On November 16, 2020 Ribon Therapeutics, a clinical stage oncology company developing first-in-class therapeutics targeting stress response pathways, reported that Victoria Richon, Ph.D., President and Chief Executive Officer, will present a corporate overview at the Piper Sandler 32nd Annual Virtual Healthcare Conference being held November 30 – December 3, 2020 (Press release, Ribon Therapeutics, NOV 16, 2020, View Source [SID1234571108]).

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On November 16, 2020 Avvinity Therapeutics Limited ("Avvinity"), an immuno-oncology company developing Alphamer immunotherapies for solid and haematological cancers, reported the appointments of Nick Staples as interim CEO and Jon Moore as Non-Executive Director (Press release, Avvinity Therapeutics, NOV 16, 2020, View Source [SID1234571107]).

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Avvinity’s proprietary Alphamer immunotherapy platform harnesses a novel and powerful immune adaptation found in certain primates (including humans) to selectively kill cancer cells. Having recently attracted early stage funding from LifeArc and the UK Government’s Future Fund, the company is set to deliver key in vivo studies for its novel EGFR targeted Alphamer program, ahead of a planned Series A fundraise in 2021.

As interim CEO, Dr Nick Staples brings strong biotech leadership experience gained over 20 years in private and public life science companies and the capital markets. Nick has a proven track record in all aspects of corporate development, having raised over £150 million in private and public fundraises to date and successfully completed a number of M&A and partnering transactions, start-ups and joint ventures.

Previously, Nick was CEO at Locate Bio where he was responsible for leading a new cell and gene therapy strategy. He also served as CBO at Artios Pharma, a leading DDR oncology company which he helped establish as a venture backed spin out from CRUK, and CBO at TopiVert Pharma, a clinical stage biotech company. Earlier in his career, Nick held senior corporate and business development roles at Vectura plc, SSL International plc and Protherics plc.

Nick Staples, interim CEO said: "I am excited to be joining Avvinity at this crucial time, with forthcoming in vivo results enabling a Series A fundraise in 2021 to progress its lead program to the clinic".

Dr Jon Moore was a co-founder of Avvinity Therapeutics and he has been with the company since its foundation. Jon is currently an Operating Partner at Advent Life Sciences, having previously served as CSO of Horizon Discovery plc and as Head of Biology at Vernalis plc.

Jon Moore, Non-Executive Director said: "Having been part of the Avvinity journey since its inception, I am tremendously excited at the prospect of using Alphamers as novel immunotherapeutics to treat cancers, and also potentially in other diseases in conjunction with partners."

Nick Higgins, Chairman said: "I am delighted that Nick has joined Avvinity as its interim CEO and similarly that Jon will be continuing to support the company as a non-executive director. The company has made tremendous progress over the last 18 months and we are looking forward to receiving key in vivo data for our novel EGFR-targeted Alphamer immunotherapy in the coming months."

On November 16, 2020 Syros Pharmaceuticals (NASDAQ:SYRS), a leader in the development of medicines that control the expression of genes, reported that its Chief Executive Officer, Nancy Simonian, M.D., will participate in a pre-recorded fireside chat as part of the Piper Sandler 32nd Annual Virtual Healthcare Conference. Management will also be available for one-on-one meetings on Tuesday, December 1, 2020 (Press release, Syros Pharmaceuticals, NOV 16, 2020, View Source [SID1234571106]).

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The fireside chat will be available for on-demand viewing on the Investors & Media Section of the Syros website, www.syros.com, beginning Monday, November 23, 2020 at 10:00 a.m. ET and will remain available for approximately 30 days.

On November 16, 2020 RAPT Therapeutics, Inc. (Nasdaq: RAPT), a clinical-stage, immunology-based biopharmaceutical company focused on discovering, developing and commercializing oral small molecule therapies for patients with significant unmet needs in oncology and inflammatory diseases, reported financial results for the third quarter ended September 30, 2020 and provided an update on recent operational and business progress (Press release, RAPT Therapeutics, NOV 16, 2020, View Source [SID1234571104]).

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"Earlier today, we reported positive initial data from our ongoing Phase 1/2 clinical trial evaluating FLX475 in multiple cancer indications," said Brian Wong, M.D., Ph.D., President and CEO of RAPT Therapeutics. "With the advancement of this program and continued enrollment for our ongoing Phase 1b study of RPT193 in atopic dermatitis, which we now expect to read out in the first half of 2021, we are well positioned for multiple catalysts in 2021."

