Avid Bioservices Declares Quarterly Dividend on Its Series E Convertible Preferred Stock

On December 1, 2020 Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated biologics contract development and manufacturing organization (CDMO) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, reported that its Board of Directors has declared a quarterly cash dividend payment on the Company’s 10.50% Series E Convertible Preferred Stock (the "Series E Preferred Stock") (Press release, Avid Bioservices, DEC 1, 2020, View Source [SID1234572028]).

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The quarterly dividend on the Series E Preferred Stock is payable on January 4, 2021 to holders of record at the close of business on December 14, 2020.

The quarterly dividend payment on the Series E Preferred Stock will be $0.65625 per share, which is equivalent to an annualized 10.50% per share, based on the $25.00 per share stated liquidation preference, accruing from October 1, 2020 through December 31, 2020. The Series E Preferred Stock is listed on the NASDAQ Capital Market and trades under the ticker symbol "CDMOP".

FDA Approves First PSMA-Targeted PET Imaging Drug for Men with Prostate Cancer

On December 1, 2020 The U.S. Food and Drug Administration approved Gallium 68 PSMA-11 (Ga 68 PSMA-11) – the first drug for positron emission tomography (PET) imaging of prostate-specific membrane antigen (PSMA) positive lesions in men with prostate cancer (Press release, US FDA, DEC 1, 2020, View Source [SID1234572026]).

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Ga 68 PSMA-11 is indicated for patients with suspected prostate cancer metastasis (when cancer cells spread from the place where they first formed to another part of the body) who are potentially curable by surgery or radiation therapy. Ga 68 PSMA-11 is also indicated for patients with suspected prostate cancer recurrence based on elevated serum prostate-specific antigen (PSA) levels. Ga 68 PSMA-11 is a radioactive diagnostic agent that is administered in the form of an intravenous injection.

"Ga 68 PSMA-11 is an important tool that can aid health care providers in assessing prostate cancer," said Alex Gorovets, M.D., acting deputy director of the Office of Specialty Medicine in FDA’s Center for Drug Evaluation and Research. "With this first approval of a PSMA-targeted PET imaging drug for men with prostate cancer, providers now have a new imaging approach to detect whether or not the cancer has spread to other parts of the body."

Prostate cancer is the third most common form of cancer in the United States. It is estimated that there will be more than 190,000 new cases of prostate cancer and an estimated 33,000 deaths from this disease in 2020, according to the National Cancer Institute. While computed tomography (CT) scans, magnetic resonance imaging (MRI) scans and bone scans are conventional methods commonly used to image patients with prostate cancer, these approaches are limited in detection of prostate cancer lesions. F 18 fluciclovine and C 11 choline are two other PET drugs that are approved for prostate cancer imaging. However, they are only approved for use in patients with suspected cancer recurrence.

Once administered via injection, Ga 68 PSMA-11 binds to PSMA, which is an important pharmacologic target for prostate cancer imaging because prostate cancer cells usually contain elevated levels of the antigen. As a radioactive drug that emits positrons, Ga 68 PSMA-11 can be imaged by PET to indicate the presence of PSMA-positive prostate cancer lesions in the tissues of the body.

The safety and efficacy of Ga 68 PSMA-11 were evaluated in two prospective clinical trials with a total of 960 men with prostate cancer who each received one injection of Ga 68 PSMA-11. In the first trial, 325 patients with biopsy-proven prostate cancer underwent PET/CT or PET/MRI scans performed with Ga 68 PSMA-11. These patients were candidates for surgical removal of the prostate gland and pelvic lymph nodes and were considered at higher risk for metastasis. Among the patients who proceeded to surgery, those with positive readings in the pelvic lymph nodes on Ga 68 PSMA-11 PET had a clinically important rate of metastatic cancer confirmed by surgical pathology. The availability of this information prior to treatment is expected to have important implications for patient care. For example, it may spare certain patients from undergoing unnecessary surgery.

The second trial enrolled 635 patients who had rising serum PSA levels after initial prostate surgery or radiotherapy, and thus had biochemical evidence of recurrent prostate cancer. All of these patients received a single Ga 68 PSMA-11 PET/CT scan or PET/MR scan. Based on the scans, 74% of these patients had at least one positive lesion detected by Ga 68 PSMA-11 PET in at least one body region (bone, prostate bed, pelvic lymph node, or extra-pelvic soft tissue). In patients with positive Ga 68 PSMA-11 PET readings who had correlative tissue pathology from biopsies, results from baseline or follow-up imaging by conventional methods, and serial PSA levels available for comparison, local recurrence or metastasis of prostate cancer was confirmed in an estimated 91% of cases. Thus, the second trial demonstrated that Ga 68 PSMA-11 PET can detect sites of disease in patients with biochemical evidence of recurrent prostate cancer, thereby providing important information that may impact the approach to therapy.

No serious adverse reactions were attributed to Ga 68 PSMA-11. The most common adverse reactions to Ga 68 PSMA-11 were nausea, diarrhea and dizziness. There is a risk for misdiagnosis because Ga 68 PSMA-11 binding may occur in other types of cancer as well as certain non-malignant processes which may lead to image interpretation errors. There are radiation risks because Ga 68 PSMA-11 contributes to a patient’s overall long-term cumulative radiation exposure, which is associated with an increased risk for cancer.

The FDA granted approval to the University of California, Los Angeles and the University of California, San Francisco.

The FDA, an agency within the U.S. Department of Health and Human Services, protects the public health by assuring the safety, effectiveness, and security of human and veterinary drugs, vaccines and other biological products for human use, and medical devices. The agency also is responsible for the safety and security of our nation’s food supply, cosmetics, dietary supplements, products that give off electronic radiation, and for regulating tobacco products.

