CASI Pharmaceuticals Announces Proposed Public Offering Of Common Stock

On March 23, 2021 CASI Pharmaceuticals, Inc. (Nasdaq: CASI), a U.S. biopharmaceutical company focused on developing and commercializing innovative therapeutics and pharmaceutical products, reported that it has commenced an underwritten public offering, subject to market and other conditions, to issue and sell shares of its common stock (Press release, CASI Pharmaceuticals, MAR 23, 2021, View Source [SID1234577055]). In connection with the offering, CASI expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock offered in the public offering. There can be no assurances as to whether or when the offering may be completed, or as to the actual size or terms of the offering. All of the shares of common stock in the offering will be sold by CASI.

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Oppenheimer & Co. Inc., Mizuho Securities USA LLC, and BTIG LLC are acting as joint book-running managers for the offering.

CASI intends to use the net proceeds of the offering for working capital and general corporate purposes, which include, but are not limited to advancing CASI’s product portfolio, acquiring the rights to new product candidates and general and administrative expenses.

The securities described above are being offered by CASI pursuant to a shelf registration statement on Form S-3, including a base prospectus, that was filed on November 20, 2020 and declared effective by the U.S. Securities and Exchange Commission ("SEC") on December 2, 2020. The offering is being made only by means of a written prospectus and prospectus supplement that form a part of the registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC’s website located at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering, when available, may also be obtained from Oppenheimer & Co. Inc., Attention: Syndicate Prospectus Department, 85 Broad Street, 26th Floor, New York, NY, 10004, by telephone at (212) 667-8055, or by email at [email protected]; or Mizuho Securities USA LLC, Attention: Equity Capital Markets, 1271 Avenue of the Americas, 3rd Floor, New York, NY, 10020; by phone at (212) 205-7600; or by email at [email protected].

Before investing in the offering, you should read in their entirety the preliminary prospectus supplement and the accompanying prospectus and the other documents that CASI has filed with the SEC that are incorporated by reference in the preliminary prospectus supplement and the accompanying prospectus, which provide more information about CASI and the offering.

This press release does not constitute an offer to sell or a solicitation of an offer to buy, nor will there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

AVEO Announces Pricing of $48.0 Million Public Offering of Common Stock

On March 23, 2021 AVEO Oncology (Nasdaq: AVEO) reported that it has priced its previously announced underwritten public offering of 6,000,000 shares of its common stock at a price to the public of $8.00 per share (Press release, AVEO, MAR 23, 2021, View Source [SID1234577053]). The gross proceeds to AVEO from the offering are expected to be $48.0 million before deducting underwriting discounts and commissions and offering expenses. All of the shares in the offering are being sold by AVEO. AVEO has also granted the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock on the same terms and conditions. Closing of the offering is expected to occur on or about March 26, 2021, subject to satisfaction of customary closing conditions.

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The net proceeds of the offering are expected to be used for working capital and general corporate purposes, including to support commercialization activities relating to FOTIVDA (tivozanib) and to advance AVEO’s pipeline.

SVB Leerink and Stifel are acting as joint bookrunning managers for the offering. Baird is acting as lead manager for the offering. H.C. Wainwright & Co. and JonesTrading are acting as co-managers for the offering.

The shares are being offered by AVEO pursuant to a shelf registration statement on Form S-3 that was filed with the Securities and Exchange Commission ("SEC") on November 9, 2020 and declared effective by the SEC on November 18, 2020. A preliminary prospectus supplement relating to, and describing the terms of, the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov.

Copies of the final prospectus supplement and the accompanying prospectus relating to this offering, when available, can be obtained from SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525, ext. 6105 or by email at [email protected]; or Stifel, Nicolaus & Company, Incorporated, Attention: Syndicate, One Montgomery Street, Suite 3700, San Francisco, CA 94104, by telephone at (415) 364-2720 or by email at [email protected].

This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Vycellix to Present at Upcoming Life Science Conferences

On March 23, 2021 Vycellix, Inc., an immuno-centric discovery life science company with a focus on natural killer cell-based (NK cell) therapeutics, reported that members of its executive leadership team are scheduled to present and moderate panel sessions at the following upcoming life science conferences this week (Press release, Vycellix, MAR 23, 2021, View Source [SID1234577052]):

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INNATE KILLER SUMMIT 2021 (requires paid registration):

MOFFITT CANCER CENTER’S BUSINESS OF BIOTECH CONFERENCE (free registration):

Vycellix’s proprietary platform technologies confer optimized competitive benefits covering: 1) the engineering of allogeneic cells without the need for gene-editing or requiring lymphodepletion of the patient (VY-UC); 2) cell expansion (VY-M); 3) cell potency (VY-X); 4) gene delivery/transduction (VY-OZ). The Company is leveraging these collective assets to develop next-generation, cell-based immunotherapies for the treatment of cancers and other indications with active commercial partnering activities ongoing.