Financial Results for the Third Quarter and Nine Months Ended September 30, 2020

Third Quarter Ended September 30, 2020

Net loss for the third quarter of 2020 was $14.6 million, compared to $10.0 million for the third quarter of 2019.

Research and development expenses for the third quarter of 2020 were $12.9 million, compared to $8.6 million for the same period in 2019 due to increased clinical costs for FLX475 and RPT193, increased personnel costs and stock-based compensation expense, an increase in preclinical program costs and laboratory supplies.

General and administrative expenses for the third quarter of 2020 were $3.2 million, compared to $1.7 million for the same period of 2019. The increase was primarily due to an increase in stock-based compensation expense, personnel costs, legal and accounting fees and insurance expense offset by a decrease in consulting costs.

Nine Months Ended September 30, 2020

Net loss for the nine months ended September 30, 2020 was $40.2 million, compared to $29.8 million for the same period in 2019.

Research and development expenses for the nine months ended September 30, 2020 were $34.6 million, compared to $24.7 million for the same period in 2019. The increase was primarily due to an increase in clinical costs relating to FLX475 and RPT193, increased preclinical program costs as well as increased stock-based compensation and personnel expenses, offset by decreases in lab supplies and travel costs.

General and administrative expenses for the nine months ended September 30, 2020 were $9.3 million, compared to $6.1 million for the same period of 2019. The increase in general and administrative expenses was primarily due to increased stock-based compensation expense, increased personnel costs, an increase in legal and accounting fees as well as insurance expense offset by a decrease in travel and consulting costs.

As of September 30, 2020, we had cash and cash equivalents and marketable securities of $122.8 million.

On November 16, 2020 RAPT Therapeutics, Inc. (Nasdaq: RAPT), a clinical-stage, immunology-based biopharmaceutical company focused on discovering, developing and commercializing oral small molecule therapies for patients with significant unmet needs in oncology and inflammatory diseases, reported financial results for the third quarter ended September 30, 2020 and provided an update on recent operational and business progress (Press release, RAPT Therapeutics, NOV 16, 2020, View Source [SID1234571104]).

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Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

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"Earlier today, we reported positive initial data from our ongoing Phase 1/2 clinical trial evaluating FLX475 in multiple cancer indications," said Brian Wong, M.D., Ph.D., President and CEO of RAPT Therapeutics. "With the advancement of this program and continued enrollment for our ongoing Phase 1b study of RPT193 in atopic dermatitis, which we now expect to read out in the first half of 2021, we are well positioned for multiple catalysts in 2021."

Financial Results for the Third Quarter and Nine Months Ended September 30, 2020

Third Quarter Ended September 30, 2020

Net loss for the third quarter of 2020 was $14.6 million, compared to $10.0 million for the third quarter of 2019.

Research and development expenses for the third quarter of 2020 were $12.9 million, compared to $8.6 million for the same period in 2019 due to increased clinical costs for FLX475 and RPT193, increased personnel costs and stock-based compensation expense, an increase in preclinical program costs and laboratory supplies.

General and administrative expenses for the third quarter of 2020 were $3.2 million, compared to $1.7 million for the same period of 2019. The increase was primarily due to an increase in stock-based compensation expense, personnel costs, legal and accounting fees and insurance expense offset by a decrease in consulting costs.

Nine Months Ended September 30, 2020

Net loss for the nine months ended September 30, 2020 was $40.2 million, compared to $29.8 million for the same period in 2019.

Research and development expenses for the nine months ended September 30, 2020 were $34.6 million, compared to $24.7 million for the same period in 2019. The increase was primarily due to an increase in clinical costs relating to FLX475 and RPT193, increased preclinical program costs as well as increased stock-based compensation and personnel expenses, offset by decreases in lab supplies and travel costs.

General and administrative expenses for the nine months ended September 30, 2020 were $9.3 million, compared to $6.1 million for the same period of 2019. The increase in general and administrative expenses was primarily due to increased stock-based compensation expense, increased personnel costs, an increase in legal and accounting fees as well as insurance expense offset by a decrease in travel and consulting costs.

As of September 30, 2020, we had cash and cash equivalents and marketable securities of $122.8 million.