Regulus Therapeutics Announces Receipt of $5 Million Milestone and Material Payments from Sanofi

On October 13, 2020 Regulus Therapeutics Inc. (Nasdaq: RGLS) (the "Company" or "Regulus"), a biopharmaceutical company focused on the discovery and development of innovative medicines targeting microRNAs, reported receipt of a total of $5 million in milestone and material payments from Sanofi (Press release, Regulus, OCT 13, 2020, View Source [SID1234568404]). As outlined in the recent amendment to the Company’s term loan agreement with Oxford, LLC, the Company utilized the proceeds to pay down $5 million in principal outstanding, reducing the remaining principal due under the term loan to approximately $9.6 million.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

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

                  Schedule Your 30 min Free Demo!

In August 2020, the Company entered into an amendment with Sanofi concerning the receipt of potential milestones from Sanofi for its development of miR-21 programs. Under the terms of the amendment with Sanofi, the Company was eligible to receive $4 million upon the completion of transfer and verification of certain materials valued at an additional $1 million sold to Sanofi. In addition to this payment of $5 million received, the Company is eligible to receive an additional $5 million upon achievement of the interim enrollment milestone and $25 million upon the achievement of the development milestone.

Concurrently with this recent Sanofi amendment, the Company announced an amendment of its term loan agreement with Oxford, under which the Company is eligible for up to an additional seven months of interest only payments in the event the Company pays down an additional $5 million in loan principal before April 30, 2021. In the event the Company receives the additional interest only period, principal and accrued interest payments will commence on January 1, 2022.

Lantern Pharma applying AI to discover and develop cancer therapeutics

On October 13, 2020 Lantern Pharma (NASDAQ:LTRN) reported that it is using its RADR AI platform to identify abandoned drug candidates and develop new drugs that may prove effective in treating certain cancers (Press release, Lantern Pharma, OCT 13, 2020, View Source [SID1234568403]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

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

                  Schedule Your 30 min Free Demo!

"Our vision is to bring cancer therapies to market faster, and with reduced cost and risk, to ultimately improve patient outcomes," Panna Sharma, Lantern’s president and CEO, says in an interview with BioTuesdays.com. "We are employing a dual approach, developing both de novo biomarker-guided drug candidates and rescuing historical drug candidates by leveraging the datasets and machine learning algorithms in our RADR AI platform."

RADR was developed to predict drug responses and outcomes using interrelated biomarker and clinical data. The platform has curated and analyzed more than 500-million data points, including more than 140 cancer drug-tumor interactions. Mr. Sharma says that Lantern aims for RADR to become the largest AI-enabled oncology drug development platform. The company plans to capture more than one-billion data points by early 2021 and five-billion data points during 2022.

"The increasing availability of large-scale biomarker, genomic and patient data – and rapidly maturing technologies like AI and machine learning – means that the field of oncology is undergoing a monumental shift in the way cancer drugs are discovered, developed, studied, targeted, and commercialized. Lantern is at the forefront of this transformation," he contends.

The company’s pipeline, which was developed using RADR, consists of three oncology drugs that are being developed for four indications. Two of Lantern’s drug candidates are in Phase 2 of development, with the third currently in preclinical development. "Our three compounds are in active development and are aimed at therapeutic areas potentially worth several billion dollars in global sales, many of which do not have therapeutic options today."

Lantern’s first candidate, LP-100, or irofulven, is a DNA damaging agent originally developed at the University of California San Diego. The drug candidate was licensed to MGI Pharma, which was subsequently acquired by Eisai (TYO:4523), but its development was discontinued after endpoints in a Phase 3 trial for the treatment of metastatic pancreatic cancer did not exceed the survival benefits seen with the comparator agent, fluorouracil.

When Lantern acquired LP-100, it had been evaluated in more than 40 clinical trials across 13 different solid tumor types and demonstrated efficacy and strong anti-tumor benefit in subsets of patients.

"We acquired the small molecule with the goal of using biomarkers to predict which patients would best respond to the treatment," Mr. Sharma recalls, adding that early versions of RADR guided the development of an RNA-based genomic signature to determine patients’ response and sensitivity to LP-100.

In 2016, Lantern out-licensed LP-100 to Oncology Venture, which is now conducting a Phase 2 trial in patients with hormone refractory prostate cancer. Oncology Venture is using Lantern’s biomarker technology to identify and monitor patients, and expects to report data from the trial in 2021.

