OS Therapies Acquires All Indications for OST-HER2 (Listeria monocytogenes) in Solid Tumors, Including Canines

On November 17, 2020 OS Therapies, a clinical-stage biopharmaceutical company focused on discovering and developing innovative therapies to treat and cure Osteosarcoma (OS) and other deadly cancers in children and adults, reported the acquisition of all indications for OST-HER2 (Listeria monocytogenes), including Canine (Press release, OS Therapies, NOV 17, 2020, View Source [SID1234571293]). The technology that was developed and extensively tested at University of Pennsylvania, has been provisionally approved by the USDA for Osteosarcoma in canines. Phase I and Phase III trials conducted in canines have had very positive results.

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OS Therapies believes now is the time to see if the technology works in humans as well as it does in Canines. The AOST-2121 clinical trial sponsored by OS Therapies and in coordination with the Children’s Oncology Group (COG) will be the first trial of OST-HER2 in Adolescents and Young Adults (AYA) with Osteosarcoma, a deadly and debilitating bone cancer. That trial is scheduled to start in early 2021.

"We are extremely excited to have the Intellectual Property (IP) for all indications of this very promising technology targeting HER2 solid tumors," said Paul Romness, CEO of OS Therapies. "It will ensure innovation and development across the platform technology, hopefully treating solid tumors in humans, as well as our four-legged friends…"

Pressure BioSciences, Inc. Reports Third Quarter 2020 Financial Results and Provides Business Update

On November 17, 2020 Pressure BioSciences, Inc. (OTCQB: PBIO) ("PBI" or the "Company"), a leader in the development and sale of broadly enabling, pressure-based instruments, consumables, services, and platform solutions to the worldwide life sciences and other industries, reported financial results for the third quarter ended September 30, 2020, provided a business update, and offered limited guidance for FY2021 (Press release, Pressure BioSciences, NOV 17, 2020, View Source [SID1234571292]).

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Mr. Richard T. Schumacher, President and CEO of PBI, commented: "We are delighted with the results of the third quarter 2020, particularly in the measurable progress made in three important areas: (i) key operational and technical projects (see highlight bullets below); (ii) revenue increases in our products and services offerings; and (iii) important restructuring improvements in the reduction of onerous, variable-rate convertible debt. As previously reported, the Company’s first and second quarter 2020 results were substantially impacted by business interruptions and/or distractions for PBI clients and prospects. However, third quarter 2020 results demonstrated a dramatic recovery, with Q3 total revenue exceeding the revenue of Q1 and Q2 2020 combined and topping all previous quarterly revenue results since Q4 2018. Similarly, instrument sales in Q3 2020 exceeded instrument sales in Q1 and Q2 2020 combined, and contracted services revenue for our Ultra Shear Technology ("UST") nanoemulsions and BaroFold biopharmaceutical protein refolding and recovery platforms in Q3 2020 also exceeded revenue for the same services in Q1 and Q2 2020 combined."

Mr. Schumacher continued: "We have been especially proud of our strong progress in the restructuring and reduction of onerous, variable-rate convertible debt and the consequential improvement in our investment grade profile. On December 31, 2019 we carried approximately $5.4 million of very expensive, variable-rate convertible debt on our books. We successfully reduced this onerous debt to approximately $1.7 million by Sept 30, 2020 through a combination of cash and conversion into PBIO common stock at a value of $2.50/share. We also carried about $1.1M in merchant cash advances ("MCAs") on December 31, 2019; MCA balances were reduced to $0 by September 30, 2020, primarily through a combination of cash, conversion of debt into stock at a value of $2.50/share, and warrant awards with a $3.50 exercise price. Cash for the debt paydowns and restructurings above was sourced from friendly, long-term investors who we anticipate, based on past performance, will likely convert their safer, less onerous fixed-rate loans into equity in the near future."

