TG Therapeutics Announces Extension of U.S. FDA BLA/sNDA PDUFA Date for Ublituximab Plus UKONIQ® (U2) to Treat Patients with CLL and SLL

On March 3, 2022 TG Therapeutics, Inc. (NASDAQ: TGTX), reported the U.S. Food and Drug Administration (FDA) has extended the Prescription Drug User Fee Act (PDUFA) goal date to June 25, 2022 for the Biologics License Application (BLA) and supplemental New Drug Application (sNDA) for ublituximab in combination with UKONIQ (umbralisib) as a treatment for patients with chronic lymphocytic leukemia (CLL) and small lymphocytic lymphoma (SLL) (Press release, TG Therapeutics, MAR 3, 2022, View Source [SID1234609444]).

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The FDA notified the Company that the updated overall survival analyses which were submitted to the FDA in February 2022, constituted a major amendment to the applications, and therefore the FDA is extending the PDUFA date to provide time for a full review of the submissions.

Michael S. Weiss, Chairman and Chief Executive Officer of TG Therapeutics stated, "As mentioned on our earnings call earlier this week, we believed an extension of the PDUFA date was a likely scenario especially given the proposed timing of the upcoming ODAC meeting. We hope this extension provides the time needed to give proper attention and review to the U2 BLA/sNDA." Mr. Weiss continued, "We continue to believe in the potential of U2 to provide a meaningful treatment option to patients with CLL and SLL."

ABOUT THE ODAC MEETING
In general, the Oncologic Drugs Advisory Committee (ODAC) reviews and evaluates data concerning the safety and effectiveness of marketed and investigational human drug products for use in the treatment of cancer and makes appropriate recommendations to the Commissioner of Food and Drugs. Although the FDA will consider the recommendation of the ODAC Committee, the final decision regarding the approval of a product is made solely by the FDA.

The FDA has notified the Company that potential questions and discussion topics for the ODAC include: the benefit-risk of the U2 combination in the treatment of CLL or SLL, and the benefit-risk of UKONIQ in relapsed/refractory marginal zone lymphoma (MZL) or follicular lymphoma (FL). In addition, as part of the benefit-risk analysis, the overall safety profile of the U2 regimen, including adverse events (serious and Grade 3-4), discontinuations due to adverse events, and dose modifications, is expected to be reviewed. The FDA’s concern giving rise to the ODAC meeting appears to stem from an early analysis of overall survival from the UNITY-CLL trial.

Overall survival was designated as a secondary efficacy outcome in the UNITY-CLL protocol but was not part of the primary analysis in accordance with the study’s statistical analysis plan agreed upon via a Special Protocol Assessment (SPA), and therefore, was not analyzed or included in the BLA/sNDA. Additionally, the study was not powered for overall survival. As part of the ongoing review of the BLA/sNDA, the FDA requested an early analysis of overall survival from the UNITY-CLL trial. As of September 2021, the cut-off date for the overall survival analysis requested by the FDA during their review, there was an imbalance in favor of the control arm (HR: 1.23) though this result was not statistically significant. However, when excluding deaths related to COVID-19, the two arms were approximately balanced (HR: 1.04) with again no statistically significant difference between the treatment groups with regard to overall survival. In February 2022, the Company submitted updated overall survival data with the same September 2021 cut-off date. The Company will continue to evaluate this endpoint over time as more events are available and will continue to analyze how COVID-19 may be impacting the analysis.

The date of the ODAC meeting has not yet been determined, although the FDA has stated that it is targeting holding the ODAC in March or April 2022.

ABOUT UNITY-CLL PHASE 3 TRIAL AND THE BLA/sNDA SUBMISSION
UNITY-CLL is a global, Phase 3, randomized, controlled clinical trial comparing the combination of ublituximab plus UKONIQ (umbralisib), or U2, to an active control arm of obinutuzumab plus chlorambucil in patients with both treatment-naïve and relapsed or refractory chronic lymphocytic leukemia (CLL). The trial randomized patients into four treatment arms: ublituximab single agent, UKONIQ single agent, ublituximab plus UKONIQ, and an active control arm of obinutuzumab plus chlorambucil. A prespecified interim analysis was conducted to assess the contribution of ublituximab and UKONIQ in the U2 combination arm and allowed for the termination of the single agent arms. Accordingly, the UNITY-CLL Phase 3 trial continued enrollment in a 1:1 ratio into the two combination arms: the investigational arm of U2 and the control arm of obinutuzumab plus chlorambucil. Approximately 420 subjects enrolled to the two combination arms and approximately 60% of patients were treatment-naïve and 40% were relapsed or refractory. The primary endpoint for this study was superior progression-free survival (PFS) for the U2 combination compared to the control arm. The trial met its primary endpoint, with U2 significantly prolonging independent review committee (IRC) assessed PFS vs. control (median 31.9 months vs 17.9 months; hazard ratio 0.546 (p<0.0001)) at a median follow-up of 36.7 months, and results were presented at the American Society of Hematology (ASH) (Free ASH Whitepaper) Annual Meeting in December 2020. The UNITY-CLL Phase 3 trial is being conducted under a Special Protocol Assessment (SPA) agreement with the U.S. Food and Drug Administration (FDA).