Lantern acquired its second drug candidate, LP-300, from BioNumerik Pharmaceuticals, in 2018. Also known as Dimesna, LP-300 is a chemosensitizer for use in combination therapies, with properties that reduce the toxicity associated with chemotherapy. LP-300 had been evaluated in five early- and five late-stage clinical trials for the treatment of lung and breast cancers.

Specifically, BioNumerik’s Phase 3 trial of LP-300, in combination with paclitaxel and cisplatin, did not meet clinical efficacy endpoints but demonstrated survival benefits in specific patient subgroups. Retrospective analyses showed that among 66 female non-smokers, those in the LP-300 study arm demonstrated a 125% relative two-year survival increase, compared with those who received only paclitaxel and cisplatin.

Lantern is using its RADR platform to develop a biomarker signature that can be used to predict which non-small cell lung cancer patients are most likely to respond to a combination therapy of taxanes, platin-based chemotherapy and LP-300. The company plans to initiate a Phase 2 clinical trial of LP-300 in the second half of 2021, in patients with non-small cell lung cancer, who have a history of no smoking, or have never smoked.

"The core RADR engine can generate a very robust biomarker or genomic signature that can eventually be used to both accelerate and guide preclinical development, and as a companion diagnostic to help enroll, stratify, and select patients that have the greatest potential to benefit from our therapy," Mr. Sharma points out.

Lantern’s third drug candidate, LP-184, is an acylfulvene-based compound with broad anti-tumor activity. LP-184 is currently in preclinical development for the treatment of genomically-defined solid tumors that can occur at any location in the body. Using RADR and cancer cell line gene expression profiles from the NCI-60 – a group of 60 human cancer cell lines used by the National Cancer Institute to screen compounds for potential anticancer activity – Lantern has derived a panel of 16 genetic biomarkers that are predictive of a response to LP-184.

In collaboration with Georgetown University, the company has done extensive wet-lab work in organoids, patient-derived xenograft models and genomically-edited cell lines where the signature continues to be refined across a range of solid tumors and CNS cancers. Lantern and Georgetown are entering the second phase of their ongoing development partnership, which will focus on a larger set of patient-derived xenograft models to further characterize LP-184’s mechanism of action, and on validating the role genetic biomarkers play in the drug candidate’s potency.

The company recently partnered with Philadelphia-based Fox Chase Cancer Center for the further development of LP-184 for the treatment of pancreatic cancer. The collaboration aims to create a more biologically relevant and robust gene signature in preparation for future clinical trials.

Lantern also is developing LP-184 for the treatment of glioblastoma multiforme, an aggressive form of brain cancer, as the compound has demonstrated high nanomolar potency in cell lines and an ability to penetrate the blood-brain-barrier. The company is currently conducting IND-enabling studies and plans to enter the clinic with LP-184 in late 2021 or early 2022.

"We are generating many meaningful and targeted insights using our RADR AI engine, in combination with targeted 3D and organoid studies, and are confident that we can accelerate the development efforts with certain abandoned or stalled compounds. Our goal is to add at least one additional oncology development program each year through a partnership, collaboration, or in-licensing agreement," he says.

OPKO Health to Report Third Quarter 2020 Financial Results on October 29, 2020

On October 13, 2020 OPKO Health, Inc. (NASDAQ: OPK) reported that operating and financial results for the three months ended September 30, 2020, as well as discuss financial guidance, after the close of the U.S. financial markets on Thursday, October 29, 2020 (Press release, Opko Health, OCT 13, 2020, View Source [SID1234568402]). OPKO’s senior management will provide a business update and discuss results in greater detail during a conference call and live audio webcast on October 29th beginning at 4:30 p.m. Eastern time.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

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

                  Schedule Your 30 min Free Demo!

CONFERENCE CALL & WEBCAST INFORMATION

OPKO encourages participants to pre-register for the conference call using the link here or dialing (888) 869-1189 or (706) 643-5902 and using conference ID 4542807. Upon registering, participants will receive dial-in numbers, an event passcode and a unique registrant ID to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the start of the call.

To access the live call via webcast, please click on the link OPKO 3Q20 Results Conference Call. Individual investors and investment community professionals who do not plan to ask a question during the call’s Q&A session are encouraged to listen to the call via the webcast.

For those unable to listen to the live conference call, a replay can be accessed for a period of time on OPKO’s website at OPKO 3Q20 Results Conference Call. A telephone replay will be available beginning approximately two hours after the close of the conference call. To access the replay, please dial (855) 859-2056 or (404) 537-3406, and use conference ID 4542807.

