Actinium Achieves Fifty Percent Enrollment in the Pivotal Phase 3 SIERRA Trial for Iomab-B

On July 23, 2019 Actinium Pharmaceuticals, Inc. (NYSE AMERICAN: ATNM) ("Actinium") reported that the 75th patient has been treated in the pivotal Phase 3 SIERRA trial of Iomab-B, thus achieving 50 percent patient enrollment for the trial (Press release, Actinium Pharmaceuticals, JUL 23, 2019, View Source [SID1234537663]).

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The SIERRA trial or Study of Iomab-B in Elderly Relapse Refractory Acute Myeloid Leukemia is the only randomized Phase 3 trial that offers BMT or bone marrow transplant as an option for older patients with active, relapsed or refractory AML or acute myeloid leukemia. BMT is the only potentially curative treatment option for patients with relapsed or refractory AML and there is no standard of care for this indication. Iomab-B is an ARC or Antibody Radiation-Conjugate comprised of the anti-CD45 antibody apamistamab and the radioisotope I-131 or iodine-131. The 19 active SIERRA trial sites in the U.S. and Canada represent many of the leading bone marrow transplant centers by volume.

Dr. Mark Berger, Actinium’s Chief Medical Officer, said, "We are delighted to reach this key milestone in the SIERRA trial. The positive data thus far has lately translated to great enthusiasm from the trial sites for the study, and we believe this milestone will provide additional impetus. SIERRA is a first of its kind trial and to reach this point, our team has worked diligently to connect all stakeholders within the trial sites, obtain referrals of these patients who would not normally be considered for transplant, satisfy all regulations and establish a supply chain to service many of the leading transplant centers in the U.S. and Canada. In addition, we have made several protocol modifications that resulted in a stronger and more efficient trial. With 19 active clinical trial sites, positive preliminary feasibility and safety data and strong investigator enthusiasm, I believe the hardest part of the trial is now behind us. Our SIERRA team, which includes experts in AML, BMT, patient care, drug administration, radiation sciences and trial operations, is stronger and more committed than ever to the execution of SIERRA. Together we bring a multi-disciplinary approach to every patient screened for the SIERRA trial and will work tirelessly to complete a successful trial that can bring this important therapy to patients underserved by current treatment options."

Preliminary feasibility and safety data from the first twenty-five percent of patients enrolled in the SIERRA trial were presented at several key medical conferences, including at an oral presentation at ASH (Free ASH Whitepaper) 2018, in a late breaking oral presentation at TCT 2019, and in a poster at ASCO (Free ASCO Whitepaper) 2019. Key highlights from this data include:

ASH 2018 – Oral Presentation of Preliminary Feasibility and Safety Data

Conclusion: Encouraging results with potential to broaden transplant eligibility and improve outcomes

100% (18/18) of patients randomized and receiving the Iomab-B therapeutic dose received a BMT and achieved rapid engraftment
79% (15/19) of patients randomized to conventional care did not achieve CR or Complete Remission and could not receive a BMT
67% (10/15) of patients who failed to achieve get a BMT with conventional care still met the eligibility criteria and were able to cross over and receive Iomab-B
100% (10/10) of patients that crossed over and received the Iomab-b achieved engraftment without delay
Rapid engraftment achieved despite high blast counts
30% median blast count for Iomab-B patients (range:4-74%)
45% median blast count for crossover patients at time of crossover (range:10-70%)
Patients receiving Iomab-B received a BMT in a median time of 28 days compared to a median of 67 days for patients receiving conventional care who achieved CR and received a conventional BMT
0% (0/18) 100-day non-relapse mortality for Iomab-B patients compared to 25% (1/4) 100-day non-relapse mortality for conventional care patients achieving CR and receiving conventional transplant
TCT 2019 – Late Breaking Oral Presentation of Additional Feasibility and Safety Data

New Findings: Conditioning with Iomab-B results in Full Donor Chimerism, indicating successful bone marrow transplant

94% (17/18) of patients randomized to Iomab-B achieved Full Donor Chimerism > 95% within 100 days post-BMT with 1 patient achieving 65% donor chimerism
90% (9/10) of patients who crossed-over to receive Iomab-B achieved Full Donor Chimerism > 95% within 100 days post-BMT with 1 patient achieving 86% donor chimerism
ASCO 2019 – Poster Presentation of Iomab-B Single Agent Activity