The BLA/sNDA submissions of U2 to treat CLL were based on the results of the UNITY-CLL trial. The FDA previously granted Fast Track designation to the U2 combination for the treatment of adult patients with CLL and orphan drug designation for ublituximab in combination with UKONIQ for the treatment of CLL.

ABOUT CHRONIC LYMPHOCYTIC LEUKEMIA
Chronic lymphocytic leukemia (CLL) is the most common type of adult leukemia. It is estimated there will be more than 20,000 new cases of CLL diagnosed in the United States in 2020 and approximately 45,000 new cases globally in 2020.1,2 Although signs and symptoms of CLL may disappear for a period of time after initial treatment, the disease is considered incurable and many people will require additional treatment due to the return of malignant cells.

VBL Therapeutics to Participate at March Investor Conferences

On March 3, 2022 VBL Therapeutics (Nasdaq: VBLT), a late-clinical stage biotechnology company developing first-in-class therapeutics for difficult-to-treat malignant solid tumors and immune or inflammatory indications, reported that management will participate in a fireside chat at the 34th Annual Roth Conference being held on March 13 – 15, 2022 as well as at the 32nd Annual Oppenheimer Healthcare Conference taking place on March 15 – 17, 2022 (Press release, VBL Therapeutics, MAR 3, 2022, View Source [SID1234609443]).

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34th Annual Roth Conference
Format: Fireside Chat
Date: Monday, March 14, 2022
Time: 9:30-9:55 AM (PT)
Fireside Chat Webcast Link
Pre-Conference Webinar Link

32nd Annual Oppenheimer Healthcare Conference
Format: Fireside Chat
Date: Wednesday, March 16, 2022
Time: 8:40-9:10 AM (ET)
Fireside Chat Webcast Link

A link to the webcasts of both fireside chats and the Roth pre-conference webinar will also be available on the Events and Presentations page of the Investor Relations section on the Company’s website at www.vblrx.com.

Selecta Biosciences to Host Conference Call and Webcast to Discuss Fourth Quarter and Full-Year 2021 Financial Results and Provide Business Update

On March 3, 2022 Selecta Biosciences, Inc. (NASDAQ: SELB), a biotechnology company leveraging its clinically validated, precision immune tolerance platform, ImmTOR, to develop tolerogenic therapies that selectively mitigate unwanted immune responses, reported that it plans to host a conference call on Thursday, March 10, 2021, at 8:30 a.m. ET to discuss its financial results for the quarter and full-year ended December 31, 2021 and provide a business update (Press release, Selecta Biosciences, MAR 3, 2022, https://selectabio.gcs-web.com/news-releases/news-release-details/selecta-biosciences-host-conference-call-and-webcast-discuss-7 [SID1234609438]).

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Individuals may participate in the live call via telephone by dialing (844) 845-4170 (domestic) or (412) 717-9621 (international) and may access a teleconference replay for one week by dialing (877) 344-7529 (domestic) or (412) 317-0088 (international) and using confirmation code 10157869. Investors and the public can access the live and archived webcast of this call and a copy of the presentation via the Investors & Media section of the company’s website, www.selectabio.com.

BioCryst to Present at Upcoming Investor Conferences

On March 3, 2022 BioCryst Pharmaceuticals, Inc. (Nasdaq: BCRX) reported that the company will present at the Cowen 42nd Annual Health Care Conference on Wednesday, March 9, 2022, at 9:50 a.m. ET (Press release, BioCryst Pharmaceuticals, MAR 3, 2022, View Source [SID1234609427]). The event will be held virtually.

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The company also will present at the Barclays Global Healthcare Conference in Miami Beach, Florida on Wednesday, March 16, 2022, at 2:35 p.m. ET.

Links to a live audio webcast and replay of these presentations may be accessed in the Investors & Media section of BioCryst’s website at http://www.biocryst.com.

Concert Pharmaceuticals Reports 2021 Financial Results and Provides Company Update

On March 3, 2022 Concert Pharmaceuticals, Inc. (NASDAQ: CNCE) reported financial results for the year ended December 31, 2021 (Press release, Concert Pharmaceuticals, MAR 3, 2022, View Source [SID1234609426]).

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"Our team is extremely proud and motivated by our success in enrolling more than 1,200 patients in our THRIVE-AA Phase 3 program in line with our projected timelines. This represents a significant milestone for Concert as we focus on commercializing CTP-543 to help meet the needs of the alopecia areata patient community," said Roger Tung, Ph.D., President and Chief Executive Officer of Concert Pharmaceuticals. "We expect 2022 to be a data rich year, with the first key CTP-543 Phase 3 data readout next quarter."

