Mirati Therapeutics Announces Pricing of Public Offering of Common Stock

On November 10, 2021 Mirati Therapeutics, Inc. (Nasdaq: MRTX), a clinical-stage targeted oncology company, reported the pricing of an underwritten public offering of 3,448,275 shares of its common stock at a price to the public of $145.00 per share (Press release, Mirati, NOV 10, 2021, View Source [SID1234595145]). The aggregate gross proceeds to Mirati from this offering are expected to be approximately $500.0 million, before deducting underwriting discounts and commissions and estimated offering expenses payable by Mirati. The offering is expected to close on or about November 15, 2021, subject to customary closing conditions. Mirati has also granted the underwriters a 30-day option to purchase up to an additional 517,241 shares of common stock in connection with the public offering.

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Mirati expects to use the net proceeds from this offering for preparing for the potential U.S. commercial launch of adagrasib in patients with KRAS G12C-mutated advanced non-small cell lung cancer, continued commercial development and manufacturing scale-up of adagrasib, on-going clinical development of adagrasib and sitravatinib, the preclinical and clinical development of MRTX1719 and MRTX1133, the development of other preclinical programs and the expansion of its organizational capabilities, and for working capital.

Goldman Sachs & Co. LLC, SVB Leerink LLC, and Cowen and Company, LLC are acting as book-running managers in the offering.

The shares of common stock described above are being offered pursuant to a shelf registration statement filed by Mirati with the Securities and Exchange Commission ("SEC") that became automatically effective upon filing. A preliminary prospectus supplement and accompanying prospectus relating to the offering were filed with the SEC and are available on the SEC’s website located at View Source Copies of the final prospectus supplement and the accompanying prospectus relating to the offering, when available, may be obtained from Goldman Sachs & Co. LLC, Attention: Prospectus Department, 200 West Street, New York, NY 10282, or by telephone at (866) 471-2526, or by email at [email protected]; or from SVB Leerink LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, by telephone at (800) 808-7525, ext. 6105, or by email at [email protected]; or from Cowen and Company, LLC, c/o Broadridge Financial Solutions, Attention: Prospectus Department, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (833) 297-2926, or by email at [email protected].

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

Lennham Pharmaceuticals Announces Discovery of Next Generation Testosterone Candidate

On November 10, 2021 Lennham Pharmaceuticals, a privately-held company focused on the creative use of deuterium chemistry to improve the metabolic and pharmacological profile of existing compounds, reported the discovery and patenting of its next generation testosterone candidate, d3-testosterone (Press release, Lennham Pharmaceuticals, NOV 10, 2021, View Source [SID1234595144]).

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The U.S. Patent and Trademark Office (USPTO) has issued a Notice of Allowance for broad patent claims covering the use of d3-testosterone. Once issued, the patent will expire in 2041.

The allowed claims cover a method of treating male hypogonadism with d3-testosterone. Lennham’s patent disclosure covers numerous additional applications for d3-testosterone, including as a treatment for breast cancer, female sexual disorders, and as a gender affirming hormone therapy.

In non-clinical studies, d3-testosterone strongly resisted metabolism to the estrogen estradiol when compared to testosterone. Lennham’s non-clinical studies also demonstrated that d3-testosterone has similar androgen receptor agonist activity as testosterone. Lennham intends to present or publish data concerning d3-testosterone at upcoming scientific forums.

"Testosterone has demonstrated significant clinical benefit in treating a variety of conditions including breast cancer, female sexual dysfunction, male hypogonadism, and as gender affirming hormone therapy, but its therapeutic use has been limited in part because of estrogen-related side effects," said Bradford C. Sippy, Founder and CEO of Lennham. "Based on our preclinical studies and the scientific literature, we believe that d3-testosterone, by addressing estrogen-related limitations, has the potential to unlock the full therapeutic utility of testosterone therapy and become a best-in-class hormone treatment."

About Testosterone

Testosterone is a naturally occurring hormone that is found in both men and women. Products containing testosterone and prodrugs of testosterone, such as testosterone undecanoate, have been approved for use by FDA to treat certain conditions such as male hypogonadism and delayed puberty.

