Axiom’s newborn survival signal, GSK’s chronic cough setback, and more

While no clinical readouts drove dramatic stock moves this week, Axiom reported early-phase success with a stem cell therapy for newborn brain injury and plans to expand into ischemic stroke. GSK discontinued development of its P2X3 receptor antagonist for refractory chronic cough, the latest in a string of failures for the target.

Axiom Biosciences Inc. reported positive Phase I results Tuesday for its mesenchymal stem cell therapy in newborns with severe brain injury. Co-developed with South Korea-based Medinno Inc., the therapy is being developed for intraventricular hemorrhage (IVH) and hypoxic-ischemic encephalopathy (HIE), two neurological conditions associated with high mortality and long-term disability in newborns...