Sun BioPharma, Inc. Changes Name to Panbela Therapeutics Inc.

On December 1, 2020 Sun BioPharma, Inc. (Nasdaq: SNBP), a clinical stage biopharmaceutical company developing disruptive therapeutics for the treatment of patients with cancer, reported the change of its corporate name to Panbela Therapeutics, Inc. effective December 2, 2020 (Press release, Sun BioPharma, DEC 1, 2020, View Source [SID1234572025]). The Company’s trading symbol will also change from SNBP to PBLA at the opening of the markets on December 2, 2020. As a result of the change, the CUSIP number for the company’s common stock will also change to 69833Q100. Stockholders are not required to exchange their existing share certificates or warrants for new certificates or warrants bearing the new name. The name change does not affect the company’s capital structure or the rights of the company’s stockholders, and no action is required by existing stockholders.

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About SBP-101

SBP-101 is a proprietary polyamine analogue designed to induce polyamine metabolic inhibition (PMI) by exploiting an observed high affinity of the compound for pancreatic ductal adenocarcinoma. The molecule has shown signals of tumor growth inhibition in clinical studies of US and Australian metastatic pancreatic cancer patients, suggesting complementary activity with an existing FDA-approved chemotherapy regimen. In clinical studies to date, SBP-101 has not shown exacerbation of the typical chemotherapy-related adverse events of bone marrow suppression and peripheral neuropathy. The safety data and PMI profile observed in the company’s current clinical trial provides support for continued evaluation of the compound in a randomized clinical trial. For more information, please visit View Source .

PierianDx Announces Expanded Partnership with Illumina to Support Cancer Genomic Reporting in Global Markets

On December 1, 2020 PierianDx, the leading clinical genomics informatics company, reported an expanded partnership with Illumina to enable PierianDx genomic reporting solutions for use with AmpliSeqTM for Illumina Focus Panel, AmpliSeqTM for Illumina Myeloid Panel and the TruSight Hereditary Cancer Panel (Press release, PierianDx, DEC 1, 2020, View Source [SID1234572024]). Adding these panels expands the existing relationship between Illumina and PierianDx, which currently covers use of the PierianDx platform to support genomic reporting in key global markets for the TruSight Oncology 500 portfolio.

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Performing a comprehensive NGS test and delivering an accompanying genomic report were once only accomplished via a send-out test to a commercial lab. However, in performing tests as send-outs, healthcare organizations relinquish control over samples, turnaround time, and quality. The PierianDx platform enables healthcare organizations to accelerate their precision medicine programs by empowering them to create accurate, timely, and comprehensive clinical genomic reports in-house.

Illumina’s Senior Vice President and Chief Medical Officer, Dr. Phil Febbo said: "PierianDx has demonstrated its commitment to best-in-class variant reporting solutions. We are excited to expand our partnership to cover the AmpliSeqTM suite of panels which are optimized for clinical cancer research."

PierianDx develops Clinical Genomics Workspace, which consists of intuitive software and a robust clinical Knowledgebase which transforms unstructured variant information into a highly-structured and usable clinical genomic report. In use by academic medical centers, cancer centers, reference laboratories, and healthcare organizations worldwide, it helps users accurately and rapidly classify and interpret variants to produce a physician-ready report.

Lincoln Nadauld, Vice President and Chief of Precision Medicine and Genomics, Intermountain Healthcare explains, "Our partnership with PierianDx has enabled us to advance our precision medicine program by enhancing the classification of variants, accelerating the identification of targeted therapies, and expanding clinical trial opportunities for our patients."

ITI’s CEO to Present at the 2nd Annual Glioblastoma Drug Development Summit

On December 1, 2020 Immunomic Therapeutics, Inc. (ITI) reported that it will be presenting at the 2nd Annual Glioblastoma Drug Development Virtual Summit (Press release, Immunomic Therapeutics, DEC 1, 2020, View Source [SID1234572023]). On Wednesday, December 9th, Chief Executive Officer at ITI, Dr. Bill Hearl, will be presenting a talk titled, "Adaptive T-cell Immunotherapy for Newly Diagnosed Glioblastoma: Using Targeted Antigen Presentation to Enhance Immune Responses." Dr. Hearl will discuss ITI’s investigational platform technology, the company’s lead program and its preliminary data in GBM, as well as the company’s future focus.

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Presentation details are as follows:

Title: Adaptive T-cell Immunotherapy for Newly Diagnosed Glioblastoma: Using Targeted Antigen Presentation to Enhance Immune Responses

Presentation Category: Vaccines

Date and Time: Wednesday, December 9, 2020 12:40 PM EST / 9:40 AM PDT

Location: Virtual Summit

About UNITE

ITI’s investigational UNITE platform, or UNiversal Intracellular Targeted Expression, works by fusing pathogenic antigens with the Lysosomal Associated Membrane Protein 1, an endogenous protein in humans, for immune processing. In this way, ITI’s vaccines (DNA or RNA) have the potential to utilize the body’s natural biochemistry to develop a broad immune response including antibody production, cytokine release and critical immunological memory. This approach puts UNITE technology at the crossroads of immunotherapies in a number of illnesses, including cancer, allergy and infectious diseases. UNITE is currently being employed in a Phase II clinical trial as a cancer immunotherapy. ITI is also collaborating with academic centers and biotechnology companies to study the use of UNITE in cancer types of high mortality, including cases where there are limited treatment options like glioblastoma and acute myeloid leukemia. ITI believes that these early clinical studies may provide a proof of concept for UNITE therapy in cancer, and if successful, set the stage for future studies, including combinations in these tumor types and others. Preclinical data is currently being developed to explore whether LAMP1 nucleic acid constructs may amplify and activate the immune response in highly immunogenic tumor types and be used to create immune responses to tumor types that otherwise do not provoke an immune response.