Testosterone is metabolized in humans to estradiol, 5α-dihydrotestosterone (DHT), and other hormones. The conversion of testosterone to estradiol, the primary estrogen metabolized from testosterone and the most prevalent estrogen in humans, is linked to several side effects of testosterone therapies, such as gynecomastia. It is reported that 30% of men using a testosterone therapy also use an aromatase inhibitor or and selective estrogen receptor modulator, products indicated to treat breast cancer, to reduce or treat symptoms of hyperestrogenism.1

Testosterone has been identified as a potentially useful treatment in other diseases and conditions, such as breast cancer2 and female sexual disorders3, but concerns about estradiol-related side effects such as breast cancer have limited its therapeutic potential4,5,6.

About Deuterated Testosterone

Deuterium is a naturally occurring, stable isotope of hydrogen, with an additional neutron in its nucleus. Selectively substituting hydrogen with deuterium, or deuteration, is a way to alter a molecule’s metabolic profile while maintaining its core pharmacodynamic characteristics.

Deuteration strengthens the chemical bond between two elements. Depending on where deuterium is placed, it has the potential to alter the overall metabolism of a molecule, or to reduce conversion to specific, unwanted metabolites.

Deuteration has been successfully leveraged in several approved and/or late-stage pharmaceutical products.

In non-clinical studies, d3-testosterone was shown to be highly resistant to metabolism to estradiol, potentially resulting in improved safety and tolerability profile versus testosterone.

Lennham’s allowed patent claims cover a method of treating hypogonadism in a male subject by orally, parenterally, or transdermally administering to the subject a pharmaceutical composition comprising between 1 mg and 1,000 mg of d3-testosterone, or a related prodrug.

Everest Medicines and Gilead Sciences Jointly Announce Phase 2b Study of Sacituzumab Govitecan Conducted in China of Patients With Metastatic Triple-Negative Breast Cancer Meets Primary Overall Response Rate Endpoint

On November 10, 2021 Gilead Sciences, Inc. (Nasdaq: GILD) reported that the Everest Medicines (HKEX 1952.HK) sponsored Phase 2b EVER-132-001 study of sacituzumab govitecan (marketed as Trodelvy in the United States) met its primary endpoint of overall response rate (ORR) in metastatic triple-negative breast cancer (TNBC) (Press release, Everest Medicines, NOV 10, 2021, View Source [SID1234595143]).

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EVER-132-001 is a single-arm, multi-center Phase 2b registrational study evaluating sacituzumab govitecan in 80 patients enrolled in China for the treatment of adults with unresectable locally advanced or metastatic TNBC who have received two or more prior systemic therapies, at least one for metastatic disease. The results demonstrated an ORR of 38.8% (CI: 95%) as evaluated by an Independent Review Committee. The safety profile of sacituzumab govitecan was similar to that reported in prior studies, and no new safety signals were identified.

The primary endpoint measured ORR according to RECIST v1.1 by an Independent Review Committee. The results were consistent with results demonstrated in the global Phase 3 ASCENT study. Gilead and Everest Medicines are engaged in a joint partnership for the development and commercialization of sacituzumab govitecan in Asia.

In May 2020, the Center for Drug Evaluation (CDE) of the China National Medical Products Administration (NMPA) granted priority review to the Biologics License Application (BLA) for sacituzumab govitecan for adult patients with unresectable locally advanced or metastatic TNBC who have received two or more prior systemic therapies, at least one of them for metastatic disease.

"These topline results confirm that sacituzumab govitecan has the potential to help change the treatment outlook for people in China living with mTNBC," said Yang Shi, Chief Medical Officer for Oncology at Everest Medicines. "These data, along with the benefit seen in the global ASCENT study, support its potential as a novel treatment for patients who currently have extremely limited options."

Kerry Blanchard, MD, PhD, CEO of Everest Medicines added, "With the goal of delivering treatment to as many patients as quickly as possible, we are building the commercialization team for Trodelvy in preparation for product launch in China."

"These data from the clinical trial of sacituzumab govitecan in China are extremely encouraging," said Bill Grossman, MD, PhD, Senior Vice President, Oncology Clinical Research, Gilead Sciences. "We are confident in the potential of Trodelvy to help more women around the world."

The Trodelvy U.S. Prescribing Information has a BOXED WARNING for severe or life-threatening neutropenia and severe diarrhea; see below for Important Safety Information.

