Axovant Gene Therapies (AXGT) Stock Continues Skyward

Axovant Gene Therapies AXGT Stock News

Axovant Gene Therapies Ltd (NASDAQ: AXGT) is up nearly 30% this morning, following up on the strong gains that we saw on the stock yesterday. The gains come after the company announced an agreement with a contract development and manufacturing organization, also known as a CDMO.

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AXGT Stock Continues Skyward On Agreement

In a press release issued Thursday morning, Axovant Gene Therapies announced that it has entered into an agreement with a CDMO. The company signed the agreement with Yposkesi.

Under the terms of the agreement, AXGT will receive preferred access and reserved capacity for cGMP graced viral vector production. Yposkesi has agreed to provide expertise in process development, technology transfer, manufacturing scale-up, quality control and quality assurance.

This is great news for Axovant as Yposkesi is the largest CDMO for gene therapy in Europe. Moreover, the company has the ability to expand manufacturing for AAV and lentiviral vector production at its 50,000 square foot facility.

Moreover, as an experienced player in the industry, Yposkesi’s manufacturing processes comply with EMA and FDA manufacturing requirements.

Why Investors Are So Excited About The News

Ultimately, this agreement is a crucial step for Axovant Gene Therapies. Currently, the company has three gene therapy assets under clinical development in its pipelin. These include:

  • AXO-LENTI-PF – Under development for the treatment of Parkinson’s disease.
  • AXO-AAV-GM1 – Under development for the treatment of GM1 gangliosidosis.
  • AXO-AA-GM2 – Under development for the treatment of GM2 gangliosidosis.

This agreement covers the development of viral vectors, which are crucial to these treatments. After all, viral vectors ar needed as a vehicle to transfer genes into the bodies of patients with a faulty or missing gene.

So, the agreement announced today will provide the company with the viral vectors required to continue moving these assets through the clinical development process. Moreover, once development is complete, if any of these therapies are approved, the CDMO has the ability to scale up production to assist AXGT in meeting demand.

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Management Commentary

In a statement, Pavan Cheruvu, CEO at Axovant Gene Therapies had the following to offer:

This partnership is expected to provide Axovant with sufficient manufacturing capacity to deliver our gene therapies to patients at scale, a key component for the continued development of our gene therapy pipeline.

What Do You Think?

Where do you think AXGT stock is headed moving forward? Join the discussion in the comments below!

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