Conclusion: Iomab-B as a single-agent rapidly clears circulating leukemic blasts leading to targeted myeloablation and successful engraftment after BMT, which benefits patients who had prolonged neutropenia due to active and refractory disease prior to transplant

Iomab-B as a single agent produced a 98% reduction in peripheral blasts by day 3 and a 100% reduction in peripheral blasts by day 8 leading to a significantly lower circulating leukemia tumor burden prior to BMT
Time to clearance of circulating tumor blasts shown to be an independent prognostic marker for Relapse-Free Survival in patients receiving chemotherapy that superseded all other known risk factors including karyotype and number of cycles of induction therapy needed to achieve CR1.
Dr. Vijay Reddy, VP, Clinical Development and Head of Transplant at Actinium, added, "I am thrilled with the data we have seen from the SIERRA trial thus far. This strong and supportive data being prominently featured at three major medical conferences has resulted in robust appreciation and interest for the SIERRA trial from sites and investigators. This has facilitated extensive site visits and interactions where we have highlighted the robust body of evidence supporting Iomab-B and SIERRA to transplant physicians, referring hematologists and caregivers at current and prospective sites, which have been well received. We will continue an extensive outreach effort to highlight the universal engraftment seen in all patients receiving Iomab-B despite high leukemia burden, the high BMT and engraftment rates for patients who fail the control arm and crossover to receive Iomab-B, and Iomab-B’s strong single agent activity. Our team is excited to continue our efforts to drive further interest for patient enrollment, and we are optimistic for the remainder of the SIERRA trial based on the data we have observed thus far, which is trending in line with results shown by Iomab-B in several prior Phase 2 trials."

Sandesh Seth, Actinium’s Chairman and CEO, said, "I am proud of our team for reaching this key milestone in the SIERRA trial as it represents a major inflection point for Actinium. Iomab-B is our lead asset for targeted conditioning prior to a BMT. Targeted conditioning is an area of opportunity and unmet medical need for which we have assembled a multi-target pipeline of assets for several attractive indications. We believe we can create significant value by focusing on targeted conditioning indications where, due to safety and efficacy issues related to existing regimens, patients either cannot access, or receive sub-optimal results from, potentially lifesaving therapies such as BMT, CAR-T and other adoptive cell therapies. Our vision is to create the leading franchise producing multiple therapies for BMT, CART-T and cell therapy-related targeted conditioning and to deliver them via a world-class supply chain and commercial organization to the concentrated number of leading medical centers that treat a majority of patients receiving these therapies. We are confident that Iomab-B and the SIERRA trial can become the linchpin to make this vision a reality, and we are fully committed to achieving near-term success with the SIERRA trial and long-term value with our multi-asset, targeted conditioning pipeline."

Sources:

1) Elliott et al. Early peripheral blood blast clearance during induction chemotherapy for acute myeloid leukemia predicts superior relapse-free survival. Blood. 2007 Dec 15; 110(13):4172-4. Epub 2007 Oct 1.

Ultragenyx to Host Conference Call for Second Quarter 2019 Financial Results and Corporate Update

On July 23, 2019 Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE), a biopharmaceutical company focused on the development of novel products for serious rare and ultra-rare genetic diseases, reported that it will host a conference call on Thursday, August 1, 2019 at 5pm ET to discuss second quarter 2019 financial results and provide a corporate update (Press release, Ultragenyx Pharmaceutical, JUL 23, 2019, http://ir.ultragenyx.com/news-releases/news-release-details/ultragenyx-host-conference-call-second-quarter-2019-financial [SID1234537661]).

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The live and replayed webcast of the call will be available through the company’s website at View Source To participate in the live call by phone, dial (855) 797-6910 (USA) or (262) 912-6260 (International) and enter the passcode 6298416. The replay of the call will be available for one year.

Quest Diagnostics Reports Second Quarter 2019 Financial Results

On July 23, 2019 Quest Diagnostics Incorporated (NYSE: DGX), the world’s leading provider of diagnostic information services, reported financial results for the second quarter ended June 30, 2019 (Press release, Quest Diagnostics, JUL 23, 2019, View Source [SID1234537660]).

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"Our volume growth accelerated in the second quarter due to our expanded network access, and we continued to build momentum through the first half of 2019," said Steve Rusckowski, Chairman, CEO and President. "This strong volume growth combined with our strategy to drive operational excellence helped offset the significant reimbursement pressures we are experiencing this year. We are excited by our new Preferred Lab Network status within UnitedHealthcare, which represents a multi-year opportunity that will build over time."