About Triple-Negative Breast Cancer (TNBC)

TNBC is the most aggressive type of breast cancer and accounts for approximately 15% of all breast cancers. TNBC is diagnosed more frequently in younger and premenopausal women and is more prevalent in Black and Hispanic women. TNBC cells do not have estrogen and progesterone receptors and have limited human epidermal growth factor receptor 2 (HER2). Due to the nature of TNBC, effective treatment options are extremely limited compared with other breast cancer types. TNBC has a higher chance of recurrence and metastases than other breast cancer types. The average time to metastatic recurrence for TNBC is approximately 2.6 years compared with 5 years for other breast cancers, and the relative five-year survival rate is much lower. Among women with metastatic TNBC, the five-year survival rate is 12%, compared with 28% for those with other types of metastatic breast cancer.

About Sacituzumab Govitecan

Sacituzumab govitecan (Trodelvy) is a first-in-class antibody and topoisomerase inhibitor conjugate directed to the Trop-2 receptor, a protein overexpressed in multiple types of epithelial tumors, including metastatic TNBC and metastatic urothelial cancer (UC), where high expression is associated with poor survival and relapse. Trodelvy is approved in second-line metastatic TNBC in multiple countries worldwide, including Australia, Canada, Great Britain, Switzerland and the United States based on data submitted from the Phase 3 ASCENT study. Review is also underway in the European Union and Singapore and China through our partner Everest Medicines. Trodelvy is also approved for use in metastatic UC in the United States and continues to be developed for potential use in other TNBC and metastatic UC populations. It is also being developed as an investigational treatment for hormone receptor-positive/human epidermal growth factor receptor 2-negative (HR+/HER2-) metastatic breast cancer and metastatic non-small cell lung cancer. Additional evaluation across multiple solid tumors is also underway.

Under a licensing agreement with Gilead Sciences, Inc., Everest Medicines has exclusive rights to develop, register, and commercialize sacituzumab govitecan for all cancer indications in Greater China, South Korea, and certain Southeast Asian countries. In October 2020, sacituzumab govitecan was included in the updated 2020 China Guidelines for the Standardized Diagnosis and Treatment of Advanced Breast Cancer, compiled by the Breast Cancer Expert Committee of the National Cancer Control Center, the Breast Cancer Professional Committee of the Chinese Anti-Cancer Association, and the Cancer Drug Clinical Research Professional Committee of the Chinese Anti-Cancer Association.

The Ministry of Food and Drug Safety (MFDS) in South Korea has granted Fast Track Designation and Orphan Drug Designation (ODD) to SG for the treatment of metastatic TNBC. In addition, Everest announced in January 2021 that it submitted a New Drug Application (NDA) to the Health Sciences Authority (HSA) of Singapore for SG for the treatment of patients with metastatic TNBC who have received two prior therapies, at least one for metastatic disease. That application is currently under review.

In the United States, Trodelvy is indicated for the treatment of:

Adult patients with unresectable locally advanced or metastatic TNBC who have received two or more prior systemic therapies, at least one of them for metastatic disease.
Adult patients with locally advanced or metastatic UC who have previously received a platinum-containing chemotherapy and either programmed death receptor-1 (PD-1) or programmed death-ligand 1 (PD-L1) inhibitor.
U.S. Important Safety Information for Trodelvy

BOXED WARNING: NEUTROPENIA AND DIARRHEA

Severe or life-threatening neutropenia may occur. Withhold Trodelvy for absolute neutrophil count below 1500/mm3 or neutropenic fever. Monitor blood cell counts periodically during treatment. Consider G-CSF for secondary prophylaxis. Initiate anti-infective treatment in patients with febrile neutropenia without delay.
Severe diarrhea may occur. Monitor patients with diarrhea and give fluid and electrolytes as needed. Administer atropine, if not contraindicated, for early diarrhea of any severity. At the onset of late diarrhea, evaluate for infectious causes and, if negative, promptly initiate loperamide. If severe diarrhea occurs, withhold Trodelvy until resolved to ≤Grade 1 and reduce subsequent doses.
CONTRAINDICATIONS

Severe hypersensitivity reaction to Trodelvy.
WARNINGS AND PRECAUTIONS

Neutropenia: Severe, life-threatening, or fatal neutropenia can occur and may require dose modification. Neutropenia occurred in 61% of patients treated with Trodelvy. Grade 3-4 neutropenia occurred in 47% of patients. Febrile neutropenia occurred in 7%. Withhold Trodelvy for absolute neutrophil count below 1500/mm3 on Day 1 of any cycle or neutrophil count below 1000/mm3 on Day 8 of any cycle. Withhold Trodelvy for neutropenic fever.

