On June 12, 2018 Helix BioPharma Corp. (TSX: HBP) (FRANKFURT: HBP) ("Helix" or the "Company"), a clinical stage
immuno-oncology company developing innovative drug candidates for the prevention and treatment of cancer, reported its financial results for its fiscal quarter ended April 30, 2018 (Press release, Helix BioPharma, JUN 12, 2018, View Source [SID1234527598]).

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FINANCIAL REVIEW
The Company recorded a net loss and total comprehensive loss of $2,147,000 ($0.02 loss per common share) and $2,913,000 ($0.03 loss per common share) for the three-month periods ended April 30, 2018 and 2017, respectively. For the nine-month periods ended April 30, 2018 and 2017, respectively, the Company recorded a net loss and total comprehensive loss of $7,105,000 ($0.07 loss per common share) and $8,819,000 ($0.10 loss per common share).

Research and development
Research and development costs for the three and nine-month periods ended April 30, 2018 totalled $1,435,000 and $5,095,000,respectively ($1,932,000 and $6,111,000 respectively for the three and nine-month periods ended April 30, 2017).

L-DOS47 research and development expenses for the three and nine-month periods ended April 30, 2018 totalled $1,029,000 and $4,039,000, respectively ($1,208,000 and $4,480,000 respectively for the three and nine-month periods ended April 30, 2017). L-DOS47 research and development expenditures relate primarily to the Company’s LDOS002 European Phase I/II clinical study in Poland, its LDOS001 Phase I clinical study in the U.S., preliminary expenditures related to the Company’s LDOS003 Phase II clinical study in Poland and the Ukraine and various other expenditures in support of the Company’s overall L-DOS47 program.

The Company’s LDOS001 clinical study has been facing patient enrolment challenges and as a result the Company most recently increased start-up activities to add 6 additional clinical study sites, with planned recruitment to begin mid-summer 2018. In addition, an accelerated dosing protocol has been approved to help accelerate the LDOS001 clinical study. On May 30th, 2018, the Company announced the completion of the third cohort and the initiation of enrollment in the fourth cohort of the LDOS001 clinical study. Enrolment in the Company’s LDOS002 clinical study was previously terminated due to lack of efficacy and the Company is currently awaiting the finalized reports. Given the limited cash resources, the Company has slowed down the previously committed LDOS003 clinical trial which the Company previously planned to commence enrolment in early 2018.

V-DOS47 research and development expenses for the three and nine-month periods ended April 30, 2018 totalled $133,000 and $310,000, respectively ($309,000 and $659,000 respectively for the three and nine-month periods ended April 30, 2017). For the three and nine-month periods ended April 30, 2018 the Company’s Polish subsidiary received grant funding of $144,000 and $344,000, respectively ($92,000 and $228,000 respectively for the three and nine-month periods ended April 30, 2017). The higher expenditures in the prior year mainly reflect the increase in staff and consulting agreements as the Polish subsidiary ramped up activities in the V-DOS47 program. The Company’s wholly owned subsidiary in Poland has entered into a grant funding agreement with the Polish National Centre for Research and Development for research and development expenditures associated with VDOS47.

CAR-T research and development expenses for the three and nine-month periods ended April 30, 2018 totalled $192,000 and $317,000 respectively ($259 and $259 respectively for the three and nine-month periods ended April 30, 2017). During the current fiscal year, the Company commenced development of novel CAR-T therapeutics and new antibody-based technologies for cellbased therapies. The Company’s CAR-T expenditures relate primarily to collaborative research activities with ProMab Biotechnologies Inc.

Corporate research and development expenses for the three and nine-month periods ended April 30, 2018 totalled $122,000 and $346,000 respectively ($170,000 and $672,000 respectively for the three and nine-month periods ended April 30, 2017). Corporate research and development expenditures mainly reflect wages and benefits and related expenses associated with corporate head office staff. The reduction mainly reflects lower wages because of cost cutting initiatives to reduce headcount and third-party consulting costs.

