CMMB

Leadership Changes at Chemomab: David M. Weiner, MD, has been appointed as Interim Chief Medical Officer of Chemomab Therapeutics, while Jack Lawler takes on the role of Chief Development Officer, both bringing extensive experience in biotechnology and drug development.

Progress on Nebokitug: Chemomab is preparing for a potential Phase 3 trial of its drug nebokitug, which has shown promise in treating primary sclerosing cholangitis (PSC) and has received FDA and EMA designations for orphan drug status and fast track designation.

Trial Results: Chemomab Therapeutics reported positive results from the Open Label Extension of their Phase 2 Spring trial for nebokitug in primary sclerosing cholangitis (PSC), showing safety, tolerability, and improvements in liver biomarkers over 48 weeks of treatment.

Stock Performance: Following the announcement, Chemomab's stock rose by 2.59%, reflecting investor interest in the promising outcomes of the trial.

New Treatment Potential: Chemomab Therapeutics announced promising data on nebokitug (CM-101), a monoclonal antibody targeting CCL24, as a potential treatment for systemic sclerosis (SSc), an autoimmune disease with no approved therapies. The findings will be presented at the CORA 2025 conference in Venice.

Clinical Evidence and Future Trials: Extensive preclinical studies show that nebokitug reduces inflammation and fibrosis associated with SSc, and positive results from previous trials support its efficacy. The company is preparing for a Phase 2 trial of nebokitug specifically for SSc, having already received FDA and EMA designations for its use in related conditions.

Analyst Ratings: Jeff Jones from Oppenheimer maintains a Buy rating on Chemomab Therapeutics with a price target of $11.00, while the stock currently trades at $1.51. The overall analyst consensus is a Moderate Buy with an average price target of $9.00.

Financial Performance: Chemomab reported a quarterly GAAP net loss of $3.63 million for the quarter ending June 30, which is an improvement from a loss of $7.97 million in the same period last year.

Chemomab's Participation: Chemomab Therapeutics will present at Oppenheimer's Movers in Rare Disease Summit on December 12, 2024, featuring an Elevator Pitch and one-on-one meetings with investors.

CM-101 Developments: The company is advancing its CM-101 monoclonal antibody for fibro-inflammatory diseases, with promising results from clinical trials and upcoming milestones expected in early 2025 regarding FDA feedback and trial data.

Clinical Trial Results: Chemomab Therapeutics presented data from its Phase 2 SPRING trial, showing that CM-101 demonstrated anti-fibrotic, anti-inflammatory, and anti-cholestatic effects in patients with primary sclerosing cholangitis (PSC), with a favorable safety profile and significant improvements in various biomarkers.

Future Development Plans: The company plans to advance CM-101 into a registrational trial for PSC and expects to receive FDA feedback on the trial design by early 2025, along with results from an ongoing open-label extension of the SPRING trial.

Analyst Ratings: Maxim Group analyst Michael Okunewitch has maintained a Buy rating on Chemomab Therapeutics (CMMB) stock, citing promising results from the Phase 2 SPRING trial and the potential for accelerated FDA approval due to positive clinical outcomes.

Company Overview: Chemomab Therapeutics is a clinical-stage biopharmaceutical company focused on developing therapies for inflammation and fibrosis, with its lead drug CM-101 showing significant progress in trials.

Chemomab's Upcoming Conferences: Chemomab Therapeutics will participate in the Third Annual ROTH Healthcare Opportunities Conference on October 9, 2024, and a fireside chat at the Maxim Healthcare Virtual Summit on October 16, 2024, featuring CEO Dr. Adi Mor.

CM-101 Developments: Chemomab is advancing its CM-101 monoclonal antibody for treating fibro-inflammatory diseases, with positive Phase 2 trial results in primary sclerosing cholangitis (PSC) and upcoming milestones expected in early 2025 regarding FDA feedback for a Phase 3 trial.

Stock Performance Overview: Recursion Pharmaceuticals saw an 11.6% drop in shares following the announcement of Phase 2 data for a treatment, while Nikola's shares fell 10.4%. Conversely, Sify Technologies surged 103% after achieving NVIDIA certification, and several other companies experienced significant gains.

Market Losers: Windtree Therapeutics faced a 42.2% decline, with Dyne Therapeutics and Agape ATP also experiencing substantial drops of 31.7% and 31.3%, respectively, amidst various announcements regarding clinical trials and company transitions.

Positive Phase 2 Trial Results: Chemomab Therapeutics announced successful Phase 2 results for CM-101 in treating primary sclerosing cholangitis (PSC), demonstrating safety and significant improvements in liver stiffness and other disease-related biomarkers, paving the way for a Phase 3 trial.

Financial Update and Future Plans: The company secured $10 million in PIPE financing to extend its cash runway through early 2026 and is on track to achieve key clinical milestones by early 2025, while exploring potential partnerships to expedite CM-101's development.

Positive Trial Results: Chemomab Therapeutics announced successful Phase 2 SPRING trial results for CM-101, a monoclonal antibody targeting primary sclerosing cholangitis, achieving its primary endpoint of safety and showing significant anti-fibrotic and anti-inflammatory effects.

Next Steps with FDA: The company is preparing for an End-of-Phase 2 meeting with the FDA to discuss the trial outcomes and plans for a proposed Phase 3 trial.

Positive Trial Results: Chemomab Therapeutics announced successful Phase 2 SPRING trial results for monoclonal antibody CM-101, showing safety, tolerability, and significant anti-fibrotic effects in patients with primary sclerosing cholangitis.

Next Steps: The company is preparing for an End-of-Phase 2 meeting with the FDA to discuss the trial outcomes and plans for a proposed Phase 3 study.

Chemomab Therapeutics Secures Funding: Chemomab Therapeutics has entered a PIPE agreement expected to raise approximately $10 million, which will extend its cash runway into early 2026 and support the development of its CM-101 therapeutic program.

Details of the Investment: The investment involves the sale of American Depositary Shares and pre-funded warrants, with participation from both new and existing investors, and is set to close on July 26, 2024, pending customary conditions.