For further details impacting the year-over-year comparisons related to operating income, operating income as a percentage of net revenues, income from continuing operations attributable to Quest Diagnostics, and diluted EPS from continuing operations, see note 2 of the financial tables attached below.

Beginning in 2019, the company has changed how it presents adjusted income measures to additionally exclude amortization expense for all periods presented. We believe this presentation provides investors with additional insight to evaluate our performance period over period and relative to competitors, as well as to analyze the underlying trends in our business.

The outlook for reported diluted EPS from continuing operations was updated to greater than $5.29 from the previous outlook of greater than $5.16 due to the impact of special items in the second quarter. For a reconciliation of adjusted diluted EPS to reported diluted EPS from continuing operations, see note 5 to the financial tables attached below.

Note on Non-GAAP Financial Measures

As used in this press release the term "reported" refers to measures under the accounting principles generally accepted in the United States ("GAAP"). The term "adjusted" refers to non-GAAP operating performance measures that exclude special items such as restructuring and integration charges, amortization expense, excess tax benefit ("ETB") associated with stock-based compensation and other items.

Non-GAAP adjusted measures are presented because management believes those measures are useful adjuncts to GAAP results. Non-GAAP adjusted measures should not be considered as an alternative to the corresponding measures determined under GAAP. Management may use these non-GAAP measures to evaluate our performance period over period and relative to competitors, to analyze the underlying trends in our business, to establish operational budgets and forecasts and for incentive compensation purposes. We believe that these non-GAAP measures are useful to investors and analysts to evaluate our performance period over period and relative to competitors, as well as to analyze the underlying trends in our business and to assess our performance. The additional tables attached below include reconciliations of non-GAAP adjusted measures to GAAP measures.

Conference Call Information

Quest Diagnostics will hold its quarterly conference call to discuss financial results beginning at 8:30 a.m. Eastern Time today. The conference call can be accessed by dialing 888-455-0391 within the U.S. and Canada, or 773-756-0467 internationally, passcode: Investor; or via live webcast on the company’s website at www.QuestDiagnostics.com/investor. The company suggests participants dial in approximately 10 minutes before the call.

A replay of the call may be accessed online at www.QuestDiagnostics.com/investor or by phone at 800-871-1320 for domestic callers or 402-280-1688 for international callers. No passcode is required. Telephone replays will be available from approximately 10:30 a.m. Eastern Time on July 23, 2019 until midnight Eastern Time on August 6, 2019. Anyone listening to the call is encouraged to read the company’s periodic reports, on file with the Securities and Exchange Commission, including the discussion of risk factors and historical results of operations and financial condition in those reports.

Dr. Reddy’s Q1 FY11 Financial Results: Revenue at Rs. 16.8 billion ($363 million); EBITDA at Rs. 3.4 billion ($74 million); Profit after Tax at Rs. 2.1 billion ($45 million)

On July 22, 2019 Dr. Reddy’s Laboratories Ltd. (NYSE: RDY) reported its unaudited financial results for the quarter ended June 30, 2010 under International Financial Reporting Standards (IFRS) (Press release, Dr Reddy’s, JUL 22, 2019, View Source [SID1234540967]).

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Key Highlights

Consolidated revenues are at Rs. 16.8 billion ($363 million) in Q1 FY11 versus Rs. 18.2 billion ($392 million) in Q1 FY10. Excluding the revenues from sumatriptan in the previous year, the year-on-year growth is 4%.
Revenues from Global Generics for Q1 FY11 are at Rs. 11.9 billion ($257 million). Excluding the revenues from sumatriptan, the year-on-year growth is 9%.
Revenues from PSAI are at Rs. 4.5 billion ($97 million) in Q1 FY11.
Profit before Tax for Q1 FY11 is at Rs. 2.5 billion ($53 million).
EBITDA of Rs. 3.4 billion ($74 million) in Q1 FY11, represents 20% to revenues.
Profit after Tax for Q1 FY11 is at Rs. 2.1 billion ($45 million).
During the quarter, the company launched 32 new generic products, filed 26 new product registrations and filed 3 DMFs globally.
During the quarter, Dr. Reddy’s transferred dossiers and trademarks for nine currently marketed products in Brazil to GSK, for a consideration of $4 million. The agreement also provides for additional consideration towards other products in the pipeline based on specified milestones. The milestone payments under this deal will be recognized as revenue over the term of the product supply agreement.