Diarrhea: Diarrhea occurred in 65% of all patients treated with Trodelvy. Grade 3-4 diarrhea occurred in 12% of patients. One patient had intestinal perforation following diarrhea. Neutropenic colitis occurred in 0.5% of patients. Withhold Trodelvy for Grade 3-4 diarrhea and resume when resolved to ≤Grade 1. At onset, evaluate for infectious causes and if negative, promptly initiate loperamide, 4 mg initially followed by 2 mg with every episode of diarrhea for a maximum of 16 mg daily. Discontinue loperamide 12 hours after diarrhea resolves. Additional supportive measures (e.g., fluid and electrolyte substitution) may also be employed as clinically indicated. Patients who exhibit an excessive cholinergic response to treatment can receive appropriate premedication (e.g., atropine) for subsequent treatments.

Hypersensitivity and Infusion-Related Reactions: Serious hypersensitivity reactions including life-threatening anaphylactic reactions have occurred with Trodelvy. Severe signs and symptoms included cardiac arrest, hypotension, wheezing, angioedema, swelling, pneumonitis, and skin reactions. Hypersensitivity reactions within 24 hours of dosing occurred in 37% of patients. Grade 3-4 hypersensitivity occurred in 2% of patients. The incidence of hypersensitivity reactions leading to permanent discontinuation of Trodelvy was 0.3%. The incidence of anaphylactic reactions was 0.3%. Pre-infusion medication is recommended. Observe patients closely for hypersensitivity and infusion-related reactions during each infusion and for at least 30 minutes after completion of each infusion. Medication to treat such reactions, as well as emergency equipment, should be available for immediate use. Permanently discontinue Trodelvy for Grade 4 infusion-related reactions.

Nausea and Vomiting: Nausea occurred in 66% of all patients treated with Trodelvy and Grade 3 nausea occurred in 4% of these patients. Vomiting occurred in 39% of patients and Grade 3-4 vomiting occurred in 3% of these patients. Premedicate with a two or three drug combination regimen (e.g., dexamethasone with either a 5-HT3 receptor antagonist or an NK1 receptor antagonist as well as other drugs as indicated) for prevention of chemotherapy-induced nausea and vomiting (CINV). Withhold Trodelvy doses for Grade 3 nausea or Grade 3-4 vomiting and resume with additional supportive measures when resolved to Grade ≤1. Additional antiemetics and other supportive measures may also be employed as clinically indicated. All patients should be given take-home medications with clear instructions for prevention and treatment of nausea and vomiting.

Increased Risk of Adverse Reactions in Patients with Reduced UGT1A1 Activity: Patients homozygous for the uridine diphosphate-glucuronosyl transferase 1A1 (UGT1A1)*28 allele are at increased risk for neutropenia, febrile neutropenia, and anemia and may be at increased risk for other adverse reactions with Trodelvy. The incidence of Grade 3-4 neutropenia was 67% in patients homozygous for the UGT1A1*28, 46% in patients heterozygous for the UGT1A1*28 allele and 46% in patients homozygous for the wild-type allele. The incidence of Grade 3-4 anemia was 25% in patients homozygous for the UGT1A1*28 allele, 10% in patients heterozygous for the UGT1A1*28 allele, and 11% in patients homozygous for the wild-type allele. Closely monitor patients with known reduced UGT1A1 activity for adverse reactions. Withhold or permanently discontinue Trodelvy based on clinical assessment of the onset, duration and severity of the observed adverse reactions in patients with evidence of acute early-onset or unusually severe adverse reactions, which may indicate reduced UGT1A1 function.

Embryo-Fetal Toxicity: Based on its mechanism of action, Trodelvy can cause teratogenicity and/or embryo-fetal lethality when administered to a pregnant woman. Trodelvy contains a genotoxic component, SN-38, and targets rapidly dividing cells. Advise pregnant women and females of reproductive potential of the potential risk to a fetus. Advise females of reproductive potential to use effective contraception during treatment with Trodelvy and for 6 months after the last dose. Advise male patients with female partners of reproductive potential to use effective contraception during treatment with Trodelvy and for 3 months after the last dose.

ADVERSE REACTIONS

In the ASCENT study (IMMU-132-05), the most common adverse reactions (incidence ≥25%) were fatigue, neutropenia, diarrhea, nausea, alopecia, anemia, constipation, vomiting, abdominal pain, and decreased appetite. The most frequent serious adverse reactions (SAR) (>1%) were neutropenia (7%), diarrhea (4%), and pneumonia (3%). SAR were reported in 27% of patients, and 5% discontinued therapy due to adverse reactions. The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the ASCENT study were reduced neutrophils, leukocytes, and lymphocytes.