Trademark and patent related expenses for the three and nine-month periods ended April 30, 2018 totalled $70,000 and $308,000, respectively ($75,000 and $197,000 respectively for the three and nine-month periods ended April 30, 2017). The Company continues to ensure it adequately protects its intellectual property.
Operating, general and administration Operating, general and administration expenses for the three and nine-month periods ended April 30, 2018 totalled $686,000 and $1,856,000, respectively ($944,000 and $2,826,000 respectively for the three and nine-month periods ended April 30, 2017). The decrease in operating, general and administration expenses reflects the Company’s cost cutting initiatives. The Company
eliminated the employment arrangement with its then CEO, who was also a director of the Company, and let go of its controller as part of a headcount reduction plan. Aggressive steps were also taken to reduce unnecessary expenditures such as travel, conferences, etc.…. In addition, various third-party contracts were also eliminated. During the fiscal quarter, the Company hired Deloitte as strategic advisor to explore partnering and licensing opportunities. Cost reductions taken at the head office were partially offset by operating, general and administrative expenditures being incurred at the Company’s newly formed subsidiary in Poland which mainly reflect salaries and benefits, legal and accounting services and overhead costs associated with the administrative office.

The Company recorded a net loss and total comprehensive loss of $2,147,000 ($0.02 loss per common share) and $2,913,000 ($0.03 loss per common share) for the three-month periods ended April 30, 2018 and 2017, respectively. For the nine-month periods ended April 30, 2018 and 2017, respectively, the Company recorded a net loss and total comprehensive loss of $7,015,000 ($0.07 loss per common share) and $8,819,000 ($0.10 loss per common share).

As at April 30, 2018 the Company had a working capital deficiency of $1,915,000, a shareholders’ deficiency of $1,507,000 and a deficit of $162,395,000. As at July 31, 2017 the Company had a working capital deficiency of $504,000, shareholders’ deficiency of $17,000 and a deficit of $155,380,000.
The Company continues to work with vendors to manage its cash position while ensuring vendors continue providing services while being paid, albeit over a longer period of time than previously agreed terms. The Company has raised approximately $6,913,000 from private placement financings during the current fiscal year. Nevertheless, the Company’s cash reserves of $770,000 as at April 30, 2018 in addition to the subsequent private placement on June 7, 2018 for gross proceeds of approximately $941,000 are insufficient to meet anticipated cash needs for working capital and capital expenditures through the next twelve months, nor are they sufficient to see the current or any planned research and development initiatives through to completion.

Though the funds raised have somewhat assisted the Company in dealing with its working capital deficiency and attempts to make vendors current, additional funds are required to advance the various clinical and preclinical programs, pay for the Company’s overhead costs and its past due vendors. To the extent that the Company does not believe it has sufficient liquidity to meet its current obligations, management considers securing additional funds, primarily through the issuance of equity securities of the Company, to be critical for its development needs.
Additional information can be found about the Company’s liquidity and capital resources in the Company’s Management

Discussion and Analysis.
The Company’s condensed unaudited interim consolidated statement of net loss and comprehensive loss for the three and ninemonth periods ending April 30, 2018 and 2017 and the condensed unaudited interim consolidated statement of cash flows for the nine-month periods ending April 30, 2018 and 2017

On June 12, 2018 Bexion Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company focused on rare brain and solid tumors, reported data from 17 patients enrolled in the Phase Ia portion of its ongoing Phase I Safety Trial at the American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting Poster Session, held in Chicago June 1-5, 2018 (Press release, Bexion, JUN 12, 2018, View Source [SID1234527440]).

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In the poster presentation entitled, "First-in-class Phase Ia Study of BXQ-350 for Solid Tumors and Gliomas", the preliminary data showed:

9 patients with Glioblastoma Multiforme (GBM); 8 patients with other solid tumors
Patients had a median 7 prior systemic therapies
No Dose Limiting Toxicities (DLTs)
No treatment –related serious adverse events (SAEs)
Most common treatment-related moderate AEs were transient fatigue
Best response in 7 patients completing to day 113:
1 Partial Response (appendiceal carcinoma)
6 Stable Disease (improved day 113 RANO/RECIST
1 High Grade Glioma Stable Disease >19+ months
"Bexion’s team was excited to share our Phase Ia data at the ASCO (Free ASCO Whitepaper) conference," stated Dr. Ray Takigiku, Founder and CEO. "With this promising data indicating the potential for a tumor agnostic approach, Bexion is now enrolling patients with solid tumors and gliomas in Phase 1b, and we are initiating efforts to towards a Phase 1 trial in pediatrics and combination Phase 2 studies in adults".