Recent Operational and Technical Highlights

Launch of our Revolutionary UST-Based System to Make High Quality, Stable, Water-Soluble Nanoemulsions

On target to launch our unique BaroShear K45 Nanoemulsification System by mid-2021
Novel, proprietary system designed to revolutionize the processing of immiscible liquids (like oils in water) into water-soluble, long-term stable, highly absorbable, innately bioavailable nanoemulsions
Resulting formulations could potentially have enormous success in many very large and rapidly growing markets, including high-value pharmaceuticals, cosmetics, nutraceuticals (such as CBD-infused products), liquid foods and beverages, as well as industrial products including inks, paints and lubricants
Announced receipt of purchase orders for twelve (12) BaroShear K45 nanoemulsification systems being manufactured for mid-2021 release
Completed build-out of our GMP-compliant manufacturing laboratory, an application development showcase for the BaroShear K45 and our industrial scale, high volume (2 liters/minute) UST-based nanoemulsification systems
Expansion of our Recently Launched BaroFold Contract Services Business

We entered into ongoing service agreements with two biopharma companies seeking to determine if our patented BaroFold platform could significantly impact and improve the quality of their early-stage protein therapeutics
We began discussions with potential CRO and CMO partners for the expansion of our BaroFold services
We continued to expand the PBIO contract services laboratory with additional specialized equipment and new methods/applications
Intellectual Property (Patents)

We were awarded the first U.S. patent for our revolutionary Ultra Shear Technology Platform.
We were awarded a pivotal U.S. patent for our best-selling, pressure-based consumable device, the PCT MicroPestle
Collaborations

We signed a worldwide, co-marketing alliance with Leica Microsystems (a Danaher company), integrating PBI’s Pressure Cycling Technology ("PCT") with their laser microdissection platform, prior to mass spec analyses. Leica and PBI believe that the combination of their proprietary technology platforms provides the potential to accelerate cancer R&D with an innovative and proprietary tumor processing workflow
Earlier this year, PBI and RedShiftBio demonstrated the potential of combining their proprietary technologies to enable a new tool for the development and production of biotherapeutics
Financial Results: Q3 2020 vs. Q3 2019 (rounded to nearest hundred except earnings per share)

Products and services revenues were $534,000 for the 2020 third quarter compared to $501,000 for the same quarter of 2019, a 7% increase. This increase was primarily attributable to increased sales of instruments, which totaled $312,700 in Q3 2020 compared to $185,800 in Q3 2019, an increase of 68%. Revenue from consumable products was $49,000 for the third quarter of 2020 compared to $112,000 for the same period in 2019, a 56% decrease. Contracted scientific services for BaroFold protein refolding applications and UST services provided revenue of $84,200 in Q3 2020, compared to $149,200 in Q3 2019, a decrease of 44%. These decreases in consumable product sales and scientific services were primarily attributable to the negative impact that the COVID-19 pandemic had on the operations of many of our customers.

Operating loss for Q3 2020 was $819,000 compared to $1,069,000 for the same period in 2019, a decrease in operating loss of 23%. This decrease was primarily due to lower investor relations services, stock-based compensation expenses, personnel costs, and marketing expenditures.

Loss per common share – basic and diluted– was $(1.02) for Q3 2020 compared to loss per common share of $(2.20) for the same period in 2019.

PBI’s Chairman of the Board, Mr. Jeffrey N. Peterson, offered an overview perspective: "The excitement of our early vision for PBI was based upon the anticipated broad potential of multiple, patented high-pressure technology platforms, now spanning the PCT platform for sample preparation, the BaroFold platform for protein refolding/recovery of biotherapeutics, and the UST platform for processing a new generation of extremely effective nanoemulsions. These unique and proprietary pressure-based platforms address numerous and diverse large market opportunities worldwide. The Company has successfully developed and poised these technologies for market readiness, rapid revenue growth, and a path to major revenue growth and profitability in 2021. We believe that the restructuring of PBI’s debt, already alleviating much of our onerous variable-rate convertible debt exposure, has dramatically repositioned the Company for new investment to eliminate the remaining onerous variable-rate debt, fund our UST platform inventory build for the twelve pre-orders already received for the new BaroShear K45 nanoemulsification system, and drive our conversion to profitability by late 2021."

Earnings Call

The Company will hold an Earnings Conference Call at 4:30 PM EDT on Tuesday, November 17, 2020. To attend this teleconference via telephone, Dial-in: (877) 407-8033 (North America), (201) 689-8033 (International). Verbal Passcode: PBIO Third Quarter 2020 Financial Results Call. Replay Number (877) 481-4010 (North America), (919) 882-2331 (International); Replay ID Number: 38901. Teleconference Replay Available for 30 days.

