Posted on November 8, 2021
When SanaCurrents issued a March 19 report forecasting a positive outcome for Codiak Biosciences’ (NASDAQ:CDAK) phase I/II exoSTING trial, the favorable outlook was based on the expectation some efficacy data would be reported.
In its November 4, 2021, quarterly earnings announcement, Codiak said the phase I/II trial results evaluating exoSTING in solid tumors would include only initial safety, pharmacokinetic and pharmacodynamic data. The results are expected to be released in the fourth quarter, Codiak said. Accordingly, SanaCurrents is suspending coverage of the exoSting catalyst and closing its position in Codiak.
Phase I/II trials generally do not include efficacy data, though many biopharma companies have begun to include hints of efficacy when presenting results from early-stage trials. A mention of efficacy tends to stimulate a more positive stock market reaction.
Codiak’s exoSTING consists of precisely engineered exosomes loaded with a potent small molecule STING (stimulator of interferon genes) agonist. Codiak designed the exosomes carrying exoSTING to provide selective, preferential STING delivery only to antigen presenting cells (APCs) in solid tumors.
In preclinical studies, exoSTING exhibited a more than 100-fold increase in potency than a free STING agonist (FSA) and without immune ablation in patients with solid tumors, according to Codiak. exoSTING also delivered sustained anti-tumor immunity in several metastatic tumors.