About BXQ-350

BXQ-350 is a unique formulation of a synthetically produced, human lysosomal protein, Saposin C (sphingolipid activator protein, or SapC), and the phospholipid dioleoylphosphatidylserine (DOPS).

On June 12, 2018 Surface Oncology (NASDAQ:SURF), a clinical-stage immuno-oncology company developing next-generation immunotherapies that target the tumor microenvironment, reported the initiation of a Phase I trial of SRF373, a fully human antibody targeting CD73. SRF373, also known as NZV930, is the second of Surface’s immunotherapies to advance into the clinic this year (Press release, Surface Oncology, JUN 12, 2018, View Source [SID1234527367]).

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CD73 is an enzyme overexpressed by many tumors that is critical to the production of extracellular adenosine which in turn suppresses immune cell function and the ability of the immune system to recognize and attack tumors. In preclinical studies, NZV930 exhibited potent CD73 enzymatic inhibition, resulting in a reduction of adenosine and increased activity of immune cells.

The first-in-human study is being led by Novartis, which was granted a worldwide exclusive license to develop and commercialize NZV930 as part of its broad strategic collaboration with Surface. Under the collaboration, Surface is eligible to receive development and sales milestone payments for NZV930, as well as tiered royalties.

The Phase I study will evaluate the safety, tolerability, and preliminary anti-tumor activity of NZV930 as a single agent and in combination with other cancer immunotherapies. The initial dose escalation portion of the trial will include patients with triple negative breast cancer, ovarian cancer, microsatellite stable colon cancer, pancreatic cancer, non-small cell lung cancer, and renal cell carcinoma.

"We are very excited that Novartis has advanced our second product program into clinical development" said Rob Ross, M.D., chief medical officer of Surface Oncology. "We believe the profile of NZV930 is compelling and targeting adenosine reduction could play an important role in the treatment of patients suffering with a variety of types of cancer."

ABOUT SRF373 / NZV930

NZV930 is a fully human monoclonal antibody designed to inhibit CD73, an enzyme critical to the production of adenosine—an immunosuppressive metabolite within the tumor microenvironment. CD73 is overexpressed by many tumors making it a potential target with broad applicability. In preclinical studies, NZV930 exhibited potent CD73 enzymatic inhibition, resulting in a reduction of adenosine and increased T cell activity. Novartis holds a worldwide exclusive license to develop and commercialize NZV930.

On June 12, 2018 PharmaMar (MSE:PHM) reported that basedmon recent receipt of OS (overall survival) data from lurbinectedin Phase II small-cellmlung cancer studies, including the monotherapy trial presented at ASCO (Free ASCO Whitepaper) on June 3rd that saw an OS of 11.8 months, a protocol amendment was submitted to FDA and other competent authorities to change the primary endpoint of the ATLANTIS Phase III trial from PFS (progression free survival) to OS (Press release, PharmaMar, JUN 12, 2018, View Source [SID1234527288]). The changes will begin when the competent authorities with responsibility for review and approval of the study approve of the changes, which in the US we expect to happen in the next few weeks. The safety of the patients and the integrity of this study are not compromised by these changes. PharmaMar remains blinded to the data, and
continues to expect completion of recruitment in the third quarter of 2018. This means PharmaMar expects the top line data, which is event driven, to readout in the second half of 2019.

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According to Luis Mora, Managing Director of PharmaMar´s Oncology Business Unit, "we feel that this change in endpoint to OS given what we have seen in the recent data, including those presented at ASCO (Free ASCO Whitepaper), offers us a better chance for success, especially as we know regulators prefer OS data over a surrogate endpoint subject to interpretation in this type of disease setting."

About Zepsyre
Zepsyre (lurbinectedin, PM1183) is a compound under clinical investigation. It is an inhibitor of RNA polymerase II. This enzyme is essential for the transcription process that is over-activated in tumors with transcription addiction.