Includes amortization charge of Rs. 288 million ($6 million) in Q1 FY11 and Rs. 507 million ($11 million) in Q1 FY10.

Includes forex loss of Rs. 225 million ($5 million) in Q1 FY11 and Rs. 84 million ($2 million) in Q1 FY10.

Global Generics

Revenues from Global Generics segment are at Rs. 11.9 billion ($257 million) in Q1 FY11. Excluding the revenues from sumatriptan in the US, the growth is 9%.

Revenues from North America at Rs. 3.9 billion ($84 million) in Q1 FY11 versus Rs. 6.0 billion ($130 million) in Q1 FY10. Excluding the revenues from sumatriptan, the growth is 5% in dollar currency.
As at June 30, 2010, total cumulative ANDA filings are 163. Total ANDAs pending approval at the USFDA are 71 of which 36 are Para IVs and 12 are FTFs.
Revenues from Europe at Rs. 1.9 billion ($42 million) in Q1 FY11 versus Rs. 2.1 billion ($45 million) in Q1 FY10.
Revenues from Germany decrease by 18% to Rs. 1.3 billion ($28 million) in Q1 FY11. For the same period the decline in Euro currency is 6%.
Revenues from Rest of Europe grew by 29% to Rs. 516 million ($11 million) in Q1 FY11 largely led by the 21% growth in UK.
Revenues from Russia & Other CIS markets at Rs. 2.6 billion ($55 million) in Q1 FY11 versus Rs. 1.9 billion ($40 million) in Q1 FY10, or a growth of 36%.
Revenues in Russia at Rs. 2.1 billion ($44 million) in Q1 FY11 versus Rs. 1.5 billion ($33 million) in Q1 FY10 or a year-on-year growth of 35%.
Dr. Reddy’s year-on-year secondary prescription sales growth stands at 33% versus industry’s growth of 21%. (Source: Pharmexpert April-May 2010)
Revenues in Other CIS markets increase by 43% to Rs. 489 million ($11 million) in Q1 FY11 versus Rs. 342 million ($7 million) in Q1 FY10.
Revenues in India at Rs. 2.8 billion ($60 million) in Q1 FY11 versus Rs. 2.4 billion ($52 million) in Q1 FY10, a growth of 16% which is largely led by volume growth of existing products.
Dr. Reddy’s year-on-year secondary prescription sales growth is 22% versus industry’s growth of 20%.
(Source: ORG IMS MAT Jun 2010)
11 new products launched during the quarter.
Pharmaceutical Services and Active Ingredients (PSAI)

Revenues from PSAI are at Rs. 4.5 billion ($97 million) in Q1 FY11.
During the quarter, 3 DMFs were filed globally. The cumulative DMF filings as of Jun 10 are 378.
Income Statement Highlights:

Gross profit at Rs. 8.9 billion ($192 million) in Q1 FY11 at a margin of 53% to revenues versus 56% in Q1 FY10. This change in gross margin is largely on account of a favorable mix of high margin revenues from sumatriptan in the previous year.
Selling, General & Administration (SG&A) expenses excluding amortization for the quarter is at Rs. 5.2 billion ($112 million) or a decline of 4% over the previous year. Excluding the one-time charges recorded on account of betapharm workforce restructure costs of Rs. 496 million ($11 million) and the closure of Atlanta facility of Rs. 71 million ($2 million) in the previous year, SG&A grew by 7%.
Amortization expenses for the quarter is at Rs. 288 million ($6 million) versus Rs. 507 million ($11 million) in Q1 FY10. This decline is on account of the impairment of intangibles recorded in Q3 FY10.
Other Operating Income of Rs. 186 million ($4 million) in Q1 FY11 versus Rs. 35 million ($1 million) in Q1 FY10.
R&D expenses at Rs. 993 million ($21 million) in Q1 FY11.
Finance costs (net) are at Rs. 177 million ($4 million) in Q1 FY11 versus Rs. 135 million ($3 million) in Q1 FY10. The change is mainly on account of higher forex loss during the quarter
Net forex loss of Rs. 225 million ($5 million) in Q1 FY11 versus Rs. 84 million ($2 million) in Q1 FY10.
EBITDA at Rs. 3.4 billion ($74 million) in Q1 FY11 represents 20% to sales.
Net Profit after Tax for Q1 FY11 is at Rs. 2.1 billion ($45 million).
Diluted EPS is at Rs. 12.3 ($0.3) for the quarter.
Capital expenditure for the quarter is at Rs. 1.9 billion ($40 million).