Recent Business Highlights and Upcoming Milestones

CTP-543: An Investigational Treatment in Phase 3 Trials for Moderate to Severe Alopecia Areata

Topline Data in THRIVE-AA1 Expected in the Second Quarter of 2022. The Company expects to report topline results from the first CTP-543 Phase 3 trial, THRIVE-AA1, in the second quarter of 2022. THRIVE-AA1 is a randomized, double-blind, placebo-controlled Phase 3 clinical trial of CTP-543 to evaluate hair regrowth using the Severity of Alopecia Tool (SALT) after 24 weeks of dosing. The trial is evaluating 8 mg and 12 mg twice-daily doses of CTP-543 compared to placebo. The trial enrolled 708 adult patients with moderate to severe alopecia areata at sites in the U.S., Canada and Europe.

Enrollment Completed in the THRIVE-AA2 Phase 3 Trial. Similar to THRIVE-AA1, THRIVE-AA2 is a randomized, double-blind, placebo-controlled Phase 3 clinical trial of CTP-543 to evaluate hair regrowth using SALT after 24 weeks of dosing. The trial is evaluating 8 mg and 12 mg twice-daily doses of CTP-543 compared to placebo. The trial enrolled 517 adult patients with moderate to severe alopecia areata at sites in the U.S., Canada and Europe. The Company expects to report topline results from the THRIVE-AA2 trial in the third quarter of 2022.

New Drug Application (NDA) Filing Expected for Alopecia Areata in the First Half of 2023. If the CTP-543 clinical program is successful, the Company intends to file an NDA with the U.S. Food and Drug Administration (FDA) in the first half of 2023. The FDA has granted CTP-543 Breakthrough Therapy designation for the treatment of adult patients with moderate to severe alopecia areata and Fast Track designation for the treatment of alopecia areata. Alopecia areata is an autoimmune disease that may affect up to approximately 1.5 million Americans at any given time1.
Partnered Program: AVP-786 for Neurological Disorders

AVP-786 Late-Stage Trials to Complete in Third Quarter of 2022. Avanir Pharmaceuticals and Otsuka Pharmaceuticals are conducting a number of clinical trials evaluating AVP-786 in certain neurological disorders, including multiple Phase 3 studies in Alzheimer’s agitation. Avanir and Otsuka have full responsibility for the development, reporting of clinical results and commercialization of AVP-786. Concert is entitled to potential future milestones and royalties. Two trials are expected to complete in the third quarter of 2022:

AVP-786 Phase 3 trial in Alzheimer’s Agitation is projected to complete in July 2022.
AVP-786 Phase 2/3 trial in Negative Symptoms of Schizophrenia is projected to complete in August 2022.
Full Year 2021 Financial Results

Cash and Investment Position. Cash, cash equivalents and investments as of December 31, 2021 totaled $141.6 million, compared to $130.0 million as of December 31, 2020. In November 2021, the Company raised gross proceeds of $65.0 million under a financing arrangement with BVF Partners L.P. and RA Capital Management, L.P. The financing consisted of the sale of common and preferred stock, warrants and a portion of Concert’s right to receive potential future AVP-786 royalties under an existing licensing agreement with Avanir. Under its current operating plan, the Company expects its current cash and cash equivalents to fund the Company into the fourth quarter of 2022. In addition, Concert has the potential to receive an additional $103.1 million upon the full exercise of the warrants issued in connection with the November 2021 financing.

Revenue. Revenue was $32.6 million for the year ended December 31, 2021, compared to $7.9 million for the year ended December 31, 2020. Revenue recognized in 2021 was primarily attributable to the $32.0 million in cash proceeds received from Vertex Pharmaceuticals, Inc. for the purchase of potential future milestones under the companies’ 2017 asset purchase agreement related to VX-561. Revenue recognized in 2020 was the result of the expiration of licensing options under a previous collaboration with Celgene Corporation.

R&D Expenses. Research and development expenses were $87.6 million for the year ended December 31, 2021, compared to $61.6 million for the year ended December 31, 2020. The increase in research and development expenses relates primarily to the clinical development for CTP-543.

G&A Expenses. General and administrative expenses were $22.5 million for the year ended December 31, 2021, compared to $18.9 million for the year ended December 31, 2020. The increase in general and administrative expenses relates primarily to increased external professional service expenses and non-cash stock-based compensation.

Net Loss. For the year ended December 31, 2021, net loss attributable to common stockholders was $80.1 million, or $2.33 per share, compared to net loss applicable to common stockholders of $74.8 million, or $2.40 per share, for the year ended December 31, 2020.
Conference Call and Webcast

The Company will host a conference call and webcast today at 8:30 a.m. ET to provide an update on the Company and discuss financial results for the year ended December 31, 2021. To access the conference call, please dial (855) 354-1855 (U.S. and Canada) or (484) 365-2865 (International) five minutes prior to the start time.

A live webcast of the financial results may be accessed in the Investors section of the Company’s website at www.concertpharma.com. Please log on to the Concert website approximately 15 minutes prior to the scheduled webcast to ensure adequate time for any software downloads that may be required. A replay of the webcast will be available on Concert’s website for three months.