About small-cell lung cancer
SCLC is a very aggressive cancer that usually presents with distant metastases and has already spread at the time of diagnosis, thus limiting the role of traditional approaches and posing a worse prognosis compared to other lung cancer types. The 5-year survival rate is about 5%i About 18% of all the lung cancer cases diagnosed are SCLC, and only in the US more than 34,000 new cases are recorded everyyear. This tumor is strongly associated with tobacco smoking, posing an important public health problemii

After failure to treatment with a platinum-based therapy in first line, the therapeutic alternatives are very limited, and the approval of the last drug for this disease took place 20 years ago.

On June 12, 2018 OncoMed Pharmaceuticals Inc. (NASDAQ:OMED), a clinical-stage biopharmaceutical company focused on discovering and developing novel anti-cancer therapeutics, reported that the first patient has been dosed in the company’s Phase 1b portion of the Phase 1a/1b clinical trial of anti-TIGIT (OMP-313M32) in combination with anti-PD1 (nivolumab) (Press release, OncoMed, JUN 12, 2018, View Source [SID1234527286]). TIGIT (T-cell immunoreceptor with Ig and ITIM domains) is a next generation checkpoint receptor, and upon activation by the PVR ligand, a protein broadly expressed on tumor cells, it blocks T-cell activation. OncoMed’s anti-TIGIT candidate is an IgG1 monoclonal antibody checkpoint inhibitor which binds to the human TIGIT receptor on T-cells with a goal of improving the activation and effectiveness of T-cell and NK cell tumor-killing activity.

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"The dosing of the first patient in the Phase 1b portion of the anti-TIGIT trial marks an important milestone in the advancement of this therapeutic candidate through the clinic, where we will be evaluating the potential synergy of our anti-TIGIT monoclonal antibody with anti-PD1," said John Lewicki, Ph.D., president and chief executive officer of OncoMed. "We look forward to continuing our exploration of the potential anti-tumor activity of anti-TIGIT and its ability to combine safely with anti-PD1 in key clinical oncology settings. Simultaneously, dose escalation in the Phase 1a portion of the trial is nearing completion and dose expansion in select tumor types is planned."

The Phase 1b portion of the open-label Phase 1a/1b clinical trial is designed to assess safety, tolerability, preliminary efficacy, and biomarkers with escalating doses of anti-TIGIT in combination with anti-PD1 in the treatment of patients with selected advanced or metastatic solid tumors who have progressed after treatment with anti-PD1 or anti-PD-L1. The Phase 1a/1b trial is being conducted at 5 centers in the U.S., and OncoMed currently plans to enroll approximately 12 patients in the Phase 1b portion of the study. The trial will define a dosing regimen that could provide the basis for expanded studies of anti-TIGIT in combination with anti-PD1.

About TIGIT
TIGIT blocks T-cells from attacking tumor cells and is similar in structure and function to the inhibitory protein PD-1. OncoMed’s anti-TIGIT antibody (OMP-313M32) is intended to activate the immune system through multiple mechanisms and enable anti-tumor activity. At the 2018 AACR (Free AACR Whitepaper) Annual Meeting, OncoMed presented preclinical data (Abstract 5627) which demonstrated that anti-TIGIT treatment reduced the abundance of regulatory T-cells (Tregs) within tumors in animal models. Mechanistic studies demonstrated an important contribution of effector function for anti-tumor efficacy. Using a surrogate anti-TIGIT antibody, potent single-agent dose-dependent anti-tumor efficacy was demonstrated on large established CT26 WT tumors. Anti-TIGIT efficacy was shown to require effector function for tumor growth inhibition and biomarker analysis demonstrated reduction of Treg frequency and activation of T-cells and NK cells as part of the mechanism of action of anti-TIGIT. CD226, a co-receptor for TIGIT’s ligands PVR and PVRL2, was significantly upregulated in T-cells, Tregs and NK cells, reflecting a feedback loop activated by the inhibition of TIGIT activity. Additionally in a human tissue study, TIGIT expression on Tregs was found to be considerably higher than on CD8+ T-cells in multiplexed IHC panels across a panel of multiple solid tumors types. This program is part of OncoMed’s Celgene collaboration.