Entry into a Material Definitive Agreement

On July 22nd, 2019, Mateon Therapeutics, Inc., a Delaware corporation (the "Company") reported that it entered into a note purchase agreement (the "Note Purchase Agreement") with PointR Data, Inc. Pursuant to the Note Purchase Agreement, the Company issued a convertible promissory note (the "Convertible Note") to PointR Data, Inc. in the principal amount of $200,000 (Press release, Mateon Therapeutics, JUL 22, 2019, View Source [SID1234537694]). PointR Data is developing Artificial Intelligence/Deep Learning Platform for multiple business verticals including life sciences.

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The Convertible Note bears interest at a rate of 8% per annum. Interest payments are due monthly on the 15th day of each calendar month (or the next business day thereafter), and are payable, at the option of the Holder, either in cash or in shares of the Company’s common stock, par value $0.01 per share (the "Common Stock"), valued at the closing price of the Common Stock on the principal market on which the Common Stock is either traded or quoted at such time.

The Convertible Note is due and payable on demand by the holder (a) at any time after January 1, 2020 or (b) upon the occurrence of an Event of Default (as defined in the Convertible Note and the Note Purchase Agreement). The Company can prepay the Convertible Note upon notice to the holder without penalty.

All amounts outstanding under the Convertible Note will be automatically be converted into the Company’s securities issued in next equity financing raising gross proceeds of $10 million or more (a "Qualified Financing") at the price per share paid by investors in the Qualified Financing.

The Convertible Note and the Note Purchase Agreement contain customary Events of Default, including nonpayment, breach of warranty or covenant, and bankruptcy. In addition, the Convertible Note is being issued in connection with the preliminary evaluation of the Company’s acquisition of PointR Data, Inc. Discussion are in the early states and there are no definitive agreements or arrangements in place for any such acquisition at this time. It is an Event of Default under the Note Purchase Agreement, and PointR Data, Inc. shall have the right to demand repayment of the Convertible Promissory Note, if the Company ceases to negotiate in good faith for a potential acquisition of PointR Data, Inc.

The Company’s payment obligations under the Convertible Note are secured by certain MRI imaging data and related information (the "Subject Data"). Effective upon an Event of Default, in addition to any other remedies available to PointR Data, Inc. the Company will automatically grant PointR Data, Inc. a perpetual, irrevocable, world-wide, non-exclusive, royalty-free, fully paid-up, sublicensable, and transferable license to use the Subject Data. The license granted to Holder pursuant to this Section 7 shall survive the termination or repayment of this Note (but shall only be effective from and after the occurrence of an Event of Default).

On July 22, 2019, under the terms of the Note Purchase Agreement, the Company issued a $200,000 principal amount Convertible Note to PointR Data, Inc.

Additional information on the terms of the Convertible Note, including the interest rate, payment terms, conversion rights and events of default, is contained in Item 1.01 of this Current Report on Form 8-K, and is incorporated by reference herein.

Item 3.02 Unregistered Sales of Equity Securities.

On July 22, 2019, the Company issued a $200,000 principal amount Convertible Note to PointR Data, Inc.

The Convertible Note was issued in reliance upon the exemption from registration requirements pursuant to Section 4(a)(2) under the Securities Act of 1933, as amended, the rules promulgated thereunder and pursuant to applicable state securities laws and regulations.

References to Agreements

The descriptions of the Note Purchase Agreement and the Convertible Note in this report do not purport to be complete and are qualified in their entirety by reference to the forms of Note Purchase Agreement and Convertible Note, which are attached as Exhibits to this Current Report on Form 8-K, and each of which is incorporated herein by reference.

The agreements have been included to provide investors and stockholders with information regarding their respective terms. Those agreements are not intended to provide any other factual information about the Company. The representations, warranties and covenants contained in those agreements were made only for purposes of those agreements and as of specific dates, were solely for the benefit of the parties to those agreements, may be subject to limitations agreed upon by the contracting parties, and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors are not third-party beneficiaries under any of the agreements and should not rely on the representations, warranties or covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the Company. Moreover, information concerning the subject matter of the representations and warranties may change after the date of the agreements, which subsequent information may or may not be fully reflected in the Company’s public disclosures.