,704 shares. Consequently, tenders will be scaled down proportionally. The company will purchase 31,540,670 shares for $100 million, representing approximately 12% of its issued share capital, which will be reduced from 270,859,250 to 239,318,580 shares. Payment to shareholders will be processed by July 3, 2024. Following the repurchase, the shares will be canceled, impacting the company's total voting rights.