Medtronic to Announce Financial Results for its Second Quarter of Fiscal Year 2021

On November 17, 2020 Medtronic plc (NYSE:MDT) reported that it will report financial results for its second quarter of fiscal year 2021 on Tuesday, November 24, 2020 (Press release, Medtronic, NOV 17, 2020, View Source [SID1234571291]). A news release will be issued at approximately 5:45 a.m. Central Standard Time (CST) and will be available at View Source The news release will include summary financial information for the company’s second quarter of fiscal year 2021, which ended on Friday, October 30, 2020.

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Medtronic will host a webcast at 7:00 a.m. CST to discuss financial results for its second quarter of fiscal year 2021. The webcast can be accessed at View Source on November 24, 2020.

Within 24 hours of the webcast, a replay and transcript of the prepared remarks will be available by clicking on the Investor Events link at View Source.

Looking ahead, Medtronic plans to report its fiscal year 2021 third and fourth quarter results on Tuesday, February 23, 2021, and Thursday, May 27, 2021, respectively. For these events, confirmation and additional details will be provided closer to the specific event.

Dynavax to Present at the 3rd Annual Evercore Virtual ISI HealthCONx Conference

On November 17, 2020 Dynavax Technologies Corporation (NASDAQ: DVAX), a biopharmaceutical company focused on developing and commercializing novel vaccines, reported that Ryan Spencer, Chief Executive Officer, will participate in a virtual fireside chat at the 3rd Annual Evercore virtual ISI HealthCONx Conference on Thursday, December 3, at 10:05 a. m. E.T (Press release, Dynavax Technologies, NOV 17, 2020, https://www.prnewswire.com/news-releases/dynavax-to-present-at-the-3rd-annual-evercore-virtual-isi-healthconx-conference-301175311.html [SID1234571290]).

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The live audio webcast may be accessed through the "Events & Presentations" page on the "Investors" section of the Company’s website at www.dynavax.com. A replay of the webcast will be available for 30 days following the live event.

Kazia Presents Further Paxalisib Data At Sno, Confirming Earlier Positive Safety And Efficacy Signals In Glioblastoma

On November 17, 2020 Kazia Therapeutics Limited (ASX: KZA;NASDAQ: KZIA), an Australian oncology-focused biotechnology company, reported to share a summary of new paxalisib data presented at the Society for Neuro-Oncology (SNO) Annual Meeting, which is being held virtually from 19-21 November 2020 (Press release, Kazia Therapeutics, NOV 17, 2020, View Source [SID1234571289]).

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Key Points

New interim analysis of paxalisib phase II study in glioblastoma (NCT03522298) is highly consistent with prior data
Median progression-free survival (PFS) of 8.4 months reported on this analysis (versus 5.3 months for temozolomide, the existing standard of care)
Median overall survival (OS) of 17.5 months reported (versus 12.7 months for temozolomide)
First substantial presentation of safety data at a 60mg dose shows profile very similar to prior experience, with the most common toxicities including rash, stomatitis (mouth ulcers), and hyperglycemia (high blood sugar), consistent with other PI3K and mTOR inhibitors
Phase I study in DIPG (NCT03696355) shows paediatric maximum tolerated dose (MTD) of 27 mg/m2, with safety profile and pharmacokinetics similar to adult data
Kazia CEO, Dr James Garner, commented, "this is very reassuring data from the glioblastoma study, confirming our earlier results with the data now much more mature. In studies such as this, volatility is the enemy of dependability. From the very first efficacy data we reported from this study, in November 2019, through the ASCO (Free ASCO Whitepaper) and AACR (Free AACR Whitepaper) presentations in June 2020, to today’s latest analysis, the PFS and OS figures have remained extremely stable as the study has progressed. This gives us a great deal of confidence that what we are seeing is representative and reliable."

He added, "we expect this study to conclude in the first half of calendar 2021, but it has already provided useful information to guide the development of paxalisib. We have moved into the operational phase of the GBM AGILE pivotal study, and we expect that study to now be the primary focus of our work in glioblastoma from this point forward."