QIAGEN reports strong preliminary results for third quarter of 2020

On October 13, 2020 IAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) reported preliminary sales and adjusted earnings per share (EPS) results for the third quarter of 2020 (Press release, Qiagen, OCT 13, 2020, View Source [SID1234568401]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

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

                  Schedule Your 30 min Free Demo!

Net sales grew 26% at actual rates, and also rose 26% at constant exchange rates (CER), to $481.3 million from $382.7 million in the same period of 2019 – a higher rate than the outlook for the third quarter of 2020 for 16-21% CER sales growth announced on July 13, 2020.

The better-than-expected results reflect both ongoing significant demand for solutions used in COVID-19 testing, as well as significantly improved customer demand trends in other areas of the portfolio from the second quarter of 2020, with non-COVID 19 product sales declining at a mid-single-digit CER rate compared to the third quarter of 2019. Among specific products, sales of the QuantiFERON-TB test for tuberculosis detection declined 20% CER to about $53 million compared to a 46% CER year-over-year decline in the second quarter of 2020.
Preliminary adjusted EPS results for the third quarter of 2020 are for approximately $0.58 CER – a 61% increase from adjusted EPS of $0.36 in the third quarter of 2019 and at the high end of the outlook for about $0.52-0.58 CER, also as announced on July 13, 2020.

Based on exchange rates on September 30, 2020, QIAGEN expects currency movements against the U.S. dollar (reporting currency) to have a positive impact on results for the third quarter of 2020 of less than one percentage point on net sales at actual rates and less than $0.01 on adjusted EPS.
Full results for the third quarter and first nine months of 2020 remain scheduled for publication on November 4, 2020, and for a conference call to be held as planned on November 5, 2020.

MorphoSys AG Successfully Places EUR 325 Million Convertible Bonds

On October 13, 2020 MorphoSys AG (FSE: MOR; Prime Standard Segment; MDAX & TecDAX; NASDAQ: MOR) reported that successfully placed unsubordinated, unsecured convertible bonds due 2025 in an aggregate principal amount of EUR 325 million (Press release, MorphoSys, OCT 13, 2020, View Source [SID1234568400]). The bonds will be convertible into new and/or existing no-par value ordinary bearer shares of MorphoSys. The pre-emptive rights (Bezugsrechte) of existing shareholders of the Company to subscribe for the convertible bonds were excluded.

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

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

                  Schedule Your 30 min Free Demo!

Jean-Paul Kress, M.D., Chief Executive Officer, said: "We are pleased with the success of the convertible bond issuance enabling MorphoSys to achieve highly attractive terms: a low coupon combined with a significant conversion premium allowing to set the conversion price close to MorphoSys’ all-time share price high. The strong and high-quality demand achieved with this transaction, allowing us to optimize financing terms today, is a further testimony of investor support and belief in MorphoSys’ long-term growth prospects."

The convertible bonds with a denomination of EUR 100,000 each will be issued at 100% of their principal amount. Unless previously converted, redeemed or repurchased and cancelled, the convertible bonds will be redeemed at their principal amount on October 16, 2025. The convertible bonds were priced with a coupon of 0.625% per annum, payable semi-annually in arrear. The conversion price was set at EUR 131.29 representing a conversion premium of 40.0% above the reference share price of EUR 93.7766, being the volume-weighted average price (VWAP) of the shares on XETRA between launch and pricing.

The Company may redeem all, but not some only, of the convertible bonds outstanding at their principal amount plus accrued interest with effect on or after November 6, 2023 if the price of the Company’s share is equal to or exceeds 130% of the prevailing conversion price on each day within a certain period, or if less than 20% of the aggregate principal amount of the convertible bonds originally issued are outstanding.

The convertible bonds were offered by way of an accelerated bookbuilding process to institutional investors outside the United States of America and any other jurisdiction in which offers or sales of the convertible bonds would be prohibited by applicable law.

Settlement of the offering is expected to take place on or around October 16, 2020. The Company intends to arrange for the convertible bonds to be included to trading on the Open Market Segment (Freiverkehr) of the Frankfurt Stock Exchange shortly thereafter.

Use of Proceeds

The proceeds from the issue of the convertible bonds will be used for general corporate purposes, including proprietary development, inlicensing and/or M&A transactions.

Lock-up

The Company has agreed to a lock-up of 90 calendar days following the settlement of the offering, subject to customary exemptions.

Goldman Sachs International and J.P. Morgan acted as Joint Global Coordinators and Joint Bookrunners on the transaction.