In the TROPHY study (IMMU-132-06), the most common adverse reactions (incidence ≥25%) were diarrhea, fatigue, neutropenia, nausea, any infection, alopecia, anemia, decreased appetite, constipation, vomiting, abdominal pain, and rash. The most frequent serious adverse reactions (SAR) (≥5%) were infection (18%), neutropenia (12%, including febrile neutropenia in 10%), acute kidney injury (6%), urinary tract infection (6%), and sepsis or bacteremia (5%). SAR were reported in 44% of patients, and 10% discontinued due to adverse reactions. The most common Grade 3-4 lab abnormalities (incidence ≥25%) in the TROPHY study were reduced neutrophils, leukocytes, and lymphocytes.

DRUG INTERACTIONS

UGT1A1 Inhibitors: Concomitant administration of Trodelvy with inhibitors of UGT1A1 may increase the incidence of adverse reactions due to potential increase in systemic exposure to SN-38. Avoid administering UGT1A1 inhibitors with Trodelvy.

UGT1A1 Inducers: Exposure to SN-38 may be substantially reduced in patients concomitantly receiving UGT1A1 enzyme inducers. Avoid administering UGT1A1 inducers with Trodelvy.

Oxford Finance Provides $50 Million Credit Facility to Kezar Life Sciences, Inc.

On November 10, 2021 Oxford Finance LLC ("Oxford"), a leading specialty finance firm that provides senior debt to life sciences and healthcare services companies worldwide, reported the closing of a $50 million senior secured term loan with Kezar Life Sciences, Inc. (NASDAQ: KZR) ("Kezar" or "the Company"), a clinical-stage biotechnology company discovering and developing breakthrough treatments for immune-mediated and oncologic disorders (Press release, Kezar Life Sciences, NOV 10, 2021, View Source [SID1234595142]).

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Proceeds from the transaction will be used for general growth capital and for further advancement of the Company’s clinical candidates, KZR-616 and KZR-261.

Founded in 2015, Kezar uses cutting-edge science to develop breakthrough treatments for immune-mediated and oncologic disorders – with the hope of helping people overcome their disease and live a better life. The Company is pioneering first-in-class, small molecule therapies that harness master regulators of cellular function to inhibit multiple drivers of disease via single, powerful targets.

"Kezar is led by a highly skilled management team with extensive, scientific expertise in immunology and oncology. The Company is positioned to tackle the toughest diseases through innovative small molecule therapies that unlock the potential for profound therapeutic benefits," said Christopher A. Herr, senior managing director at Oxford. "Oxford is proud to support a company dedicated to providing a new, hopeful approach to those affected by autoimmune disease and cancer."

"This non-dilutive strategic financing, together with our current cash, strengthens our balance sheet as we advance our clinical programs and overall platform for patients affected by a range of immune-mediated and oncologic diseases," said Marc Belsky, chief financial officer of Kezar Life Sciences. "Importantly, this facility provides us with greater financial and operational flexibility as we approach top-line data readouts for KZR-616 in the second quarter of 2022."

Exscientia to Report Third Quarter 2021 Financial Results on November 17, 2021

On November 10, 2021 Exscientia (Nasdaq: EXAI), an AI-driven pharmatech company committed to discovering, designing and developing the best possible drugs in the fastest and most effective manner, reported that it will report financial results for the third quarter ended September 30, 2021, on Wednesday, November 17, 2021 after U.S. market close (Press release, Exscientia, NOV 10, 2021, View Source [SID1234595141]). Following the announcement, the Company will host a conference call and webcast at 1:30 p.m. GMT / 8:30 a.m. ET on Thursday, November 18, 2021, to provide additional detail on the different business models underlying the company’s pipeline of more than 25 programmes.

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A webcast of the live call can be accessed by visiting the "Investors and Media" section of the Company’s website at investors.exscientia.ai. Alternatively, the live conference call can be accessed by dialing +1 (760) 294 1674 (U.S.), +44 203 059 5869 (U.K.), +44 203 059 8128 (International) and mentioning Exscientia. A replay will be available for 90 days under "Events and Presentations" in the "Investors and Media" section of the Exscientia website.