Vycellix’s platforms were all discovered by scientists at the world-renowned Karolinska Institutet (KI) in Stockholm, Sweden. The Company is a collaborative partner in "NextGenNK", an international Competence Center for the development of next-generation NK cell-based cancer immunotherapies based at KI and funded by Sweden’s innovations agency, Vinnova. KI is globally recognized for its Nobel Assembly, which awards the Nobel Prize in Physiology or Medicine.

Molecular Targeting Technologies, Inc. Says New Radiotherapeutic is Effective and Less Toxic for Neuroendocrine Tumor Patients

On March 23, 2021 Molecular Targeting Technologies, Inc. (MTTI) reported an article entitled "Peptide Receptor Radionuclide Therapy (PRRT) of Late-Stage Neuroendocrine Tumor (NETs) Patients with Multiple Cycles of 177Lu-DOTA-EB-TATE" just published in the March issue* of The Journal of Nuclear Medicine (Press release, Molecular Targeting Technologies, MAR 23, 2021, View Source [SID1234577051]).

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PRRT drugs bind tightly to unique targets on tumor cells, in this case somatostatin receptors, delivering a cancer killing radioactive lutetium to the site. MTTI’s new 177Lu-DOTA-EB-TATE (EBTATE) therapeutic holds promise to reduce mortality among NET patients and significantly cut costs of extended treatment.

NETs are a diverse group of tumors originating in the neuroendocrine system that regulate hormones throughout the body. NET incidence increased 7-fold from 1973 to 2018. Because they are rare, varied, and slow growing, an NET diagnosis can be delayed up to seven years. As a result, more than 50 percent of NET cases are at an advanced stage at the time of diagnosis.

Study participants were divided into three groups. Each group was given a different dose of EBTATE. All the groups tolerated the therapy well, with almost no side effects regardless of the dose. Ultimately, researchers found that an EBTATE dose of 1.89 GBq/cycle (GBq – gigabequerel measure of radioactivity) was the most effective for tumor control. They also noted that with careful patient selection and monitoring, a 3.97 GBq/cycle dose could achieve an even better response.

"EBTATE is found to be safe and more effective than the current standard of care," said Xiaoyuan (Shawn) Chen, PhD, Nasrat Muzayyin Chair professor at the National University of Singapore. "Overall, this new treatment provides an extended therapeutic window and improved treatment efficacy over Lutathera. EBTATE significantly impacts mortality and morbidity for neuroendocrine tumor patients."

"This is an exciting step change in NET management. Effective, potentially less toxic, lower doses of EBTATE hold huge promise for neuroendocrine tumor patients," said Chris Pak, President & CEO of MTTI.

*The authors of the article include Qingxing Liu … Zhaohui Zhu, and Xiaoyuan Chen. Journal of Nuclear Medicine 62: 386-392, March 2021.

Selexis and Tallac Therapeutics Collaborate to Advance Tallac’s Pipeline of Novel Immunotherapies in Oncology

On March 23, 2021 Selexis SA, a JSR Life Sciences company, and Tallac Therapeutics reported that they have signed both a commercial license agreement (CLA) and a service agreement (SA) to advance Tallac’s Toll-like Receptor Agonist Antibody Conjugate (TRAAC) platform, which harnesses the power of innate and adaptive immunity to treat cancer (Press release, Selexis
, MAR 23, 2021, View Source [SID1234577050]). Under the agreements, Tallac will employ Selexis’ proprietary SUREtechnology Platform to develop the research cell banks necessary to bring its immunotherapy candidates for the treatment of solid tumors to the clinic.

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"We are proud to work with Tallac Therapeutics as the company develops new medicines for cancer," said Yemi Onakunle, PhD, MBA, Selexis chief business officer. "Our work with Tallac will allow Selexis to play a role in the advancement of differentiated immunotherapies that are designed to overcome the resistance and lack of response seen in the majority of patients receiving currently available treatments."

Tallac Therapeutics is developing systemically delivered therapeutics with the potential to provide powerful innate and adaptive anti-tumor immunity. The Company’s TRAAC platform currently supports a pipeline of next-generation immunotherapies that have potential for monotherapy and combination approaches across multiple tumor indications.

"As we advance our pipeline of groundbreaking cancer immunotherapies, we chose Selexis as our cell line development partner because of their innovation and scientific expertise, and their proven commitment to the quality, speed, safety and reliability of the technology solutions they provide," said Dr. Hong I. Wan, Tallac Therapeutics president, CEO and co-founder.

Selexis’ modular SUREtechnology Platform facilitates the rapid, stable, and cost-effective production of recombinant proteins and vaccines, providing seamless integration of the development continuum from discovery to commercialization.