The poster presentation is available for download via the Kazia website at:-

View Source

Summary of Paxalisib Data in Comparison to Temozolomide (existing standard of care)

Temozolomide[1]
(FDA-approved treatment)

Paxalisib

(interim phase II data)

Progression-Free Survival (PFS)

5.3 months

8.4 months

Overall Survival (OS)

12.7 months

17.5 months

Professor Patrick Wen, the first author on the poster, commented "as this study has matured, we have seen encouraging results that are very stable over successive analyses, and very consistent with prior clinical experience in this drug. Paxalisib is now moving into the GBM AGILE study in glioblastoma, and we expect this to provide definitive data regarding the drug’s potential use in this disease and, if successful, a basis for regulatory approval. There remains a profound need for new treatments in glioblastoma, and paxalisib has proven to be an exciting potential candidate."

Initial Data from St Jude Study of Paxalisib in DIPG and Diffuse Midline Gliomas

Dr Christopher Tinkle, lead investigator for the SJPI3K study of paxalisib in DIPG and diffuse midline glioma (NCT03696355), gave an invited oral presentation on interim results from that study.

The SJPI3K study is a first-in-paediatric study, designed to establish the safety and pharmacokinetics of paxalisib in children, and to explore potential early signals of efficacy in this patient population.

The study recruited 27 patients, ranging from 3 to 16 years of age. Four patients discontinued participation prior to receiving a first dose of paxalisib, generally due to disease progression. At the time of analysis, five patients remain on paxalisib treatment, and several patients remain in post-treatment follow-up.

The paediatric maximum tolerated dose (MTD) was determined to be 27 mg/m2. The dose-limiting toxicities (DLTs) included hyperglycaemia, oral mucositis, and rash, which are entirely consistent with the adult experience.

The pharmacokinetics of the drug, a term which describes the concentration of the drug in plasma over time, was very consistent with the adult experience. The study found no meaningful difference between administration of intact capsules and administration via opening of capsules and sprinkling of contents onto a food carrier.

The study has not at this stage shown a clear survival benefit for paxalisib in comparison to historical controls. In terms of PFS, the proportion of patients alive and progression-free at six months (PFS6) was 96%, which compares favourably to an historical control of 58%[2]. However, the authors note that PFS can be a complex endpoint to interpret in DIPG trials due to the confounding effect of incidental radiological changes associated with radiation therapy.

Dr Tinkle commented, "my colleagues and I are very pleased with the outcome of this study. We have determined an appropriate dose for future paediatric work, established an acceptable tolerability profile in children, and demonstrated pharmacokinetic equivalence between intact capsule and open and sprinkled administration, which are critical steps in the development of any new drug for paediatric cancer."

He added, "DIPG is an extremely treatment-resistant disease, and no drug has ever shown convincing efficacy as a monotherapy. Our view has always been that the treatment of this disease will consist in combination therapy, and we have shown that paxalisib is eminently suitable to now be evaluated alongside other agents. We look forward to discussing follow-on work that will explore these opportunities and further investigate paxalisib’s potential."

Dr Garner commented, "we are grateful to have had the opportunity to collaborate with one of the world’s leading paediatric oncology hospitals in this study. The results provide an excellent foundation for the further development of paxalisib in DIPG, and we will be excited to discuss the next phase of work with our collaborators in coming months."

Next Steps

The paxalisib phase II study remains ongoing, with final data expected in 1H CY2021. The paxalisib arm of the GBM AGILE study has moved into an operational phase, and first patient in is expected early in 1Q CY2021.

The St Jude study in DIPG remains ongoing, with final data expected during 1H CY2021.

Investor Conference Call

Kazia is pleased to invite investors to attend a conference call to discuss the results further.

The call will be held on Thursday 19 November 2020 at 12:00pm, Sydney time (AEDT), which is 5pm on Wednesday 18 November 2020 in San Francisco (PST) and 8pm on Wednesday 18 November 2020 in New York (EST).

Participants will need to pre-register for the call via the following link:

View Source

Click the ‘Register Now’ button and follow the prompts to complete pre-registration. You will then receive a calendar invite with dial in numbers, a passcode and a PIN to dial into the conference call.